PROVIDENCE – AstroNova Inc. on Thursday reported a profit of $848,000 in the company’s fiscal first quarter, or 11 cents per diluted share, up from $425,000 one year prior, or 6 cents per diluted share.
Revenue for the high-technology electronics manufacturer totaled $35.4 million in the quarter that ended April 29, an increase from $31 million one year prior. But the “cost of revenue” also increased to $23 million from $20.2 million a year ago, AstroNova reported.
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The company’s Product Identification segment posted revenue of $25.1 million, an increase from $21.7 million one year prior. Test & Measurement segment revenue totaled $10.3 million, an increase from $9.2 million one year prior.
“Our strong first-quarter results reflected our solid performance integrating the Astro Machine acquisition, maintaining cost discipline and capitalizing on the expanding recovery of the commercial aviation market,” stated Greg Woods, AstroNova’s CEO and president. “The hard work of our teams around the globe helped to deliver an 18% increase in orders, a 14% increase in revenue and a 91% increase in operating profit.”
