Astronics Corporation Selected to Supply Exterior Lighting System for Boeing
EAST AURORA, N.Y., Feb. 25, 2014 (GLOBE NEWSWIRE) -- Astronics Corporation
(Nasdaq:ATRO) ("Astronics"), a leading provider of advanced technologies for
the global aerospace and defense industries, announced today that its
wholly-owned subsidiary, Astronics Luminescent Systems Inc., has been awarded
a multi-year contract to provide exterior lighting for the Boeing 737 MAX.
Astronics will supply a full suite of products that provide the position,
navigation and anti-collision lighting functions for the aircraft. The lights
will utilize light emitting diodes (LEDs) to provide an industry leading
combination of increased reliability and reduced power consumption.
Peter J. Gundermann, President and CEO of Astronics, commented, "We have been
involved in aircraft lighting for many years, and this award demonstrates that
our technology is world class.We first developed LED aircraft lighting for
the F-35 Joint Strike Fighter almost ten years ago and have continued to
improve the technology ever since.With the 737 MAX award, our technology will
be on the most advanced commercial transport, military and business jet
aircraft flying today."
ABOUT ASTRONICS CORPORATION
Astronics Corporation (Nasdaq:ATRO) is a leader in advanced, high-performance
electrical power & motion, lighting & safety, specialized avionics, structure
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, Astronics
AeroSat Corporation, Astronics Advanced Electronic Systems Corp., Ballard
Technology, Inc., DME Corporation, Luminescent Systems Inc., Max-Viz, Inc.,
PECO, Inc. and PGA Electronic S.A, 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
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
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,
the availability of opportunities for growth 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.
David C. Burney, Chief Financial Officer
Phone: (716) 805-1599, ext. 159
Deborah K. Pawlowski, Kei Advisors LLC
Phone: (716) 843-3908
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