Astro-Med’s 2Q income rises 19 percent

West Warwick-based Astro-Med Inc. (Nasdaq: A LOT) has reported second-quarter net income of $740,000, or 10 cents per diluted share, on sales of $16.3 million.

Net income for the quarter ended July 29 was $1.28 million, or 17 cents per diluted share, on sales of $31.9 million, the company said in its Aug. 15 news release. That included after-tax expenses of about $86,000, or 1 cent per diluted share.

For the year-ago period, the company posted net income of $622,000, or 9 cents per share, on sales of $14.6 million.

For the six months ended July 29, net income was $1.28 million, or 17 cents per share, on sales of $31.9 million. That included after-tax expenses of about $173,000, or 2 cents per share. For the first half of 2005, the company had posted $1.02 million in net income, or 14 cents per share, on $28.8 million in sales.

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“We are pleased with our performance in the Second Quarter,” CEO Albert W. Ondis wrote in the company’s Aug. 15 news release. “All indicators point upward. Sales increased 11% over the corresponding quarter of the prior year, and net income increased by 19%. At $17,426,000, new orders increased 14%, and operating income of $1,017,000 improved 12% ….

“Astro-Med continues to maintain its traditional strong financial condition while investing further in the development of new products and in strengthening its sales and marketing facilities. … Astro-Med is well positioned for significant continuing growth.”

Ondis said several new products are slated for introduction later this year, and those Astr-Med introduced in the past year “are receiving good market acceptance.

On Aug. 14, the board of directors declared a regular quarterly cash dividend of 5 cents per share, payable Oct. 2 to shareholders of record Sept. 8, the company said.

The second-quarter conference call, held Aug. 15 at 5 p.m., was broadcast in real time on the Internet, at www.astro-medinc.com. It will be available at any time for up to five days after the event.

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