WEST WARWICK, RI, Feb 18, 2009 (MARKET WIRE via COMTEX) -- Astro-Med, Inc. (NASDAQ: ALOT) today announced preliminary revenue
and earnings per share results for the Fourth Quarter and for the
Fiscal Year ended January 31, 2009.
For Fiscal Year 2009, Astro-Med, Inc. expects to report sales of
approximately $71,783,000, a nominal change from the $72,371,000 in
sales reported for Fiscal 2008. Earnings per diluted share for Fiscal
2009 are expected to be $0.38 to $0.40. The Company earned $0.57 in
earnings per diluted share in Fiscal Year 2008.
For the Fourth Quarter ended January 31, 2009, the Company expects to
report sales of $15,600,000, compared to sales of $18,131,000
reported for the Fourth Quarter of the previous year. The Company
anticipates earnings per diluted share of $0.02 to $0.04 for the
Fiscal 2009 Fourth Quarter. In the Fourth Quarter of the prior year,
Astro-Med reported earnings per diluted share of $0.18.
The Company will report cash, cash equivalents, and long term
investments of approximately $22,000,000 at January 31, 2009,
representing an increase of 25% from the end balances of the prior
year.
Commenting on the announcement, Albert W. Ondis, Chairman and CEO,
stated, "The global recession adversely affected Astro-Med's
operations during the second half of Fiscal 2009. The effects of this
economic slowdown were particularly unfavorable during the Fourth
Quarter.
As mentioned during our Third Quarter Conference Call, we continue to
see softness in the printing and labeling markets where fewer consumer
and industrial product shipments have reduced demand for labels. Our
customers have tempered the pace of their orders for new printers and
for consumable printing supplies."
Ondis continued, "We have also experienced delays in orders of
ruggedized products from the avionics market, as aircraft
manufacturers wrestle with employee strikes and supply chain delays
which have necessitated adjustments to their production schedules for
new airplanes.
However, we did realize continued growth in our Grass Technologies
markets during the Fourth Quarter, although the rate of growth was
somewhat tempered."
In light of the uncertain business climate, the Company has taken
steps to reduce operating costs. "We will continue to monitor closely
the level of customer demand going forward, and will make further
adjustments to our program as required," said Ondis.
Ondis stated, "We have maintained our field sales organization in
both our domestic and international markets and we remain quite
confident in our strategic plan. We fully expect to meet the
challenges of these unstable economic times and return Astro-Med to
profitable growth in the years ahead."
Conference Call Scheduled
Astro-Med will issue its financial results for the Fourth Quarter and
Fiscal Year 2009 on Tuesday, March 17, 2009 after the market closes.
Management will conduct an investor's conference call to discuss the
Fourth Quarter and Annual results on Wednesday, March 18th at 11:00 AM
ET.
About Astro-Med, Inc.
Astro-Med, Inc. is a leading manufacturer of specialty high tech
printing systems, electronic medical instrumentation, and test and
measurement instruments. Astro-Med, Inc. products sold under the brand
names Astro-Med(R), Grass(R) Technologies and QuickLabel(R) Systems
and are employed around the world in a wide range of aerospace,
medical, military, industrial, and packaging applications.
Astro-Med, Inc. is a member of the Russell Microcap(R) Index.
Additional information is available by visiting www.astro-medinc.com.
Safe Harbor Statement
This news release contains forward-looking statements, and actual
results may vary from those expressed or implied herein. Factors that
could affect these results include those mentioned in Astro-Med's
FY2008 annual report and its annual and quarterly filings with the
Securities and Exchange Commission.
Contact:
Albert W. Ondis
CEO
Joseph P. O'Connell
CFO
Astro-Med, Inc.
(401) 828-4000
www.Astro-Medinc.com
SOURCE: Astro-Med, Inc.
http://www.Astro-Medinc.com