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Astronics hikes sales forecast as orders roll in

Astronics Corp. is expecting this year to be even better than it expected.

The East Aurora aircraft lighting and electronics maker increased its 2018 sales forecast by about 10 percent on Friday, causing its stock to jump by 12 percent.

Astronics now says it expects its sales this year to range between $745 million and $815 million, up from its November forecast of $675 million to $750 million. The company said strong order bookings during the fourth quarter, which totaled $229 million, were the reason.

The company also said it expects to take a $16 million write-down against its fourth-quarter earnings because of a goodwill impairment charge at its Armstrong Aerospace business.

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