November 7, 2017 / 11:48 AM / 10 days ago

BRIEF-Astronics Corporation reports Q3 earnings per share $0.21

Nov 7 (Reuters) - Astronics Corp

* Astronics Corporation reports 2017 third quarter financial results and issues preliminary guidance for 2018

* Q3 earnings per share $0.21

* Q3 earnings per share view $0.31 -- Thomson Reuters I/B/E/S

* Sees FY 2018 revenue $675 million to $750 million

* Astronics Corp qtrly ‍consolidated gross margin was 21.7% in Q3 of 2017 compared with 24.9% in Q3 of 2016​

* Astronics Corp - ‍aerospace backlog was $233.2 million at end of q3 2017​

* Astronics Corp qtrly ‍consolidated sales were $149.6 million, down $5.5 million from same period last year

* Astronics Corp - ‍consolidated backlog at September 30, 2017 was $302.3 million, of which about $148.5 million is expected to ship in 2017​

* Astronics Corp - ‍consolidated annual sales in 2017 expected to be in range of $622 million to $636 million​

* Astronics Corp - ‍capital equipment spending in 2017 expected to be in range of $17 million to $19 million​

* Astronics Corp - ‍Q3 results were a continuation of challenges we have had throughout 2017​

* Astronics Corp - qtrly ‍consolidated revenue was nonetheless weaker than expected as programs continued to shift to right​

* Astronics Corp - qtrly ‍operating margin and net income were “negatively” impacted​

* Astronics Corp - ‍initial guidance for next year anticipates organic growth of well over 10%​

* Astronics Corp - expect ‍acquisition of Telefonix PDT to close in next several weeks​

* Astronics Corp - ‍anticipate co will revise 2018 revenue range upward before year begins​

* Q3 earnings per share view $0.31, revenue view $155.1 million -- Thomson Reuters I/B/E/S

* Fy2017 revenue view $624.4 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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