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Astronics Completes Acquisition of PGA Electronic



Astronics Completes Acquisition of PGA Electronic

EAST AURORA, N.Y., Dec. 6, 2013 (GLOBE NEWSWIRE) -- Astronics Corporation
(Nasdaq:ATRO), a leading provider of advanced technologies for the global
aerospace and defense industries, announced today that it completed the
acquisition of PGA Electronic ("PGA") on December 5, 2013 for approximately
$31.2 million. Approximately $17.5 million of the purchase price was paid in
cash and the balance was paid by the issuance of 264,168 shares of Astronics
common stock with a market value at the time of closing of $13.7 million.

Astronics had previously announced that it entered into a definitive agreement
to acquire PGA Electronic on November 4, 2013.

PGA Electronic, located in Châteauroux, France, was established in 1989 and
has about 190 employees. PGA designs and manufactures seat motion and lighting
systems, primarily for business and first class aircraft seats, and is
Europe's leading provider of in-flight entertainment/communication systems, as
well as cabin management systems for private VVIP aircraft. Its customers are
primarily aircraft seat manufacturers and corporate jet completion
centers. Approximately 90% of PGA's sales are in Europe. For its fiscal year
2013, which ended August 31, 2013, PGA had sales of approximately $44
million. The business generates margins similar to those of Astronics.

ABOUT ASTRONICS CORPORATION

Astronics Corporation is a leader in advanced, high performance lighting,
electrical power and automated test systems for the global aerospace and
defense industries. Astronics' strategy is to develop and maintain positions
of technical leadership in its chosen aerospace and defense markets, to
leverage those positions to grow the amount of content and volume of product
it sells to those markets and to selectively acquire businesses with similar
technical capabilities that could benefit from our leadership position and
strategic direction. Astronics Corporation and its wholly-owned subsidiaries,
Astronics Advanced Electronic Systems Corp., Ballard Technology, Inc., DME
Corporation, Luminescent Systems Inc., Max-Viz, Inc., AeroSat and PECO, Inc.,
have a reputation for high-quality designs, exceptional responsiveness, strong
brand recognition and best-in-class manufacturing practices. The Company
routinely posts news and other important information on its Web site at
www.astronics.com.

For more information on Astronics and its products, visit its Web site at:
www.Astronics.com.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the
Securities Exchange Act of 1934. One can identify these forward-looking
statements by the use of the words "expect," "anticipate," "plan," "may,"
"will," "estimate" or other similar expressions.  Because such statements
apply to future events, they are subject to risks and uncertainties that could
cause actual results to differ materially from those contemplated by the
statements.  Important factors that could cause actual results to differ
materially include the state of the aerospace and defense industries, the
success of acquisitions, market acceptance of newly developed products,
internal production capabilities, the timing of orders received, the status of
customer certification processes, the demand for and market acceptance of new
or existing aircraft which contain the Company's products, customer
preferences, and other factors which are described in filings by Astronics
with the Securities and Exchange Commission.  The Company assumes no
obligation to update forward-looking information in this news release whether
to reflect changed assumptions, the occurrence of unanticipated events or
changes in future operating results, financial conditions or prospects, or
otherwise.

CONTACT: For more information contact:
         Company:
         David C. Burney, Chief Financial Officer
         (716) 805-1599, ext. 159
         Email: david.burney@astronics.com
        
         Investor Relations:
         Deborah K. Pawlowski, Kei Advisors LLC
         Phone: (716) 843-3908
         Email: dpawlowski@keiadvisors.com

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