AstroNova reports $814K profit for FY 2019 Q1

WEST WARWICK – AstroNova Inc. reported Tuesday a fiscal 2019 first-quarter profit of $814,000, a 59 percent increase year over year.

The company had revenue of $31.5 million, compared with revenue of $24.5 million one year prior. The company’s first quarter ended April 28.

Earnings per diluted share totaled 12 cents for the quarter, compared with 7 cents the year before.

Dividends per common share were 7 cents, the same as the first quarter of fiscal 2018.

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The company said its test and measurement segment increased revenue 98 percent year over year to $11.5 million due to its integration of its previous Honeywell asset purchase and licensing agreement.

“We continued the company’s strong performance during the first quarter of FY 2019 driven by solid revenue growth contributions from our Test & Measurement and Product Identification segments,” said Astronova President and CEO Gregory A. Woods in a statement. “We continue to be positive on our expectation for fiscal 2019 with comparable sales and earnings in the second quarter and improving performance in the second half of the year, as we wind down the Transition Services Agreement with Honeywell for our new aerospace printer line as well as increased contributions from our new TrojanLabel product lines.”

The company also highlighted that this quarter it received a Supplemental Type Certificate from the Federal Aviation Administration to retrofit the installation of its Toughwriter 5 flight deck data printer on the Boeing 737 Next Generation aircraft.

Chris Bergenheim is the PBN web editor.