Astronova posts $727K profit in 2Q

ASTRONOVA REPORTED A $727,000 profit for the company's second quarter ending on July 29. / COURTESY ASTRONOVA
ASTRONOVA REPORTED A $727,000 profit for the company's second quarter ending on July 29. / COURTESY ASTRONOVA

WEST WARWICK – AstroNova Inc. reported a $727,000 net income for the quarter it designates the second quarter of fiscal 2018, which ended on July 29. The company reported net income per diluted share was 11 cents.

The company’s net income declined $565,000 year over year despite a rise in revenue.

Revenue for the three months ended was a company record of $27.5 million, an increase of $2.1 million year over year.

“The revenue growth in the second quarter was dominated by our Product Identification segment,” AstroNova President and CEO Greg Woods said in a news release. “The segment recorded a record $20.8 million in revenue for the quarter, as both our printer hardware and supplies product lines achieved double-digit growth. The Product Identification revenue growth was derived from both organic growth in our QuickLabel product lines as well as contributions from our acquisition of TrojanLabel earlier this year.”

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