Category: Uncategorized

Astro-Med, Inc. (NASDAQ: ALOT) announces the appointment of three vice presidents. According to the Company, each vice presidency is a newly-created position within the company, and is intended to provide additional decision-making authority to each department. Under the Company’s Three-Year Strategic Business Plan, additional leaders were to be identified from within the company and empowered to support growth goals.

The new appointments are Thomas W. Carll, appointed as Vice President and Worldwide Sales Director of Astro-Med Test & Measurement and Astro-Med Ruggedized Products, Eileen D. Millar, appointed as Vice President and Manager of Operations of Grass Technologies, and Eric E. Pizzuti, appointed as Vice President and Worldwide Sales Director of QuickLabel Systems.

Albert W. Ondis, Chairman and CEO, commented on the new appointments, saying “Each of the individuals recently appointed as Vice President of Astro-Med, Inc. have long tenures with the Company and established track records of leadership within our organization. It is gratifying to see the Astro-Med, Inc. Management team so fully-equipped to take our corporation into the future.”

Thomas C. Carll Appointed Vice President and Worldwide Sales Director of Astro-Med Test & Measurement and Ruggedized Products

Thomas W. Carll joined Astro-Med, Inc. in 1989. Previously, Mr. Carll was a Product Manager and National Sales Manager of the Astro-Med Test & Measurement product group, and later also of Astro-Med ruggedized products, a product family which has generated over USD $140,000,000 in contracts since 2004 for ToughWriter ruggedized airborne printers and other Ruggedized Products used in commercial and military applications since 2004. Mr. Carll holds a BSEE from the University of Rhode Island and an MBA from Bryant University. He currently resides in Warwick, RI with his wife and child.

Eileen D. Millar Appointed Vice President and Manager of Operations of Grass Technologies

Eileen D. Millar joined Grass Technologies in 1981. She originally oversaw Production Control and was subsequently appointed Purchasing Manager and later Manager of Operations for the Grass Technologies factory. Ms. Millar was instrumental in establishing the first ERP system used to manage Grass Technologies integrated logistics. She was also influential in bringing about the Company’s achievement of ISO 13485:2003 compliance, MDD 93/42/EDD Annex VI compliance, and FDA GMP compliance certifications for Grass Technologies products manufactured in the Rockland, MA factory. Ms. Millar holds a BA in French and Education from Queens College of New York. She currently lives in Weymouth, MA.

Eric E. Pizzuti Appointed Vice President and Worldwide Sales Director of QuickLabel Systems

Eric E. Pizzuti joined Astro-Med, Inc. in 1996 and became Product Manager of the QuickLabel Systems digital label printer systems and labels and inks product line in 1998. He was appointed Worldwide Sales Director in 2006. During his tenure, QuickLabel Systems annual sales revenue grew from USD $10.8 million to USD $33 million, and the brand launched several key products, including label printers which utilize color thermal transfer, electrophotographic, and inkjet label printing technologies. Mr. Pizzuti holds an MBA from the Suffolk University Sawyer Business School, a J.D. from the Suffolk University Law School, and a BA in Economics from Boston College. He currently resides in Barrington, RI with his wife and two children.

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 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 FY2009 annual report and its 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/

 

Astro-Med, Inc. (NASDAQ: ALOT) reports Net Income of $1,728,000, equal to $0.23 per diluted share on sales of $16,281,000 for the Fourth Quarter ended January 31, 2010. During the comparable period of the previous year, the Company reported net income of $263,000, equal to $0.04 per diluted share on sales of $15,631,000.

New Orders; Net Sales

During the Fourth Quarter, Astro-Med, Inc. received $17,538,000 in orders, up 15 percent over the comparable quarter of the prior year. Sales revenues were also higher by 4.2% over the previous year’s Fourth Quarter. The Company reports that the growth was driven by its consumables product lines, which posted a Year-Over-Year quarterly increase of 17.8%.

Gross profits were up approximately 4% and produced a margin on sales of 41.8%. Operating income was higher by 83% from last year and generated a margin of approximately 4%, excluding a one time gain related to successful litigation.

During the twelve month period of the Fiscal Year, Net Income was $2,766,000, equal to $0.38 per diluted share, on sales of $64,031,000. For the comparable period last year, the Company reported Net Income of $2,964,000, equal to $0.40 per diluted share, on sales of $71,783,000. If non-recurring items were excluded from the Fourth Quarter, Net Income for the year would have totaled $1,415,000, equal to $0.19 per diluted share.

