WEST WARWICK, RI, Jan 31, 2012 (MARKETWIRE via
COMTEX) --Astro-Med, Inc. (NASDAQ: ALOT) announced today the divestiture
of its label manufacturing operations in Asheboro, North Carolina. The
sale was made to the original owners of Label Line, Ltd.
Commenting on the sale, Everett V. Pizzuti, CEO, stated, "The primary
business of that facility, producing labels for distributors, was not
fully compatible with the business of our QuickLabel Systems Product
Group, which produces labels primarily for sale to end user customers
who own QuickLabel color printers. Although the divestiture will result
in approximately $3 million less in annual revenues in the new fiscal
year, the effect on Astro-Med's profitability and cash flow will be
positive with annual savings of approximately $400,000.
"As Astro-Med has expanded its label manufacturing capacity over the
past three years in Montreal, Canada; Frankfurt, Germany; and West
Warwick, R.I., the sale of the Asheboro plant will have little effect on
the company's capabilities to supply labels to our growing base of
color label printer customers."
About Astro-Med, Inc.
Astro-Med, Inc. is a leading manufacturer of specialty high tech
printing systems, electronic medical instrumentation, and test and
measurement data acquisition systems. Astro-Med, Inc. products are 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 FY2011
Annual Report and its annual and quarterly filings with the Securities
and Exchange Commission.
Contact:
Everett V. Pizzuti
CEO
Joseph P. O'Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com
SOURCE: Astro-Med, Inc.
www.astro-medinc.com