Senior Financial Executive Brings Strong Background in M&A, Strategy
and Operational Excellence
WEST WARWICK, R.I.--(BUSINESS WIRE)--
AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization
technologies, today announced that its Board of Directors has elected
David S. Smith as Vice President, Treasurer and Chief Financial Officer
(CFO), effective January 22, 2018. Joseph P. O’Connell, the Company’s
Interim CFO since August 2017, will return to his position as Vice
President, Business Development and assist Mr. Smith through the filing
of the Company's annual report.
“David brings a valuable blend of financial acumen and operational skill
to AstroNova,” said Greg Woods, the Company’s President and Chief
Executive Officer. “He is a proven leader whose financial experience
with diverse, global businesses, strong operations background and M&A
expertise are a great fit with our long-term growth strategy.”
During his more than 25 years of financial leadership experience at
public manufacturing companies, Mr. Smith has served as CFO for
multinational companies Dover Corporation and Crane Co. From 2005 to
2008 he was Senior Vice President and CFO of semiconductor company
Standard Microsystems Corporation. Most recently, Mr. Smith was a
Managing Partner for S.C. Advisors LLC, his financial management
consultancy based in Darien, CT. He received his Master's Degree in
Business Administration from Wharton School, University of Pennsylvania
and his Bachelor of Arts degree from Columbia College, Columbia
University.
Mr. Smith’s responsibilities at AstroNova will include oversight of
financial and information systems functions, including accounting,
budgeting, strategic planning, risk management, tax, treasury and
investor relations.
“Under Greg’s leadership, AstroNova has effectively combined organic
growth and strategic acquisitions to expand its reach to new customers
and new markets worldwide,” Mr. Smith said. “I am delighted to join the
strong customer-centric AstroNova team and welcome the opportunity to
contribute my financial and operations experience to help drive
continued success across all levels of the organization.”
About AstroNova
AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization
technologies, designs, manufactures, distributes and services a broad
range of products that acquire, store, analyze and present data in
multiple formats. The Product Identification segment offers a variety of
hardware and software products and associated supplies that allow
customers to mark, track and enhance the appearance of their products.
The segment’s two business units are QuickLabel®, the industry leader in
tabletop digital color label printing and TrojanLabel™, a leader in the
light-production color label press and specialty printer markets. The
Test and Measurement segment includes the Test & Measurement business
unit, which offers a suite of products and services that acquire, record
and analyze electronic signal data from local and networked sensors. The
segment also includes the Aerospace business unit, which makes printers,
networking hardware and related accessories. These products are used in
the aircraft flight deck to print flight plans, navigation information
and performance data and in the aircraft cabin to print maintenance
data, receipts and passenger manifests. AstroNova is a member of the
Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO).
Additional information is available by visiting www.astronovainc.com.
Forward-Looking Statements
Information included in this news release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are not statements of
historical fact, but rather reflect the Company’s current expectations
concerning future events and results. AstroNova generally uses the words
“believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,”
“continues,” “may,” “will,” and similar expressions to identify
forward-looking statements. Such forward-looking statements, including
those concerning the Company’s expectations, involve risks,
uncertainties and other factors, some of which are beyond the Company’s
control, which may cause actual results, performance or achievements to
be materially different from those expressed or implied by such
forward-looking statements. Factors which could cause actual results to
differ materially from those anticipated include, but are not limited to
(a) general economic, financial and business conditions; (b) declining
demand in the test and measurement markets, especially defense and
aerospace; (c) competition in the specialty printer industry; (d)
ability to develop market acceptance of the Company’s products and
effective design of customer required features; (e) competition in the
data acquisition industry; (f) the impact of changes in foreign currency
exchange rates on the results of operations; (g) the ability to
successfully integrate acquisitions and realize benefits from
divestitures; (h) the business abilities and judgment of personnel and
changes in business strategy; (i) the efficacy of research and
development investments to develop new products; (j) the launching of
significant new products which could result in unanticipated expenses;
(k) bankruptcy or other financial problems at major suppliers or
customers that could cause disruptions in the Company’s supply chain or
difficulty in collecting amounts owed by such customers; and (l) other
risks included in the Company’s Annual Report on Form 10-K for the
fiscal year ended January 31, 2017 and subsequent filings AstroNova
makes with the Securities and Exchange Commission. AstroNova assumes no
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise, except as
required by law. The reader is cautioned not to unduly rely on such
forward-looking statements when evaluating the information presented in
this news release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180117005732/en/
Source: AstroNova, Inc.