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Bookings of $27.9 million
Backlog of $23.2 million
Revenue of $28.0 million
Operating income of $0.4 million
Net income of $0.0 million, or $0.00 per diluted share
EBITDA of $1.7 million, or 6.1% of revenue
WEST WARWICK, R.I.--(BUSINESS WIRE)-- AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced financial results for the fiscal 2021 third quarter ended October 31, 2020.

“Our Product Identification segment delivered both revenue and margin improvements in the quarter while Test & Measurement continued to reflect the effects of the Boeing 737 MAX grounding and COVID-19 on the commercial aerospace industry,” said Greg Woods, AstroNova’s President and Chief Executive Officer. “Overall performance was aided by continuous improvement initiatives and reduced operating expenses. During the quarter we continued to invest in new products and technologies to support growth across our businesses.

“In Product Identification, strong demand from our TrojanLabel®, QuickLabel® and GetLabels® product lines drove year-on-year and sequential growth in both revenue and operating profit,” Woods said. “Our product and technology innovations are attracting a broader base of customers to our color label and specialty printing systems. We are helping businesses across a wide spectrum of industries enhance efficiency, eliminate waste and increase brand recognition.

“In our Test & Measurement segment, growth in our defense business partly offset weakness in commercial aerospace caused by the external headwinds. Looking ahead, recent progress on the potential approval of multiple coronavirus vaccines, and the FAA’s November decision that cleared the 737 MAX for a return to service, bode well for the T&M segment as we move through fiscal 2022 and beyond,” Woods concluded.

Q3 FY 2021 Operating Segment Results

Product Identification segment revenue was $22.9 million, compared with $21.7 million in the prior-year period. Segment operating income was $3.5 million, or 15.4% of revenue, compared with $1.9 million, or 8.6% of revenue, in the prior year, reflecting both increased efficiencies and reductions in operating costs.

Test & Measurement segment revenue was $5.1 million, compared with $11.6 million in the same period of fiscal 2020, due to the continued grounding of the Boeing 737 MAX and rapid demand falloff in the aerospace industry related to COVID-19. The Test & Measurement segment recorded an operating loss of $0.8 million, or negative 14.7% of revenue, compared with segment operating income of $1.4 million, or 12.1% of revenue, in the comparable period of fiscal 2020, a direct result of declines in aerospace printer sales and adverse mix, despite lower manufacturing and operating costs.

Hardware revenue dropped to $7.7 million, compared with $12.2 million in the prior-year period due to Test & Measurement weakness. Supplies revenue was $18.0 million versus $17.7 million in the same period of fiscal 2020. Service/other revenue was $2.4 million, compared with $3.5 million a year earlier.

Q3 FY 2021 Results Summary

Revenue totaled $28.0 million, compared with $33.3 million in the year-earlier period, with a decline in Test & Measurement revenue partly offset by higher revenue in the Product Identification segment.

Gross profit was $9.7 million, or 34.7% of revenue, compared with $12.3 million, or 36.9% of revenue, in the same period of fiscal 2020. The decrease reflected lower revenue and less favorable product mix in the 2021 period, primarily in the Test & Measurement segment.

Operating expenses totaled $9.3 million, down 21.4% compared with $11.9 million in the third quarter of fiscal 2020, reflecting the Company’s cost-reduction actions.

Operating income was $0.4 million in the third quarters of fiscal 2021 and 2020.

Other expense included foreign exchange losses resulting from the weaker Euro and Danish Kroner on exposures in those currencies and higher interest expense.

Net income was $12,000, or $0.00 per share, compared with net income of $0.5 million, or $0.06 per diluted share, for the third quarter of fiscal 2020.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) were $1.7 million, compared with $2.0 million in the third quarter of fiscal 2020. EBITDA is a non-GAAP financial measure explained in greater detail below under “Use of Non-GAAP Financial Measure.” Please refer to the financial reconciliation table included in this news release for a reconciliation of EBITDA to net income for the fiscal third quarters ended October 31, 2020 and November 2, 2019.

Bookings were $27.9 million, compared with $32.6 million in the third quarter of fiscal 2020.

Backlog at October 31, 2020 was $23.2 million versus $20.8 million at the end of the fiscal 2020 third quarter.

