Astronics Corporation Adopts 10b5-1 Trading Plan for Share Repurchase Program
05 June 2019 - 7:39AM
Business Wire
Astronics Corporation (Nasdaq: ATRO), a leading supplier of
advanced technologies and products to the global aerospace and
defense industries, today announced that it has adopted a 10b5-1
plan to facilitate the purchase of shares during periods when it
may otherwise be prevented from acting due to securities laws and
self-imposed blackout periods. Any such purchases would be made
under the company’s previously announced share repurchase
authorization. Effective June 4, 2019, repurchases made under the
plan are subject to Securities and Exchange Commission’s
regulations, as well as certain price, market, volume, and timing
considerations specified in the plan. Since repurchases under the
plan are subject to such constraints, there is no guarantee as to
the exact number of shares, if any, that will be repurchased under
the plan. The plan has been established pursuant to the
authorization by the Company’s Board of Directors for the Company
to repurchase up to $50 million in common stock, which had been
announced on December 18, 2017.
About Astronics Corporation
Astronics Corporation (Nasdaq: ATRO) is a leading supplier of
advanced technologies and products to the global aerospace and
defense industries. Astronics’ products and services include
advanced, high-performance electrical power generation and
distribution systems, seat motion solutions, 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
Web site 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 from what may be stated here include the progress
being made with the three operations having losses, the
continuation of the trend in growth with passenger power and
connectivity on airplanes, the ability of the Company to advance
its Test business, the ability to achieve at or near breakeven
performance in the Test business, the Company’s ability to deliver
a solid 2019, the ability to win new projects in the Test business
and margins to expand with growth, the success of the Company
achieving its sales expectations, 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 and
delivery schedules, the demand for and market acceptance of new or
existing aircraft which contain the Company’s products, the need
for new and advanced test and simulation equipment, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190604006105/en/
Company:David C. Burney, Chief Financial OfficerPhone:
(716) 805-1599, ext. 159Email: david.burney@astronics.com
Investor Relations:Deborah K. Pawlowski, Kei Advisors
LLCPhone: (716) 843-3908Email: dpawlowski@keiadvisors.com
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