AstroNova, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 29, 2022
December 07, 2022 at 07:36 am EST
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AstroNova, Inc. reported earnings results for the third quarter and nine months ended October 29, 2022. For the third quarter, the company reported sales was USD 39.41 million compared to USD 28.86 million a year ago. Net income was USD 0.289 million compared to net loss of USD 0.425 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.04 compared to diluted loss per share from continuing operations of USD 0.06 a year ago.
For the nine months, sales was USD 102.67 million compared to USD 87.78 million a year ago. Net income was USD 1.3 million compared to USD 7.19 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 1 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.98 a year ago.
AstroNova, Inc. designs, manufactures, distributes, and services a range of products that acquire, store, analyze, and present data in multiple formats. The Company operates through two segments: Product Identification (PI) and Test & Measurement (T&M). The PI segment provides an array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for original equipment manufacturers (OEMs), commercial printers, and brand owners. The T&M segment provides products designed for airborne printing solutions, avionics, and data acquisition. Its aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Its data acquisition systems are used in research and development, flight testing, missile and rocket telemetry production monitoring, power, and maintenance applications. The Company also offers advanced digital solutions for textiles, packaging, and labeling.