Astro-Med, Inc. Divests North Carolina Label Operations

01/31/2012

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

IR Contact

AstroNova, Inc.
Investor Relations Department
600 East Greenwich Avenue
West Warwick, RI 02893
Scott Solomon
Senior Vice President Sharon Merrill
Phone: (617) 542-5300
Email: ALOT@investorrelations.com

Email Alerts

Email Address *

 
Enter the code shown above.

Interactive Analyst Center Disclaimer

The financial data and other material provided to users in the pages of the website is for information purposes only. Users should not rely on information on this website for any purpose other than for obtaining general knowledge of AstroNova. Material may be changed or updated without notice.

AstroNova, Inc.

Ok