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).”
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.
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.