PROVIDENCE – AstroNova Inc. on Wednesday reported a $425,000 profit in the company’s fiscal first quarter, or 6 cents per diluted share, a decrease from $593,000 one year prior, or 8 cents per diluted share.
Revenue for the high-technology electronics manufacturer revenue totaled $31 million in the quarter that ended April 30, an increase from $29.1 million one year prior. But the “cost of revenue” also increased to $20.3 million from $18.2 million a year ago, AstroNova reported.
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The company’s Product Identification segment posted revenue of $21.7 million, down 6% from $23.1 million one year prior. Test & Measurement segment revenue totaled $9.3 million, a 55% increase from $6 million one year prior.
“We delivered 6.6% top-line growth in the first quarter, driven by the momentum of our Test & Measurement segment, as commercial aerospace OEMs continued to increase production and deliveries of their narrow-body aircraft,” said Gregory A. Woods, CEO and president. “The pace of production of aircraft families like the Airbus A320 and Boeing 737 is a key barometer for our Aerospace business, since those planes represent a significant portion of our aerospace product volume.