Recent Highlights

AstroNova launched a range of new products that expanded its addressable market beyond label printing at the PACK EXPO Connects 2020 international packaging tradeshow. These products included the TrojanLabel T2-C Print and Apply Solution that eliminates intermediate steps in the typical labeling process. Also demonstrated were in-line barcode verification systems and label finishing systems.
AstroNova received an exclusive, multi-year commitment from a major North American air carrier to purchase the Company’s ToughWriter brand of narrow-format flight deck printers for the carrier’s Boeing 737 aircraft.
Q3 FY 2021 Conference Call

AstroNova will discuss its third-quarter fiscal 2021 financial results in an investor conference call at 9:00 a.m. ET today. To participate on the conference call, please dial (800) 367-2403 (U.S. and Canada) or (334) 777-6978 (International) approximately 10 minutes prior to the start time and enter confirmation code 2309769.

You can hear a replay of the conference call from 12:00 p.m. ET Monday, December 7, 2020 until 12:00 p.m. ET on Monday, December 14, 2020 by dialing (888) 203-1112 (U.S. and Canada) or (719) 457-0820 (International). The passcode is 2309769. A real-time and an archived audio webcast of the call will be available through the “Investors” section of the AstroNova website, https://investors.astronovainc.com.

Use of Non-GAAP Financial Measure

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this news release contains the non-GAAP financial measure earnings before interest, taxes, depreciation, and amortization (EBITDA). AstroNova believes that the inclusion of this non-GAAP financial measure helps investors gain a meaningful understanding of changes in the Company's core operating results, and also can help investors who wish to make comparisons between AstroNova and other companies on both a GAAP and a non-GAAP basis. AstroNova’s management uses EBITDA, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. EBITDA also is used by the Company’s management to assist with their financial and operating decision-making.

About AstroNova

AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes, and services a broad range of products that acquire, store, analyze, and present data in multiple formats. The Product Identification segment offers a complete line-up of labeling hardware and supplies, allowing customers to mark, track, and enhance their products' appearance. The segment is comprised of three business units: QuickLabel®, the industry leader in tabletop digital color label printing; TrojanLabel®, an innovative leader for professional label presses; and GetLabels™, the premier supplier of label materials, inks, toners, ribbons, and adhesives, all compatible with the major printer brands. Supported by AstroNova's customer application experts and technology leadership in printing, material science, and high-speed data processing, customers benefit from an optimized, "total solution" approach. The Test and Measurement segment includes the AstroNova Aerospace business unit, which designs and manufactures flight deck printers, networking hardware, and related accessories serving the world's aerospace and defense industries with proven advanced airborne technology solutions for the cockpit and the cabin; and the Test and Measurement business unit, which offers a suite of products and services that acquire, record, and analyze electronic signal data from local and networked sensors. AstroNova is a member of the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting www.astronovainc.com.

Forward-Looking Statements

Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company’s anticipated performance, clearance of the 737 MAX to return to service, and the potential approval of a coronavirus vaccine, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

Scott Solomon
Senior Vice President
Sharon Merrill Associates
(617) 542-5300
ALOT@investorrelations.com

WEST WARWICK, R.I.--(BUSINESS WIRE)-- AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced that Gregory A. Woods, President and Chief Executive Officer, and David S. Smith, Vice President, Treasurer and Chief Financial Officer, will be presenting at the 13th Annual LD Micro Main Event Investor Conference. The presentation is scheduled to begin at 9:00 a.m. ET Tuesday, December 15, 2020.

A live webcast of the AstroNova presentation will be available at https://bit.ly/3oNuwgb and on the “Investors” section of the Company’s website, https://investors.astronovainc.com. The event will be archived on the website for 90 days.

The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts.