Strong Fundamentals

Management reports that it strengthened Astro-Med, Inc.’s financial position during Fiscal Year 2010 by increasing its cash and investment position to $23,760,000; improving its current ratio to 6.12:1, raising the efficiency of the turnover in the Company’s accounts receivable and inventory assets; enhancing the book value of the Company’s equity position to $7.52 per share at Year End, and successfully litigating the integrity of the Company’s employment contracts against a direct competitor.

Impact of Foreign Currency, Taxes, and Litigation

Favorable foreign currency exchange rates added approximately $395,000, or 2.4%, to Fourth Quarter sales. Net Income in the Fourth Quarter includes $335,000, equal to $0.04 per diluted share, for a tax benefit pertaining to previously uncertain tax provisions. In addition to the income tax benefit, Net Income in the Fourth Quarter includes a gain of $112,000, equal to $0.02 per diluted share, related to the acquisition we made on December 15, 2009 and $904,000 net of tax from the successful outcome of litigation, equal to $0.12 per diluted share.

Unfavorable foreign currency exchange rates reduced Fiscal 2010 annual sales by approximately $744,000, or 1.2%.

Cost Savings; Expansion; New Products

Commenting on the results, Albert W. Ondis, Chief Executive Officer, stated: “I am pleased with the good progress we have made in implementing the first leg of the Company’s Three Year (FY2011-FY 2013) Strategic Plan, notwithstanding the current unsettled global economic environment. I count among our accomplishments the following activities:

• We lowered the Company’s breakeven level by approximately $2,000,000 through a series of austerity programs designed both for cost savings as well as process improvements.
• We completed the acquisition of a label manufacturer in North Carolina which will allow for an expanded presence for QuickLabel Systems products and services throughout the southeast.
• We completed the expansion of our manufacturing facility in Rhode Island, which will facilitate the continued growth of the QuickLabel Systems consumables product lines.
• We introduced new products within every Astro-Med, Inc. Product Group, including the new Second-Generation Astro-Med ToughWriter 5 Airborne Ruggedized printer, the new Grass Technologies S12X Cortical Stimulator and ESAx Electrode Switching Array, and the updated QuickLabel Systems Pronto! barcode label printer family.

We have achieved these initiatives without compromising Astro-Med, Inc.’s Sales and Marketing organization or our Research and Development organization, which allowed us to preserve these key drivers of our growth for the year to come. I am looking forward to the exciting products and strategies which will unfold as Fiscal 2011 gets underway.”

Financial Guidance

The Company expects that for FY 2011, revenue will be in the range of $71 – $73 million and earnings per diluted share will be in the range of $0.35 to $0.40.

Directors Declare Increase in Quarterly Dividend

In a regular meeting of the Astro-Med, Inc. Board of Directors, on March 15, 2010, the Directors voted to increase the quarterly dividend by $.01 per share to $0.07. The dividend is payable on April 2, 2010 to shareholders of record on March 19, 2010. The Board’s decision came after it approved Management’s progress toward the Company’s Three Year Strategic Business plan and the Budget for Fiscal 2011.

Commenting on the results, Albert W. Ondis, Chairman and CEO, said, “It pleases me greatly to be able to return more of our earnings to our shareholders. It is gratifying that our cash and investments position and our earnings allow us to pay shareholders increased dividends.”

Conference Call on Wednesday, March 17, 2010 at 11:00 am Eastern Time

The Fourth Quarter conference call will be held on Wednesday, March 17, 2010 at 11:00 AM EDT. It will be broadcast in real time on the Internet through the Investing section of our website. We invite you to log on and listen in real time on March 17th, or to participate in the conference call by dialing 877-941-9205 with password 4219982. Following the live broadcast, an audio webcast of the call will be available for ten days at www.Astro-MedInc.com. A conference call replay will also be available for ten days by dialing 800-406-7325 with password 4219982.

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 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.

