Astronics to Acquire EADS North America Test and Services Division

Astronics to Acquire EADS North America Test and Services Division

EAST AURORA, N.Y., Jan. 21, 2014 (GLOBE NEWSWIRE) -- Astronics Corporation
(Nasdaq:ATRO), a leading provider of advanced technologies for the global
aerospace and defense industries, announced today that it has entered into a
definitive agreement to acquire substantially all of the assets and
liabilities of EADS North America's Test and Services division (EADS T&S) for
approximately $53 million in cash plus a net working capital adjustment. The
agreement is expected to close in February, subject to normal closing
requirements including Hart-Scott-Rodino approval. Upon closing, EADS T&S will
be reported in Astronics' Test Systems segment.

EADS T&S, located in Irvine, California, is a leading provider of highly
engineered automatic test systems (ATS), subsystems and instruments for the
semi-conductor, consumer electronics, commercial aerospace and defense
industries. EADS T&S provides fully customized testing systems and support
services for these markets.It also designs and manufactures test equipment
under the well-respected test instrument brands known as Racal and Talon.

EADS T&S had 2013 sales of approximately $70 million.Sales for 2014 for the
business are expected to be approximately $100 million.

Peter J. Gundermann, CEO of Astronics, commented, "EADS T&S has developed a
strong presence in a diversified set of industries, which provides a broad
range of market opportunities for growth.We also believe that the business
possesses a skill set which is highly complementary to our own, and together
we will field a stronger team than either entity would do on their own."

EADS T&S was founded in 1950 as Racal Electronic Group and currently has about
210 employees.

Houlihan Lokey acted as the exclusive financial advisor to EADS North America,
Inc.

Webcast and Teleconference Call

The Company will host a teleconference call and webcast on Tuesday, January
21, 2014 at 11:00 AM ET, during which Peter J. Gundermann, President and CEO,
and David C. Burney, Executive Vice President and CFO, will review the details
of the acquisition.A question-and-answer session will follow.

The Astronics conference call can be accessed by calling (201) 689-8562. The
listen-only audio webcast can be monitored at www.astronics.com.To listen to
the archived call, dial(858) 384-5517 and enter conference ID number
13574965. The telephonic replay will be available from 2:00 PM ET on the day
of the call through Tuesday, January 28, 2014. A transcript will also be
posted to the Company's Web site, once available.

About Astronics Corporation

Astronics Corporation is a leader in advanced, high-performance lighting,
electrical power, specialized avionics products 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, AeroSat, Astronics Advanced Electronic Systems
Corp., Ballard Technology, Inc., DME Corporation, Luminescent Systems Inc.,
Max-Viz, Inc., PECO, Inc. and PGA Electronic, 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 website 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 ability to the success of the acquired company,
achieving expected revenue levels, successfully leveraging complementary
capabilities in the Test Systems segment, the state of the aerospace and
defense industries, the 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: David C. Burney, Chief Financial Officer
         Phone: (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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