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ASTRONICS CORPORATION REPORTS RECORD THIRD QUARTER SALES AND EARNINGS OCTOBER 2, 1993

 ORCHARD PARK, N.Y., Oct. 25 /PRNewswire/ -- Astronics Corporation (NASDAQ: ATRO) today reported results for its third quarter and for the nine months ending Oct. 2, 1993.
 FINANCIAL RESULTS
 The company completed its third quarter with new records in sales and earnings, exceeding records established in 1992. The company earned $287,000, or $.07 per share, on sales of $5,844,000, compared to 1992 third quarter net income of $250,000, or $.06 per share, on sales of $5,683,000.
 For the nine months ending Oct. 2, 1993, the corporation reported a sales increase of 5.4 percent. The 1993 sales are $17,734,000 compared to sales of $16,824,000 in 1992. Net earnings for the 1993 period are $536,000, or $.13 per share, compared to a loss of $298,000, or $.08 per share in 1992.
 For the twelve trailing months, the company has earned $1,150,000, or $.29 per share, on sales of $24,650,000, compared to net income of $268,000, or $.07 per share, on sales of $23,863,000 for the previous twelve trailing months.
 KEANE'S COMMENTS
 Commenting on third quarter and nine month results, Kevin T. Keane, president and chief executive officer, said the company was pleased that sales and earnings for the quarter set a new record and with year-to- date earnings despite the $.08 charge for debt restructuring expensed in the second quarter. Consistent with prior years, the company expects the fourth quarter to be the best quarter of the year. The backlog at Oct. 2, 1993, was $7,600,000 compared to $7,100,000 at the end of the second quarter and $7,900,000 at Dec. 31, 1992.
 The company is nearing completion of its major capital projects valued at approximately $4,000,000 for 1993. As these investments in equipment and technology become operational, they will have a positive impact on the future of the business.
 THE COMPANY
 Astronics Corporation is a diversified manufacturing company operating in two business segments: Customized Printing and Packaging and Electronics Systems. The company is headquartered in Orchard Park, N.Y. and has operations in Western New York and Eastern Massachusetts. Its common stock is traded on the NASDAQ National Market System under the symbol ATRO.
 CONSOLIDATED STATEMENT OF INCOME
 FOR THE THREE MONTHS ENDING OCT. 2, 1993
 WITH COMPARATIVE FIGURES FOR 1992
 (In thousands except per share data)
 (Unaudited)
 Oct. 2, 1993 Sept. 26, 1992
 Net sales $ 5,844 $ 5,683
 Income before taxes $ 554 $ 388
 Net income (loss) $ 287 $ 250
 Earnings per share $ 0.07 $ 0.06
 Weighted average shares outstanding 3,990 3,937
 CONSOLIDATED STATEMENT OF INCOME
 FOR THE NINE MONTHS ENDED OCT. 2, 1993
 WITH COMPARATIVE FIGURES FOR 1992
 (In thousands except per share data)
 (Unaudited)
 Oct. 2, 1993 Sept. 26, 1992
 Net sales $ 17,734 $ 16,824
 Income (loss) before taxes $ 1,033 $ (182)
 Net income (loss) $ 536 $ (298)(A)
 Earnings (loss) per share $ 0.13 $ (0.08)(A)
 Weighted average shares outstanding 3,990 3,937
 CONSOLIDATED STATEMENT OF INCOME
 FOR THE TWELVE MONTHS ENDED Oct. 2, 1993
 WITH COMPARATIVE FIGURES FOR 1992
 (In thousands except per share data)
 (Unaudited)
 Oct. 2, 1993 Sept. 26, 1992
 Net sales $ 24,650 $ 23,863
 Income before taxes $ 1,902 $ 626
 Net income $ 1,150 $ 268 (A)
 Earnings per share $ 0.29 $ 0.07 (A)
 Weighted average shares outstanding 3,990 3,937
 CONSOLIDATED BALANCE SHEET
 AS OF OCT. 2, 1993
 WITH COMPARATIVE FIGURES FOR
 DEC. 31, 1992, AND SEPT. 26, 1992
 (in thousands)
 10/2/93 12/31/92 9/26/92
 ASSETS:
 Current assets $11,521 $12,323 $11,864
 Property, plant and equipment (net) 12,013 10,254 10,450
 Other assets 1,852 2,098 1,981
 Total $25,386 $24,675 $24,295
 LIABILITIES AND SHAREHOLDERS' EQUITY:
 Current liabilities $ 5,565 $ 2,970 $ 3,105
 Long-term indebtedness/capital leases 9,807 3,513 3,610
 Subordinated debt 0 8,755 8,852
 Deferred taxes 1,303 1,263 1,240 (A)
 Shareholders' equity 8,711 8,174 7,488 (A)
 Total $25,386 $24,675 $24,295
 (A)-- Includes cumulative effect of a change in accounting principle of $140 ($.04 per share).
 -0- 10/25/93
 /CONTACT: John M. Yessa, vice president - finance, of Astronics Corporation, 716-662-6640/
 (ATRO)


CO: Astronics Corporation ST: New York IN: CPR SU: ERN

BM -- CL011 -- 6208 10/25/93 10:23 EDT
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Date:Oct 25, 1993
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