Astronics Corporation Awarded Contract for Night Vision Compatible Lighting System for F-16 Aircraft Fleet
July 20 2016 - 04:15PM
Astronics Corporation (NASDAQ:ATRO), a leading supplier of
technological solutions to the global aerospace, defense, and
semiconductor industries, today announced it has been awarded a
contract to provide night vision compatible lighting systems for an
undisclosed country’s fleet of F-16 aircraft. The award
covers both design and development as well as product production.
The contract is being administered through the U.S.
government’s foreign military sales program and is expected to be
completed over the next 24 months. Its value exceeds $5
million, with over 90% of the contract’s revenue anticipated in
2017 and 2018.
Astronics will develop a complete lighting system that will
enable the aircraft to be piloted using night vision goggles.
It includes exterior and cockpit lighting as well as related
products required to modify the aircraft wiring and control
systems. Over the past 20 years, Astronics’ lighting systems
have been used to modify over 1,200 F-16 aircraft in the U.S. and
around the world.
Peter J. Gundermann, President and CEO of Astronics, commented,
“This award builds on our strong legacy of providing world class
lighting systems to the global aerospace market. In addition
to our long history with the F-16, we provide lighting systems on
virtually every major fighter, rotorcraft and transport aircraft
flown by militaries worldwide, including the F-18, F-35, UH-60,
V-22, CH-53K, C-130 and KC-390 to name just a few.”
ABOUT ASTRONICS CORPORATION Astronics
Corporation (NASDAQ:ATRO) is a leading supplier of products to the
global aerospace, defense and semiconductor industries.
Astronics’ products include advanced, high-performance electrical
power generation, distribution and motion systems, lighting and
safety systems, avionics products, aircraft structures, systems
certification, and automated test systems. Astronics’
strategy is to increase its value by developing technologies and
capabilities, either internally or through acquisition, and using
those capabilities to provide innovative solutions to its targeted
markets and other markets where its technology can be
beneficial. Through its wholly-owned subsidiaries, Astronics
has 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 website 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 capabilities 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.
For more information contact:
Company:
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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