WEST WARWICK, R.I.--(BUSINESS WIRE)--AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced that it has secured multi-year contracts from several major Asian commercial airlines and leasing companies for AstroNova-manufactured flight deck printers for installation on new aircraft. The contracts vary in duration from four to eight years. Additionally, the Company has established an authorized repair station in Singapore to support its growing presence in the region.
“These latest commitments from Asia are a great endorsement of the many operational benefits provided by our AstroNova avionics products and our expanded regional presence,” said AstroNova President and CEO Greg Woods. “We are pleased to see the continued expansion of our aerospace business into Asia, which solidifies AstroNova as a global leader in flight deck avionics. We look forward to building additional alliances with Asian commercial airlines and leasing companies over the coming quarters.”
According to the International Air Transport Association, the Asia-Pacific region will be the biggest driver of industry growth over the next two decades, with more than half the total number of new passengers coming from these markets.
“The Singapore repair station simplifies logistics and provides rapid turnaround for airlines that operate in the Asia region,” Woods continued. “The station has received the necessary operational certifications to repair AstroNova products from aviation authorities in the US (Federal Aviation Administration), the European Union (European Union Aviation Safety Agency) and China (Civil Aviation Administration of China).”
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 variety of hardware and software
products and associated supplies that allow customers to mark, track and
enhance the appearance of their products. The segment’s two business
units are QuickLabel®, the industry leader in tabletop digital color
label printing and TrojanLabel®, an innovative leader for professional
label presses and specialty printers. The Test and Measurement segment
includes the Test & Measurement business unit, which offers a suite of
products and services that acquire, record and analyze electronic signal
data from local and networked sensors. The segment also includes the
AstroNova Aerospace business unit, which designs and manufactures
avionics equipment and systems that serve the world’s aerospace and
defense industries with proven advanced airborne technology solutions
for both the cockpit and the cabin. The key products include flight deck
printers, networking hardware, and related accessories. 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 multi-year
contracts for AstroNova-manufactured flight deck printers and future
alliances with Asian commercial airlines and leasing companies, 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, 2019 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.
