Astronics Beats on Both Top and Bottom Lines
Astronics (NAS: ATRO) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Astronics beat expectations on both revenue and earnings per share.
Compared to the prior-year quarter, revenue increased significantly, and GAAP earnings per share grew as well.
Gross margin increased, operating margin dropped, and net margin was steady.
Astronics recorded revenue of $65.1 million. The four analysts polled by S&P Capital IQ wanted to see sales of $59.2 million on the same basis. GAAP-reported sales were 18% higher than the prior-year quarter's $55.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.46. The four earnings estimates compiled by S&P Capital IQ anticipated $0.44 per share. GAAP EPS of $0.46 for Q1 were 12% higher than the prior-year quarter's $0.41 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.8%, 150 basis points better than the prior-year quarter. Operating margin was 14.2%, 60 basis points worse than the prior-year quarter. Net margin was 9.4%, about the same as the prior-year quarter.
Next quarter's average estimate for revenue is $60 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $246.7 million. The average EPS estimate is $1.90.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 299 members rating the stock outperform and 13 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 67 give Astronics a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Astronics is outperform, with an average price target of $37.67.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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