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Astronics (Nasdaq: ATRO) announced the delivery of 350 shipsets of its EmPower® UltraLite G2 USB Power System since its launch in 2022.
Another 300 systems are scheduled for delivery by the end of 2024. This system, which is 30% to 40% lighter than previous models, is designed to reduce carbon emissions and is highly efficient, offering up to 60W of power at each seat.
The EmPower UltraLite G2 is well-suited for both new aircraft and retrofits, providing flexibility with USB Type A and Type C outlets. The system supports carbon neutrality initiatives by reducing the overall weight and increasing efficiency.
Astronics (Nasdaq: ATRO) announced contracts valued up to $75 million over the next 3 to 5 years for their Dual-Modem Modem Manager (ADMM). The ADMM enhances inflight entertainment and connectivity by managing communication between satellite and cabin wireless access points, ensuring reliable IP communications for passengers, crew, and operations personnel.
The ADMM supports multi-orbit, multi-band capabilities and is adaptable to various satellite networks, offering flexibility for Managed Service Providers, airlines, and OEMs. Its modem-agnostic design is customizable to operator needs, supporting both Ku and Ka satellites. Astronics has over 5,000 aircraft equipped with their inflight entertainment and connectivity hardware globally.
Astronics (Nasdaq: ATRO) reported strong first quarter financial results for 2024, with sales growing by 18% to $185.1 million. Operating income was $1.7 million, adjusted EBITDA was $19.1 million, maintaining a record backlog of $612.5 million. Aerospace segment showed significant growth, with bookings of $205.3 million. The Company expects continued growth in 2024.