                                 ASTRO-MED, INC.
                    Consolidated Statements of Operations
                    In Thousands Except for Per Share Data
                                  (Unaudited)
                              Three-Months Ended      Twelve-Months Ended
                              January     January     January     January
                             31, 2010    31, 2009    31, 2010    31, 2009
                            ----------  ----------  ----------  ----------
Net Sales                   $   16,281  $   15,631  $   64,031  $   71,783
Gross Profit                     6,805       6,553  $   26,628  $   31,068
                                  41.8%       41.9%       41.6%       43.3%
Operating Expenses:
   Selling                       3,895       4,014      15,342      16,942
   General & Administration      1,080       1,020       4,503       4,615
   Research & Development        1,254       1,205       4,820       4,885
                            ----------  ----------  ----------  ----------
                                 6,229       6,239      24,665      26,442
Gain on Litigation               1,391           -       1,391
Operating Income                 1,967         314       3,354       4,626
                                  12.1%        2.0%        5.2%        6.4%
Other Income (Expense), Net        134         (49)        328         (49)
                            ----------  ----------  ----------  ----------
Income Before Taxes              2,101         265       3,682       4,577
Income Tax Provision               373           2         916       1,613
                            ----------  ----------  ----------  ----------
Net Income                  $    1,728  $      263  $    2,766  $    2,964
                            ----------  ----------  ----------  ----------
Net Income Per Share -
 Basic                      $     0.24  $     0.04  $     0.39  $     0.42
                            ----------  ----------  ----------  ----------
Net Income Per Share -
 Diluted                    $     0.23  $     0.04  $     0.38  $     0.40
                            ----------  ----------  ----------  ----------
Weighted Average Number of
 Common Shares  - Basic          7,153       7,010       7,135       6,988
Weighted Average Number of
 Common Shares  - Diluted        7,446       7,313       7,375       7,438
Dividends Declared Per
 Common Share               $     0.06  $     0.06  $     0.24  $     0.24
                         Selected Balance Sheet Data
                          In Thousands (Unaudited)
                                         As of                 As of
                                      January 31,           January 31,
                                         2010                  2009
                                  -------------------- --------------------
Cash & Marketable Securities      $             23,760 $            22,105*
Current Assets                    $             49,939 $             48,023
Total Assets                      $             64,676 $             62,155
Current Liabilities               $              8,158 $              7,904
Shareholders' Equity              $             53,819 $             51,471
*Includes LT investments

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 FY2009 annual report and its 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

 

Astro-Med, Inc. (NASDAQ: ALOT), a manufacturer of high tech specialty printers, test and measurement systems, and electronic medical instrumentation, will announce its financial results for the Fourth Quarter and the Fiscal Year ended January 31, 2010 on Tuesday, March 16, 2010 at 4:00 pm Eastern Time (3 pm Central Time). Astro-Med, Inc. will hold its quarterly and year-end conference call to discuss results on Wednesday, March 17, 2010 at 11:00 am Eastern Time (10 am Central Time).

This call is being webcast by Thomson Financial and can be accessed at Astro-Med, Inc’s Web site at www.Astro-MedInc.com. You can participate in the conference call by dialing 877-941-9205 with password 4219982. Following the live broadcast, an audio webcast of the call will be available for ten days at www.Astro-MedInc.com. A replay of the conference call will also be available for seven days by dialing 800-406-7325 with password 4219982.

The Astro-Med, Inc. webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson’s individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.

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 FY2009 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/

 

Astro-Med, Inc., (NASDAQ: ALOT) announced today that it has collected $1,495,000 in damages from a lawsuit it filed against a former employee and a competitor business. At issue was the non-competition agreement which the employee had signed as a condition of employment with Grass Technologies, an Astro-Med, Inc. subsidiary.

A jury for the United States District Court for Rhode Island found that the competitor business, Nihon-Kohden America, encouraged the former employee to violate his employment agreement by soliciting business on its behalf while the employee was still bound by the non-competition provisions of his employment agreement with Astro-Med, Inc.

Commenting on the victory, Albert W. Ondis, Chairman and CEO of Astro-Med, Inc., said: “Astro-Med honors all its contracts with customers, suppliers, and employees to a ‘T’. As a business, our word is our bond. We expect to be judged on the strength of our adherence to our obligations, and we expect our employees to honor their contracts to our company with equal dedication. This victory sends a clear message to our competitors and to the community at large about how seriously we view contractual obligations.”

“I wish to personally express our admiration and gratitude to our lawyers, Craig Scott of Scott & Bush, Ltd. and Stacey P. Nakasian of Duffy & Sweeney, Ltd., who ably and aggressively defended Astro-Med, Inc’s rights as an employer,” Ondis continued.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments. 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 FY2009 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Albert W. Ondis
CEO
Joseph P. O'Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com

SOURCE: Astro-Med, Inc.

http://www.Astro-MedInc.com

 

Astro-Med, Inc. (NASDAQ: ALOT), announced today that it has been awarded a contract for additional cockpit printers and Ethernet switches used on the C-17 Globemaster III military transport aircraft. The contract was placed by Boeing Defense, Space & Security, Long Beach, CA, and will generate approximately $1.4 million in revenues for Astro-Med during this fiscal year.

