Astro-Med, Inc. Reports Record Sales and Orders, Strong

Astro-Med, Inc. Reports Record Sales and Orders, Strong Earnings for
the Fiscal Third Quarter; Directors Declare Regular Cash Dividend 
WEST WARWICK, RI -- (Marketwire) -- 11/20/12 --  Rhode Island-based
electronics manufacturer Astro-Med, Inc. (NASDAQ: ALOT) reports Net
Sales of $20,562,000 and Net Income of $1,308,000, equal to 18 cents
per diluted share for the Third Quarter ended October 27, 2012.
Unfavorable foreign exchange rates decreased this year's Third
Quarter Sales by approximately $204,000, or 1.0%. For the
corresponding period of the prior year, the Company reported Net
Sales of $19,569,000 and Net Income of $800,000, equal to 11 cents
per diluted share. The previous year's Third Quarter Net Income
includes a tax benefit of approximately $113,000, or 2 cents per
diluted share, due to a favorable adjustment in the filing of the
prior year's tax returns.  
For the nine months ended October 27, 2012, Astro-Med reports Net
Sales of $58,559,000 and Net Income of $3,131,000, equal to 42 cents
per diluted share. Unfavorable foreign exchange rates decreased this
year's nine-month sales by approximately $872,000, or 1.5% when
compared to the previous year. For the corresponding nine-month
period last year, the Company reported Net Sales of $58,764,000 and
Net Income of $2,277,000, equal to 31 cents per diluted share. The
current year's Net Income includes a tax benefit of $302,000, or 4
cents per diluted share, due to a favorable resolution of a
previously uncertain tax position. The prior year's Net Income
included income of $300,000, equal to 4 cents per diluted share,
related to the disposition on an insurance policy, as well as a tax
benefit of approximately $113,000, or 2 cents per diluted share, from
a favorable adjustment in the filing of the prior year's tax returns. 
On a Non-GAAP basis, Astro-Med has earned 38 cents per diluted share
during the current nine-month period of Fiscal Year 2013, compared
with earnings of 25 cents per diluted share during the same period of
the prior year. 
CEO Commentary 
Commenting on the results, Everett V. Pizzuti, Astro-Med Inc.
President and Chief Executive Officer, said: "We are very pleased
with the Company's financial results for the Fiscal Third Quarter.
Astro-Med achieved a new record in the volume of
 new customer orders
with Bookings reaching $21,253,000 for the Quarter. This level of new
business reflects a 17.2% increase in Orders Received over the
previous year's Orders Received after excluding the divested North
Carolina label business. Sales Revenue during the Quarter reached
record levels with billings at $20,562,000, reflecting a growth rate
of 10.4% over the Prior Year's Third Quarter Sales, after excluding
the divested NC label business. We experienced growth in both our
Domestic and International channels with domestic sales at
$14,642,000, increasing by 10.5% over last year after excluding the
divested NC label business; while international shipments of
$5,920,000 increased 8.8% over the previous year. We also made good
progress improving the profitability of the Company's operations with
Gross Profit Margins at 43.0% for the Quarter and our Operating
Margins at 10.2%. We anticipate this trend to continue. 
"Our Balance Sheet remains solid with cash and marketable securities
at $22,963,000, an efficient working capital position with Accounts
Receivable at 46 Days Sales Outstanding and Inventory levels at 111
Days On Hand; we are debt free and our Book Value per share has risen
to $7.74. 
"Notwithstanding the uncertainty in today's domestic and
international markets, we are cautiously optimistic with Astro-Med's
prospects for the 4th Quarter and FY 2013 as a whole. We will
continue to drive sales growth and improved profitability from a
combination of strategic initiatives, product innovations, selective
acquisitions and productivity improvements." 
Astro-Med, Inc. Directors Declare Regular Cash Dividend 
On November 19, 2012, the Directors of Astro-Med, Inc. declared the
regular quarterly cash dividend of $0.07 per share, payable on
December 27, 2012 to shareholders of record as of December 7, 2012. 
Third Quarter Conference Call to be held Wednesday, November 21, 2012 
The Astro-Med, Inc. Third Quarter conference call will be held on
Wednesday, November 21, 2012, at 11:00 AM EST. It will be broadcast
in real time on the Internet and will be available through the
Investing Section of our website. We invite you to log on and listen
in or participate in real time by dialing 1-877-941-0844 with
passcode 4568960.  
The Astro-Med, Inc. webcast is also being distributed through the
Thomson StreetEvents Network. Individual investors can listen to the
call at www.earnings.com, Thomson's individual investor portal,
powered by StreetEvents. Institutional investors can access the call
via Thomson StreetEvents (www.streetevents.com), a password-protected
event management site.  
Following the live broadcast, a webcast of the recorded call will be
available for ten days at www.Astro-MedInc.com. A telephone replay of
the conference call will also be available for seven days by dialing
800-406-7325 with passcode 4568960.  


