EAST AURORA, N.Y., Feb. 25, 2014 (GLOBE NEWSWIRE) -- Astronics Corporation (Nasdaq:ATRO) ("Astronics"), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that its wholly-owned subsidiary, Astronics Luminescent Systems Inc., has been awarded a multi-year contract to provide exterior lighting for the Boeing 737 MAX.
Astronics will supply a full suite of products that provide the position, navigation and anti-collision lighting functions for the aircraft. The lights will utilize light emitting diodes (LEDs) to provide an industry leading combination of increased reliability and reduced power consumption.
Peter J. Gundermann, President and CEO of Astronics, commented, "We have been involved in aircraft lighting for many years, and this award demonstrates that our technology is world class. We first developed LED aircraft lighting for the F-35 Joint Strike Fighter almost ten years ago and have continued to improve the technology ever since. With the 737 MAX award, our technology will be on the most advanced commercial transport, military and business jet aircraft flying today."
ABOUT ASTRONICS CORPORATION
Astronics Corporation (Nasdaq:ATRO) is a leader in advanced, high-performance electrical power & motion, lighting & safety, specialized avionics, structure products and automated test systems for the global aerospace and defense industries. Astronics' strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics Corporation, and its wholly-owned subsidiaries, Astronics AeroSat Corporation, Astronics Advanced Electronic Systems Corp., Ballard Technology, Inc., DME Corporation, Luminescent Systems Inc., Max-Viz, Inc., PECO, Inc. and PGA Electronic S.A, have 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 Web site 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 include 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, the availability of opportunities for growth 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.
David C. Burney, Chief Financial Officer
Phone: (716) 805-1599, ext. 159
Deborah K. Pawlowski, Kei Advisors LLC
Phone: (716) 843-3908
Source: Astronics Corporation