Astronics Awarded External Lighting System Contract for Cessna Citation Mustang.Business Editors EAST AURORA, N.Y.--(BUSINESS WIRE)--April 15, 2004 Astronics Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ATRO ATRO Actual Time of Return to Operation ), a leader in advanced, high performance lighting and electronics systems for the global aerospace and defense industry, today announced that its subsidiary, Luminescent lu·mi·nes·cent adj. Capable of, suitable for, or exhibiting luminescence. [Latin l men, l Systems, Inc. (LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. ), was chosen by Cessna Aircraft Company to be the supplier of the exterior lighting system for the Citation Mustang. The Mustang, the most recent offering in Cessna's market leading line of Citation jets, is a six-seat twin-jet aircraft that is scheduled to be certified in late 2006. The jet is designed to provide spacious cabin-class seating, true jet speed and a half-continent of range. Peter Gundermann, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Astronics, commented, "LSI has been supplying cockpit lighting products to Cessna for over 25 years. The addition of exterior lighting systems to the list of products we supply to Cessna is an example of the successful execution of our strategy to build on the many strong customer relationships we enjoy to increase our ship set content." The exterior lighting system will be comprised of an entire suite of lights. The lighting fixtures will use next generation technology to provide a significant increase in reliability. Mr. Gundermann went on to say, "Cessna's award demonstrates its confidence that Astronics is qualified and capable of supporting Cessna, the world's leading supplier of business jets, over the long term." Cessna Aircraft Company, a subsidiary of Textron Inc. (NYSE NYSE See: New York Stock Exchange : TXT TXT Text TXT Text File (filename extension) TXT Textile TXT Teletext TXT Tecnologia per a Tothom TXT Textron Corporation (stock symbol) ), is the world's leading producer of general aviation aircraft. Textron, a $10 billion multi-industry company, is known for its powerful brands such as Bell Helicopter Bell Helicopter Textron is an American helicopter and tiltrotor manufacturer headquartered in Fort Worth, Texas. A division of Textron, Bell manufactures military helicopter and tiltrotor products in the United States (primarily in and around Fort Worth as well as in Amarillo, and Cessna Aircraft. ABOUT ASTRONICS CORPORATION Astronics Corporation is a manufacturer of specialized lighting and electronics for the cockpit, cabin and exteriors of military, commercial transport and private business jet aircraft. A major lighting and electronics supplier to the aircraft industry, its strategy is to expand from a components and subsystems supplier to an aircraft lighting systems integrator, increasing the value and content it provides to a growing number of aircraft platforms. Luminescent Systems Inc. is Astronics' primary operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. which produces its aerospace and defense products. For more information on Astronics and its products, visit its website at www.Astronics.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words "expect," "anticipate," "plan," "may," "will," "estimate" or other similar expression. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially than those contemplated by the statements. Important factors that could cause actual results to differ materially include the Company's ability to execute its strategy, the impact of the economy, the likelihood that the Company can serve Cessna over the long term, that the Mustang will be certified, the state of the aerospace industry, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise. |
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