FALSE130 Commerce WayEast AuroraNew York000000806300000080632025-01-102025-01-10

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 10, 2025

ASTRONICS CORPORATION
(Exact name of registrant as specified in its charter)
New York
 0-7087
16-0959303
(State of Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
130 Commerce Way
East Aurora, New York
14052
(Address of principal executive offices)
(Zip Code)

Registrant's telephone number, including area code: (716) 805-1599
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $.01 par value per shareATRONASDAQ Stock Market
Securities registered pursuant to Section 12(g) of the Act: None
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02 Results of Operations and Financial Condition.
On January 10, 2025, Astronics Corporation issued a news release announcing preliminary unaudited revenue and preliminary bookings for the fourth quarter of 2024, preliminary unaudited revenue for full year 2024 and initial revenue guidance for 2025. A copy of the press release is attached as Exhibit 99.1.
The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The information in this report including the exhibit hereto, shall not be deemed to be “filed” for purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
ExhibitDescription
Press Release of Astronics Corporation, dated January 10, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Astronics Corporation
Dated:January 10, 2025By:/s/ Nancy L. Hedges
Name:Nancy L. Hedges
Vice President and Chief Financial Officer




image_0a.jpg
NEWS RELEASE
Exhibit 99.1

For Immediate Release        
Astronics Corporation Announces
Preliminary Unaudited Revenue for Fourth Quarter 2024
and Initiates Revenue Guidance for 2025
•Preliminary unaudited fourth quarter revenue was $208 million to $210 million
•Full year 2024 preliminary unaudited revenue was approximately $796 million, an increase of 15.5% over 2023
•Initial 2025 revenue guidance established at $820 million to $860 million
EAST AURORA, NY, January 10, 2025 – Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced its fourth quarter 2024 preliminary unaudited revenue was approximately $208 million to $210 million which was the upper end of the Company’s guidance range. At the midpoint of this announced range, preliminary revenue was up 7.0% over the prior-year period and up 2.6% over the trailing third quarter. Full year preliminary unaudited revenue for 2024 was approximately $796 million, up 15.5% over the prior year.
Preliminary bookings in the quarter were $199 million, bringing orders for the full year to approximately $811 million.
The Company also provided preliminary revenue expectations for 2025 of $820 million to $860 million representing an increase of approximately 6% over 2024 at the mid-point of the range.
Peter J. Gundermann, Chairman, President and CEO, commented, “We ended the year on a strong note despite sluggish OEM production rates and the Boeing strike. We have achieved average annual revenue growth of over 20% the last three years and have finally returned to pre-Covid revenue levels. We expect 2025 will be another year of solid growth, though more modest, which will allow us to focus on expanding margins through the year and strengthening cash flow.”
The preliminary unaudited revenue result for the fourth quarter and full year 2024 presented herein are based on information available to management as of the date of this release. These preliminary unaudited results are subject to changes, that may be material, in connection with completion of the Company’s standard year-end closing procedures and the completion of our independent registered public accounting firm’s year-end audit.
Other Updates
The damages trial judgment against the Company related to the ongoing patent infringement case in the U.K. has not yet been issued. The Company expects the judgment to be issued early this year, but does not have specific information regarding timing. In addition, depending upon the outcome, the Company expects to appeal if permitted by the U.K. High Court of Justice.
Deliveries to Boeing following the end of the strike have been slowly resuming at a relatively low rate.
Astronics Corporation     press@astronics.com | +1.716.805.1599
130 Commerce Way | East Aurora, NY 14052    
Astronics Corporation Announces Preliminary Unaudited Revenue for Fourth Quarter 2024 and Initiates Revenue Guidance for 2025
January 10, 2025
Page 2 of 2

ABOUT ASTRONICS CORPORATION
Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.
For more information on Astronics and its solutions, visit Astronics.com.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions and include all statements with regard to preliminary unaudited revenue and bookings for the fourth quarter of 2024 and full year 2024, 2025 revenue outlook, timing regarding the judgment on damages from the U.K. Court and the Company’s ability to appeal such an outcome, and the rate of production for Boeing. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially from what may be stated here include the trend in growth with passenger power and connectivity on airplanes, the state of the aerospace and defense industries, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes and delivery schedules, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, the need for new and advanced test and simulation equipment, customer preferences and relationships, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. Except as may be required by applicable law, the Company assumes no obligation to update forward-looking information in this news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
For more information, contact:
CompanyInvestors
Nancy L. Hedges, CFODeborah K. Pawlowski
Astronics CorporationAlliance Advisors LLC
T: 716.805.1599 x 159T: 716.843.3908
dpawlowski@allianceadvisors.com
# # #
Astronics Corporation     press@astronics.com | +1.716.805.1599
130 Commerce Way | East Aurora, NY 14052    
v3.24.4
Cover
Jan. 10, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 10, 2025
Entity Registrant Name ASTRONICS CORPORATION
Entity Incorporation, State or Country Code NY
Entity File Number 0-7087
Entity Tax Identification Number 16-0959303
Entity Address, Address Line One 130 Commerce Way
Entity Address, City or Town East Aurora
Entity Address, State or Province NY
Entity Address, Postal Zip Code 14052
City Area Code 716
Local Phone Number 805-1599
Title of 12(b) Security Common Stock, $.01 par value per share
Trading Symbol ATRO
Security Exchange Name NASDAQ
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000008063
Astronics (NASDAQ:ATRO)
Historical Stock Chart
Von Dez 2024 bis Jan 2025 Click Here for more Astronics Charts.
Astronics (NASDAQ:ATRO)
Historical Stock Chart
Von Jan 2024 bis Jan 2025 Click Here for more Astronics Charts.