About AstroNova

AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes, and services a broad range of products that acquire, store, analyze, and present data in multiple formats. The Product Identification segment offers a complete line-up of labeling hardware and supplies, allowing customers to mark, track, and enhance their products' appearance. The segment is comprised of three business units: QuickLabel®, the industry leader in tabletop digital color label printing; TrojanLabel®, an innovative leader for professional label presses; and GetLabels™, the premier supplier of label materials, inks, toners, ribbons, and adhesives, all compatible with the major printer brands. Supported by AstroNova's customer application experts and technology leadership in printing, material science, and high-speed data processing, customers benefit from an optimized, "total solution" approach. The Test and Measurement segment includes the AstroNova Aerospace business unit, which designs and manufactures flight deck printers, networking hardware, and related accessories serving the world's aerospace and defense industries with proven advanced airborne technology solutions for the cockpit and the cabin; and the Test and Measurement business unit, which offers a suite of products and services that acquire, record, and analyze electronic signal data from local and networked sensors. AstroNova is a member of the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting www.astronovainc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005189/en/

Scott Solomon
Senior Vice President
Sharon Merrill Associates
(617) 542-5300
ALOT@investorrelations.com

RFID technology has been gaining traction in the healthcare sector, but standardized tools for tracking medications, devices and consumables are lacking. DoseID, a US consortium and the first industry association dedicated to standardizing the use of RFID tags in healthcare, was established for the purpose of introducing an industry-wide standard. Schreiner MediPharm has joined this alliance of leading players in the healthcare sector.

DoseID’s goal is to ensure the interoperability, quality and performance of RFID-tagged drug products as they move through the pharmaceutical supply chain. The drugs are tracked across all hardware and software systems—from the manufacturer, through the distributor, to the hospital and eventually to the patient.

Pharmaceuticals can be successfully tracked by serializing medications, containers and devices. In addition, the RFID tags have to deliver reliable performance in all hospital and healthcare IT systems so that products can be tracked at unit level and across their entire lifecycle. RFID-Labels from Schreiner MediPharm are important enablers in this context: They allow frictionless integration and smooth processing on unit-level pharmaceutical packaging lines–improving the automation of processes to increase efficiency, but most importantly to enhance patient and drug safety.

“As a long-term provider of customized RFID labels for the healthcare industry we see the need for interoperability and quality standards as essential to leveraging the full potential of RFID. We look forward to being part of the DoseID consortium to mutually drive RFID-based smart solutions to enhance the pharmaceutical supply chain," says Stefan Wiedemann, Senior Director Strategic Marketing and Business Development at Schreiner MediPharm.

The serialization on unit level enabled by DoseID surpasses the requirements of the Drug Supply Chain Security Act (DSCSA), a standard securing the US supply chain of prescription drugs. To ensure adherence to the standards established by the consortium and conformity with the requirements of pharmaceutical manufacturers, compounding pharmacies, pharmacy automation services providers, and manufacturers of RFID inlays and tags, a special RFID tag certification is additionally awarded after third party testing.

About DoseID
Dose ID was established in August 2020. Members include Omnicell Inc., Sandoz, Baxter, Hikma, Leiters, Nephron Pharmaceuticals, Avery Dennison and Kit Check. Some concepts have already been successfully implemented: more than 120 million units have been tagged to date. https://doseid.com

For additional information, contact:
Schreiner MediPharm, a business unit of
Schreiner Group GmbH & Co. KG
Bruckmannring 22
85764 Oberschleissheim
Germany
Phone +49 89 31584-5400
Fax +49 89 31584-5422
info@schreiner-medipharm.com
www.schreiner-medipharm.com

The presentation of the 2020 FINAT Awards was a resounding success for Schreiner Group. The high-tech company based in the Munich metropolitan area convinced the jury of its product entries in three categories: The Autoinjector-Label and the Covert-Hologram Seal from Schreiner MediPharm and a translucent Color Film with a value-adding function from Schreiner ProTech each received a first-place award. The annual awards are presented by the European Association for the Self-Adhesive Label Industry (FINAT) that celebrates its 40th anniversary this year.

Schreiner Group went home with no fewer than three prizes from this year’s awards ceremony of the FINAT Label Competition, although the expression “went home” was not completely appropriate: For the first time in FINAT’s history, the awards ceremony was held without guests and an in-person audience, but streamed online. Even though, due to corona, the setting was unusual for everyone, it was a gratifying and memorable occasion. Schreiner Group was represented by Dr. Josef Adelsberger, who leads a research and development team and, as a winner, was on camera during the event.

