Astronics Corporation Reports 2017 Fourth Quarter and Full Year Financial Results

EAST AURORA, N.Y. — (BUSINESS WIRE) — February 26, 2018 — Astronics Corporation (NASDAQ: ATRO), a leading provider of advanced technologies for the global aerospace, defense and semiconductor industries, today reported financial results for the three and twelve months ended December 31, 2017. Results include the acquisitions of Custom Control Concepts (“CCC”) on April 3, 2017 and Telefonix on December 1, 2017 (collectively, the "Acquired Businesses").

Three Months Ended     Year Ended
December 31, 2017   December 31, 2016   % Change December 31, 2017   December 31, 2016   % Change
 
Sales $ 171,318 $ 154,068 11.2 % $ 624,464 $ 633,123 (1.4 )%
Gross profit $ 32,153 $ 36,486 (11.9 )% $ 137,113 $ 159,467 (14.0 )%
Gross margin 18.8 % 23.7 % 22.0 % 25.2 %
Impairment loss $ 16,237 $ 16,237
SG&A $ 24,012 $ 21,082 13.9 % $ 90,516 $ 86,328 4.9 %
SG&A percent of sales 14.0 % 13.7 % 14.5 % 13.6 %
Income (Loss) from Operations $ (8,096 ) $ 15,404 (152.6 )% $ 30,360 $ 73,139 (58.5 )%
Operating margin % (4.7 )% 10.0 % 4.9 % 11.6 %
Net (Loss) Income $ (5,653 ) $ 9,885 (157.2 )% $ 19,679 $ 48,424 (59.4 )%
Net Income % (3.3 )% 6.4 % 3.2 % 7.6 %
 

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