Traders focused tech stock: AstroNova, Inc. (NASDAQ: ALOT)

On Friday, AstroNova, Inc. (NASDAQ: ALOT) moved red -0.84% in trading session and finally closed at $17.80. The firm after opening the first trading session at $17.95 Over the one year trading period, the stock has an above price of $20.00 and it’s below is recorded at $11.00. The company has a market cap of $122.08M. The company most recent volume stood at 38,635 shares as compared to its average volume of 18,550 shares.

AstroNova, Inc. (ALOT) reported financial results for the fiscal 2019 first quarter ended April 28, 2018.

First Quarter 2019 Operating Results

Total revenue was $31.5M, a 29 percent increase over the previous year.

Gross profit was $12.1M, or 38.5 percent of revenue, as contrast with 38.0 percent of revenue for the previous year. The improvement is traceable to revenue growth and product mix.

Operating expenses were $10.8M contrast with $8.6M in the previous year period, due primarily to costs associated with increased selling and marketing initiatives and costs associated with the integration of the Honeywell printer line into the West Warwick, Rhode Island manufacturing facility.

Operating income was $1.3M, a 4.0 percent margin, contrast with $707,000, a 2.9 percent margin in the previous year.

Net income was $814,000, or $0.12 per diluted share, contrast with net income of $512,000, or $0.07 per diluted share, in the previous year.

A change in accounting estimates for product costs and operating expenses caused actual amounts billed and received to differ from initial estimates under the Honeywell contract which resulted in a raise of $1.0M in operating income ($0.8M net of tax or $0.12 per diluted share) in the first quarter. In addition, in the first quarter a change in accounting estimates for revenue subject to consumer rebates under the Honeywell contract increased operating income by $0.4M ($0.3M net of tax or $0.05 per diluted share).

Bookings increased 29 percent to $33.3M from $25.8M in the first quarter of fiscal 2018.

Backlog at April 28, 2018 was $23.9M, up 31 percent from $18.2M at the end of the fiscal 2018 first quarter.

First Quarter 2019 Operating Section Results

The Product Identification section generated revenue of $20.0M, a 7 percent increase contrast with $18.6M in the previous year on higher sales of hardware, supplies and services. Section operating income was $1.7M, or 8.3 percent of revenue, versus $2.5M, or 13.4 percent of revenue, in the previous year.

The Test & Measurement section generated revenue of $11.5M, a 98 percent increase from $5.8M in the previous year, primarily reflecting the impact of the Honeywell asset purchase and licensing contract. Section operating income was $2.3M, or 19.6 percent of revenue, versus $71,000, or 1.2 percent of revenue, in the previous year.

Hardware revenue was $12.0M, a 64 percent increase from $7.3M in the previous year. Supplies revenue was $16.7M, a 13 percent increase from $14.8M in the same period of fiscal 2018. Service/other revenue was $2.8M, a 21 percent increase over the previous year.

ALOT stock price showed weak performance of -0.56% in last seven days, switched down -5.82% in last thirty days and it rose 30.40% in last one year.

It has 6.79 million of outstanding shares and its shares float measured at 5.84.

 

Paul Suggs

Paul Suggs provides the U.S. as well as global markets news for Streetobserver.com. He writes about the global market, politics, technology and healthcare news. He also covers latest activity, events and trends, economic reports and financial indicators relating to global market and US market. Paul now lives in Dallas Texas where he works from home as a freelance writer for many financial websites and publications.

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