One of the awards went to Schreiner MediPharm’s Autoinjector-Label for TEVA in the “Pharmaceutical” category. This label featuring special abrasion protection was developed by Schreiner Group’s business unit for TEVA, a globally active Israeli pharmaceutical corporation, for the purpose of ensuring permanent legibility of all the vital user instructions and product information. In 2019 the label had won the TLMI Award. Another product entry from Schreiner MediPharm, the multifunctional Covert-Hologram Seal, was award first place in the “Security” category. Due to an initially covert holographic effect, this label provides reliable, irreversible tamper evidence for pharmaceutical packaging and additionally features covert counterfeit protection elements.

Another award went to a translucent Color Laser Film from Schreiner ProTech in the “Industrial” category. This product entry is a partially light-permeable marking solution that permits backlighting of customized inscriptions or symbols and, due to its double-sided adhesive coating, additionally functions as a component bonding technique. It combines the positive properties of the classic Color Laser Film (CLF) with the benefits of translucency and the performance characteristics of Schreiner ProTech’s bonding solutions.

For President and CEO Roland Schreiner, the prizes once again underscore the innovative prowess of the family-owned and managed company: “I’m delighted about these awards because they show that our products stand out in a wide range of sectors. This is great motivation for all of our employees.”

For more information, please contact:

Susanne Höppner, Corporate Communications
Phone +49 89 31584-5852,

susanne.hoeppner@schreiner-group.com

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SANTA CLARA, Calif., Dec. 08, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced Rani Borkar will join its Board of Directors effective Dec. 14. Ms. Borkar brings decades of expertise in semiconductor design and computing systems development to Applied and will serve on the Board’s Strategy and Investment Committee.

“Rani is a well-respected technology leader and product visionary, and we look forward to her contributions as we drive growth and build long-term shareholder value for Applied Materials,” said Tom Iannotti, Chairman of the Board of Applied Materials. “Her experience in chip design and cloud computing provide valuable insights as Applied looks to expand its ecosystem engagements from materials to systems.”

Ms. Borkar is currently Corporate Vice President, Azure Hardware Systems and Infrastructure at Microsoft Corporation. In this role she leads the core organizations building Microsoft’s leading cloud computing platform, including silicon, systems and supply chain. Ms. Borkar has extensive experience in cutting-edge semiconductor design having served in engineering and executive roles at IBM Corporation and Intel Corporation. At Intel, where she spent 27 years of her career, Ms. Borkar was most recently Corporate Vice President and General Manager of the Product Development Group, overseeing all processor and System-on-a-Chip (SoC) development for PC clients, servers, phones and tablets.

Ms. Borkar is a member of the board for the Global Semiconductor Alliance (GSA) and serves as the Chair of the Board of Trustees at Oregon State University to help guide the state’s effort to advance economic development and innovation. She holds a bachelor’s degree and master’s degree in physics from the University of Mumbai, India and a master’s degree in electrical engineering from the Oregon Graduate Center. Ms. Borkar also holds an Executive Program in Leadership (LEAD) certificate from the Stanford University Graduate School of Business.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.appliedmaterials.com.

Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977

SANTA CLARA, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced the recipients of its 2020 Supplier Excellence Awards for contributions made to Applied’s business over the past year. The awards reflect outstanding technical and operational performance in several areas including quality, service, lead time, delivery, cost and responsiveness.

“This past year more than any other has shown the importance of having a resilient and agile supply chain,” said Dr. Gino Addiego, senior vice president of Engineering, Operations and Quality at Applied Materials. “I want to thank all our suppliers, especially our 2020 Supplier Excellence Award recipients, for helping Applied Materials fulfill our customer commitments and deliver innovative materials engineering solutions to the industry.”

The following 11 companies received Supplier Excellence Awards in their designated categories for consistently meeting or exceeding Applied’s performance expectations over the past year:

Best in Class Performance
ETLA Limited
Foxsemicon Integrated Technology Inc.
Richport Technology
SINFONIA TECHNOLOGY CO., LTD
THERM-X

Excellence in Aftermarket Support
NTK Technologies, Inc.
Tokai Carbon Korea

Excellence in Innovation and New Product Support 
FM Industries, Inc. an NGK Group Company
NorCal Engineering Inc.
TRUMPF Huettinger

Excellence in Quality
Chenfull International CO., Ltd.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.appliedmaterials.com.

Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977