 
                                                                            
                                                                            
                                                                            
                               Astro-Med, Inc.                              
                    Consolidated Statements of Operations                   
                   In Thousands Except for Per Share Data                   
                                 (Unaudited)                                
                                                                            
                            Three-Months Ended         Nine-Months Ended    
                         October 27,  October 29,  October 27,  October 29, 
                             2012         2011         2012         2011    
                         -----------  -----------  -----------  ----------- 
Net Sales                $    20,562  $    19,569  $    58,559  $    58,764 
Gross Profit                   8,838        8,014       24,508       23,416 
                                43.0%        41.0%        41.9%        39.8%
Operating Expenses:                                                         
  Marketing & Selling          4,431        4,555       12,973       13,647 
  Research & Development       1,126        1,262        3,538        3,917 
  General &                                                                 
   Administrative              1,188        1,009        3,339        2,884 
                         -----------  -----------  -----------  ----------- 
                               6,745        6,826       19,850       20,448 
                                                                            
Operating Income               2,093        1,188        4,658        2,968 
                                10.2%         6.1%         8.0%         5.1%
                                                                            
Other (Expense)/Income                                                      
 Net                              47          (69)         (56)         379 
                         -----------  -----------  -----------  ----------- 
                                                                            
Income Before Taxes            2,140        1,119        4,602        3,347 
          
                                                                  
Income Tax Provision                                                        
 (Benefit)                       832          319        1,471        1,070 
                         -----------  -----------  -----------  ----------- 
                                                                            
Net Income               $     1,308  $       800  $     3,131  $     2,277 
                         ===========  ===========  ===========  =========== 
                                                                            
Net Income Per Share -                                                      
 Basic                   $      0.18  $      0.11  $      0.42  $      0.31 
                         ===========  ===========  ===========  =========== 
Net Income Per Share -                                                      
 Diluted                 $      0.18  $      0.11  $      0.42  $      0.31 
                         ===========  ===========  ===========  =========== 
                                                                            
Weighted Average Number                                                     
 of Common Shares -                                                         
 Basic                         7,379        7,340        7,414        7,300 
Weighted Average Number                                                     
 of Common Shares -                                                         
 Diluted                       7,462        7,421        7,487        7,423 
                                                                            
Dividends Declared Per                                                      
 Common Share            $      0.07  $      0.07  $      0.21  $      0.21 
                                                                            
                                                                            
                                                                            
                   Reconciliation of Non-GAAP Adjustments                   
                                  (Unaudited)                               
                                                                            
                             Three-Months Ended        Nine-Months Ended    
                          October 27, October 29,  October 27,  October 29, 
                              2012        2011         2012         2011    
                          ----------- -----------  -----------  ----------- 
GAAP based results:                                                         
Net Income Per Share -                                                      
 Diluted                  $      0.18 $      0.11  $      0.42  $      0.31 
                                                                            
Non-GAAP adjustments:                                                       
Favorable adjustment in                                                     
 the filing of prior year                                                   
 tax returns                                (0.02)                    (0.02)
                                                                            
Disposition of an                                                           
 insurance policy                   -           -                     (0.04)
                                                                            
Favorable resolution of a                                                   
 previously uncertain tax                                                   
 position                           -           -  $     (0.04)           - 
                          ----------- -----------  -----------  ----------- 
                                                                            
Non-GAAP Net Income Per                                                     
 Share - Diluted          $      0.18 $      0.09  $      0.38  $      0.25 
                          =========== ===========  ===========  =========== 
                                                                            
                                                                            
                                                                            
                         Selected Balance Sheet Data                        
                                In Thousands                                
                                 (Unaudited)                                
                                                                            
                                                     As of         As of    
                                                  October 27,   January 31, 
                                                      2012          2012    
                                                 ------------- -------------
Cash & Marketable Securities                     $      22,963 $      23,040
Current Assets                                   $      52,949 $      52,478
Total Assets                                     $      66,937 $      67,062
Current Liabilities                              $       7,530 $       8,272
Shareholders' Equity                             $      56,757 $      55,663

 
About Astro-Med, Inc. 
Astro-Med, Inc. is a leading manufacturer of specialty high tech
printing systems, electronic medical instrumentation, and test and
measurement data acquisition systems. Astro-Med, Inc. products are
sold under the brand names Astro-Med(R), Grass(R) Technologies and
QuickLabel(R) Systems, and are employed around the world in a wide
range of aerospace, medical, military, industrial, labeling and
packaging applications. Astro-Med, Inc. is a member of the Russell
Microcap(R) Index. Additional information is available by visiting
www.Astro-MedInc.com.  
Safe Harbor Statement 
This news release contains forward-looking statements, and actual
results may vary from those expressed or implied herein. Factors that
could affect these results include those mentioned in Astro-Med's
FY2012 annual report and its annual and quarterly filings with the
Securities and Exchange Commission. 
Contact: 
Everett V. Pizzuti
CEO
Joseph P. O'Connell
CFO
Tel: 800-343-4039 
www.Astro-MedInc.com