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Astronics Corporation Announces Anticipated Test Systems Order for USAF VDATS Program

Dépèche transmise le 7 juin 2011 par Business Wire

Astronics Corporation Announces Anticipated Test Systems Order for USAF VDATS Program

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 the Patrick Wolffe Group (PWG) team, comprising PWG and Astronics DME, has been selected by the U.S. Air Force to build and provide logistics and systems support for the Versatile Depot Automatic Test Station (VDATS) program. The Air Force conducted the VDATS competition as a Small Business Acquisition program.

“We look forward to working with PWG to make this program a resounding success for our end customer.”

Astronics Corporation, through its subsidiary Astronics DME, partnered with PWG and will be responsible for the logistics and systems support for the testers which will be produced by PWG or otherwise procured by the USAF. The value of the program will depend on the quantity and rate at which the testers are put under contract for support by the USAF. Astronics anticipates that the period of performance covered by the contract would be three years with two additional option years, and that the total contract value for Astronics could range from $5 million to over $20 million over that period, depending on the rate and quantity of fielded units. The Company expects that individual task orders for logistics and systems support would be awarded throughout the period of performance. An initial order is expected within 60 days.

“Astronics is committed to the advancement of its unique software-based test systems technology and broadening its application around the world. We are excited at being awarded the opportunity to participate in our first major test systems program with the U.S. Air Force,” said Peter J. Gundermann, CEO of Astronics. “We look forward to working with PWG to make this program a resounding success for our end customer.”

The Company reaffirmed its 2011 revenue guidance to be in the range of $210 million to $225 million.

ABOUT PATRICK WOLFFE GROUP

The Patrick Wolffe Group is an ISO 9001-2000 certified veteran-owned small business providing services to the Federal Government and the private sector in the areas of management services, program management, systems integration of automated test equipment and logistics services.

ABOUT ASTRONICS CORPORATION

Astronics Corporation is a leader in advanced, high-performance lighting, electrical power and automated test systems for the global aerospace and defense industries. 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, Astronics Advanced Electronic Systems Corp., DME Corporation 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 Web site at www.Astronics.com.

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

Safe Harbor Statement

This news 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 expressions. 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 and defense industries, 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, 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 news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.