Astronics Corporation reported a strong start to 2025 with consolidated sales increasing 11.3% year-over-year to $205.9 million for the first quarter ended March 29, 2025. This growth was primarily driven by record Aerospace segment sales of $191.4 million, which rose 17.0% over the prior-year period. The Test Systems segment, however, saw sales decline by $6.9 million to $14.6 million.
Adjusted EBITDA for the quarter increased 74.4% to $30.7 million, representing 14.9% of sales, while adjusted net income reached $17.0 million, or $0.44 per diluted share. The company reported a GAAP net income of $9.5 million, or $0.26 per diluted share. These results reflect improved operating efficiencies and leverage from higher volume.
Astronics achieved record bookings of $279.7 million in the quarter, resulting in a book-to-bill ratio of 1.36:1, and a record backlog of $673.0 million. Regarding the UK patent dispute, the damages award was adjusted upwards by $0.5 million to $12.4 million, which was paid in Q2 2025, and an additional $5.7 million in interest was assigned, also likely to be paid in Q2 2025. The company maintained its 2025 revenue guidance of $820 million to $860 million.
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