Astronics sees Q3 net loss $15M vs. net loss of $7.2M in Q321

Preliminary bookings in the quarter were $184M, up 20% compared with the prior-year period and up 24% over the trailing second quarter. Preliminary orders included a record $166 million in orders for the Company’s Aerospace segment and $18M in orders related to the Test segment. Backlog at the end of the quarter was an estimated $547 million including a record $464Mn in backlog for the Aerospace segment. The Company’s preliminary consolidated net loss for the quarter ended October 1 is estimated to be approximately $15M, compared with a net loss of $7.2M in the prior-year period. This is reflective of $4 million of legal and customer accommodation expense and increased labor and material costs for the quarter ended October 1 , while the prior-year period benefited by $1.1 million from the Aviation Manufacturing Jobs Protection Program Grant.