AstroNova, Inc. announced its third-quarter fiscal 2025 financial results for the period ended November 2, 2024, reporting consolidated net revenue of $40.422 million, an increase of 7.7% year-over-year. However, the company's net income significantly decreased by 91.3% to $0.240 million, resulting in diluted earnings per share of $0.03, down 91.9% from the prior year.
The company's performance was primarily impacted by the ongoing integration of MTEX NS within its Product Identification segment, which incurred an operating loss of $1.1 million on revenue of $1.7 million in the third quarter. This challenging integration, along with a key customer's delayed launch of a large inkjet printer order, contributed to a 42.9% year-over-year decrease in Adjusted EBITDA to $3.2 million.
In response to these challenges, AstroNova initiated a total realignment of MTEX's organizational reporting structure, integrating all key functions into AstroNova's leadership team. The company also launched a cost reduction and product line rationalization initiative across the organization. Due to the extended integration timeline for MTEX, AstroNova is no longer providing financial guidance for fiscal years 2025 and 2026.
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