Summary
Astronics Corp. lost $9.7 million in the fourth quarter because of a big write-down in the value of its test systems business, but the East Aurora aircraft lighting and electronics manufacturer's sales inched up by 3 percent.
Astronics executives also warned that its business is not expected to pick up this year, with revenues being either flat, or down as much as 10 percent. The company said its sales during the current year are likely to range between $170 million and $190 million, which would be less than the $191 million in revenues it posted last year.See the full content of this document
Extract
Astronics Earnings Fall On Write-Down
In response to its slumping markets, Astronics said Tuesday it has eliminated about 100 positions across the company -- includi...
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