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Astronics profits top analyst forecasts

Astronics Corp.'s fourth-quarter profits topped analyst forecasts as the East Aurora aircraft lighting and electronics manufacturer's sales grew by 18 percent.

Astronics said it earned $12.5 million, or 37 cents per share, compared with a loss of $5.6 million, or 18 cents per share, a year ago.

Sales rose to $202.9 million from $171.3 million as the acquisition of Telefonix PDT bolstered aerospace revenues, offsetting a 13 percent decline in sales at its test systems business.

Astronics said it expects sales this year to be up about 8 percent, excluding the semiconductor business that it has sold, to between $760 million and $805 million. Astronics had $803 million in sales during 2018, including revenue from the semiconductor unit.

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