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Astronics Corporation Awarded $7.4 Million in Contracts from Asian Commercial Airlines for EMPOWER® In-Seat Power Supply Systems

Dépèche transmise le 11 août 2009 par Business Wire

Astronics Corporation Awarded $7.4 Million in Contracts from Asian Commercial Airlines for EMPOWER® In-Seat Power Supply Systems

EAST AURORA, N.Y.--(BUSINESS WIRE)--Astronics Corporation (NASDAQ: ATRO), a leader in advanced, high performance lighting, electrical power and automated test systems for the global aerospace and defense industries, announced today that its subsidiary, Advanced Electronic Systems Corp. (AES), has signed contracts with two Asian commercial airlines totaling approximately $7.4 million for its EMPOWER^® In-Seat Power Supply System (ISPS). The contracts include intelligent power control systems, in-seat power converters, cables, and ancillary equipment that allow passengers to connect their personal electronic devices (PED) – including laptop computers – to AC power outlets installed in the aircraft. The systems are to be installed on both retrofit and new wide-body Airbus and Boeing aircraft. Deliveries, which initially began earlier this year, are expected to continue through mid-2011.

Commercial airlines throughout Asia continue to invest in upgrading and expanding their fleets. With this expansion, the airline customers are fulfilling passenger demand for EMPOWER^® systems which enable the passengers to use their laptop and other devices during flight.

“We expect opportunities from this sector to continue over the next few years as competition among the airlines intensifies.” said Mark Peabody, AES Executive Vice President.

Astronics’ patented, state-of-the art, highly efficient and reliable power supply systems are used to power personal electronic devices, laptop computers as well as aircraft in-flight entertainment systems. The systems have been sold to over 125 commercial transport and business jet customers, representing the largest installed base of in-seat power systems in the industry.

ABOUT ASTRONICS CORPORATION

Astronics Corporation is a trusted leader in innovative, high performance lighting, power management systems for the global aerospace industry; automated diagnostic test systems, training and simulation devices for the defense industry; and safety and survival equipment for airlines. Astronics’ strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics Corporation, and its wholly-owned subsidiaries, DME Corporation, Astronics Advanced Electronic Systems Corp. and Luminescent Systems Inc., have a reputation for high quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its website at www.Astronics.com.

For more information on Astronics and its products, visit its website at www.Astronics.com.

Safe Harbor 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 from those contemplated by the statements. Important factors that could cause actual results to differ materially include the state of the aerospace industry, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, customer preferences, national defense budgets 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.