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): December 22, 2014
ASTRONICS CORPORATION
(Exact name of registrant as specified in its charter)
New York | 0-7087 | 16-0959303 | ||||||
(State or Other Jurisdiction | (Commission | (I.R.S. Employer | ||||||
of Incorporation) | File Number) | Identification No.) |
130 Commerce Way | ||
East Aurora, New York | 14052 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (716) 805-1599
N/A
(Former name or former address, if changed since last report)
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 (see General Instruction A.2 below)
¨ | 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)) |
Item 2.02 Results of Operations and Financial Condition
On December 22, 2014, Astronics Corporation (the Company) issued a news release announcing that Astronics preliminarily expects 2015 consolidated revenue to be in the range of $655 million to $695 million. The Test Systems segment is projected to generate approximately 20% of total revenue, while the remainder will be provided by the Aerospace Segment. The Company will expand on this preliminary guidance for 2015 with its 2014 financial results release.
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.
Press Release of Astronics Corporation dated December 22, 2014
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: December 23, 2014 | By: | /s/ David C. Burney | ||||
Name: | David C. Burney | |||||
Chief Financial Officer |
EXHIBIT INDEX
Exhibit |
Description | |
99.1 | Press Release of Astronics Corporation December 22, 2014 |
Exhibit 99.1
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NEWS RELEASE |
Astronics Corporation . 130 Commerce Way . East Aurora, NY . 14052-2164
For more information contact: | ||||
Company: | Investor Relations: | |||
David C. Burney, Chief Financial Officer | Deborah K. Pawlowski, Kei Advisors LLC | |||
Phone: (716) 805-1599, ext. 159 | Phone: (716) 843-3908 | |||
Email: david.burney@astronics.com | Email: dpawlowski@keiadvisors.com |
FOR IMMEDIATE RELEASE
Astronics Announces Test Systems Order;
Establishes 2015 Revenue Expectations
EAST AURORA, N.Y., December 22, 2014 Astronics Corporation (NASDAQ: ATRO) (Astronics), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that its wholly-owned subsidiary, Astronics Test Systems (ATS), has been awarded a follow-on order from its largest customer valued at approximately $88 million.
The order is for several, highly-engineered production test systems, and includes on-site engineering and uptime support for the installed units.
Peter J. Gundermann, President and CEO of Astronics, noted, Astronics has built its brand by providing our customers technological solutions that enable them to achieve their business goals. This follow-on order is a testament to the value provided by our ATS team for this customer.
With this order, Astronics preliminarily expects 2015 consolidated revenue to be in the range of $655 million to $695 million. The Test Systems segment is projected to generate approximately 20% of total revenue, while the remainder will be provided by the Aerospace Segment. The Company will expand on this preliminary guidance for 2015 with its 2014 financial results release.
ABOUT ASTRONICS CORPORATION
Astronics Corporation (NASDAQ: ATRO) is a leader in advanced, high-performance lighting, electrical power, specialized avionics products and automated test systems for the global aerospace and defense industries. Astronics strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics Corporation, through its wholly-owned subsidiaries, has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its Web site at www.astronics.com.
For more information on Astronics and its products, visit its Web site at www.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. 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 these statements. Important factors that could cause actual results to differ materially include the state of the aerospace and defense industries, the market and customer acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes, the demand for and market acceptance of new or existing aircraft which contain the Companys products, customer preferences, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. 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.
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