Tue, Sep 17, 7:01 PM (294 days ago)
AstroNova, Inc. reported a 14.1% increase in revenue to $40.5 million for Q2 FY2025, driven by a 37.2% rise in the Test & Measurement (T&M) segment, particularly in aerospace printer sales. The Product Identification (PI) segment experienced a slight decline in hardware sales but overall revenue remained stable. Gross profit surged 47.5% to $14.3 million, with a gross margin improvement to 35.3%, attributed to favorable pricing and product mix. Operating expenses rose 21.6% to $13.3 million, primarily due to increased general and administrative costs linked to acquisition expenses. The company reported a net loss of $311,000, significantly improving from a $1.6 million loss in the prior year, despite incurring transaction costs related to the MTEX acquisition. Cash flow from operations improved to $7.1 million, reflecting effective working capital management. As of August 3, 2024, total debt rose to $29.3 million, following the acquisition of MTEX, which is projected to enhance future growth. The company anticipates positive revenue growth moving forward, fueled by the integration of MTEX and recovery in hardware sales.