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Astronics' profits fall 49 percent in second quarter

Astronics Corp. reported profits of $7.7 million in the second quarter, down 49 percent from $15 million a year ago, and has lowered its revenue projections for this year.

Astronics was impacted by a lull in orders, said Peter J. Gundermann, president and CEO of the East Aurora aerospace company. "Our second quarter was disappointing as a result of continued slippage of programs into the future, but we remain enthusiastic with the significance of these opportunities for when they do come to fruition."

Astronics now forecasts 2017 sales in the range of $625 million to $645 million, down from its previous guidance of $635 million to $690 million.

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