Astronics Corporation Awarded $40 million IDIQ Contract to Support U.S. Marine Corps Handheld Radio Test Sets Program
April 06 2023 - 8:30AM
Business Wire
Astronics Corporation (Nasdaq: ATRO), a leading provider of
advanced technologies for global aerospace, defense, and other
mission critical industries, announced today that the its wholly
owned subsidiary, Astronics Test Systems, has been awarded a firm
fixed price, indefinite delivery/indefinite quantity (IDIQ) award
to produce portable radio test equipment for the U.S. Marine Corps’
Handheld Radio Test Sets program (“HHRTS”).
The contract is for a five-year term and is valued at
approximately $40 million. An initial task order is expected to be
issued to Astronics in the coming months to be executed over the
remainder of 2023 and 2024.
“We believe this award is validation of our innovation and
technological expertise in test solutions and are pleased to have
been selected for this critical test platform that will likely be
in use for many years,” noted Brian Price, Executive Vice President
of Astronics Test Systems. “We are also excited about the TS-4549/T
radio test program with the U.S. Army, which we believe will be
formalized in the coming months. These two programs together are
significant wins for Astronics Test Systems, and we expect will be
strong contributors to growth in the latter half of 2023 and even
more meaningfully in 2024.”
Under the agreement, Astronics will provide portable radio test
capability to the Marines, ensuring communication systems operate
as designed in remote and forward deployed positions. To win the
program, Astronics leveraged technology developed in recent years
and built on its recent down select win with the U.S. Army for the
TS-4549/T.
About Astronics Corporation
Astronics Corporation (Nasdaq: ATRO) serves the world’s
aerospace, defense, and other mission critical industries with
proven, innovative technology solutions. Astronics works
side-by-side with customers, integrating its array of power,
connectivity, lighting, structures, interiors, and test
technologies to solve complex challenges. For over 50 years,
Astronics has delivered creative, customer-focused solutions with
exceptional responsiveness. Today, global airframe manufacturers,
airlines, militaries, completion centers and Fortune 500 companies
rely on the collaborative spirit and innovation of Astronics. The
Company’s strategy is to increase its value by developing
technologies and capabilities that provide innovative solutions to
its targeted markets.
For more information on Astronics and its solutions, visit
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 and include all statements with regard to reaching any
revenue expectations, contract award timing or receipt of task
orders, rates of growth and the expectations of demand by customers
and markets. 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
continued global impact of COVID-19 and related governmental and
other actions taken in response, trend in growth with passenger
power and connectivity on airplanes, 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 relationships, 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/20230406005205/en/
Company: David C. Burney Executive Vice President and CFO
invest@astronics.com +1.716.805.1599
Investor: Kei Advisors LLC Deborah K. Pawlowski Investor
Relations dpawlowski@keiadvisors.com +1.716.843.3908
Astronics Tests Systems: Elizabeth Cortes Marketing
Communications Manager elizabeth.cortes@astonics.com
+1.407.381.6062
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