Astro-Med has been furnishing ToughWriter 3 printers and ToughSwitch Ethernet switches for the C-17 since 2002. This new contract is for ToughWriter 4 series printers, which offer advanced features over previous generation ToughWriter 3 printers sold to Boeing. The new ToughWriter 4 ruggedized cockpit printers will be installed in existing C-17s as well as in new production aircraft.

“This contract is a follow on to a $3 million dollar contract awarded in 2007 for equipment for the C-17 aircraft. We are pleased to continue our long-standing relationship with Boeing and look forward to providing them with the most advanced airborne, military equipment available,” stated Tom Carll, Sales Manager of the Astro-Med T&M Product Group, in commenting on the award.

Carll continued, saying, “We are proud that Astro-Med continues to be regarded as the leading provider of ruggedized products for the avionics industry, and excited about several other proposals we currently have in negotiation.”

According to the Company, the ruggedized airborne printers will be used in the cockpit of the C-17 for printing maps, approach plates, aircraft weight and balance information and ground communications. The ruggedized Ethernet switches are critical for communication between on-board computers and other equipment in the aircraft.

About Boeing Defense, Space & Security A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world’s largest space and defense businesses specializing in innovative and capabilities-driven customer solutions. Headquartered in Berkeley, Missouri near St. Louis, Boeing Defense, Space & Security is a $34 billion business with 68,000 employees worldwide.

About Astro-Med, Inc. Astro-Med, Inc. is a leading manufacturer of specialty high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments. 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 http://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 FY2009 Annual Report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Everett V. Pizzuti
President, COO
Astro-Med, Inc.
(401) 828-4000

SOURCE: Astro-Med, Inc.

 

Astro-Med, Inc. (NASDAQ: ALOT) today announced that its subsidiary Grass Technologies has donated a portable EEG system (electroencephalograph) to the Port-au-Prince Epilepsy Clinic in Haiti. The donation is part of an international effort led by Dr. Lionel Carmant, head of the epilepsy clinic and epilepsy research program at Saint Justine Hospital in Montreal, and coordinated by the American Epilepsy Society (AES), to re-open the clinic following the earthquake which devastated Port-au-Prince on January 12, 2010.

“In order to treat people who experienced a traumatic head injury as a result of the earthquake and the severe aftershocks which followed, neurologists require the ability to scan and analyze brain function. The international team of doctors on the ground in Port-au-Prince will be able to use our Comet EEG system to scan and treat patients who are in comas or coma-like states, and even patients who are ambulatory but in need of scans to fully assess their responsiveness,” said Marc Paliotta, Grass Technologies Product Manager.

The Grass(R) Technologies Comet Portable EEG system donation will include a laptop computer, TWin(R) acquisition/review/analysis software, including the special Neurotrac III Neuromonitoring software module, the Comet amplifier, a photic stimulator, and a supply of Grass Gold Cup Electrodes, EC2 electrode cream, and other preparation items. According to the company, the Comet system is routinely used at hospitals around the world to provide more than 5 routine diagnostic EEGs per day, and has the capacity to provide even more if necessary. The approximate total value of the Grass Technologies donation is $20,000 USD.

“Our hearts go out to the people of Haiti. We are pleased to be uniquely able to help through our Grass diagnostic EEG instrumentation product line,” said Everett V. Pizzuti, Astro-Med, Inc. COO.

Pizzuti continued, saying, “There are few times when competitors in an industry come together for a common purpose, but surely the response to the humanitarian crisis in Haiti is such a time. I encourage all makers of EEG systems and neuromonitoring software and devices to make a contribution to benefit the Port-au-Prince Epilepsy Clinic (la Clinique d’epilepsie de Port-au-Prince), care of the American Epilepsy Society, at https://www.aesnet.org/go/haiti. More donations are sorely needed.”

About the American Epilepsy Society (AES)

The American Epilepsy Society (AES), based in West Hartford, CT, is among the oldest neurological professional organizations in the nation, with roots dating to 1898. The AES annual meeting is the world’s preeminent professional meeting on epilepsy and attracts some 4,000 participants from around the globe. The Society promotes research and education for professionals (epileptologists) dedicated to the prevention, treatment and cure of epilepsy. Membership includes epilepsy clinicians, basic science and clinical investigators, and other health-care professionals interested in seizure disorders. Contributions in support of the special campaign to assist the Port-au-Prince Epilepsy Clinic (la Clinique d’epilepsie de Port-au-Prince) can be made by mailing donations to: American Epilepsy Society, 342 North Main Street, West Hartford, CT 06117-2507 or by visiting the AES website at www.aesnet.org.

About Grass Technologies

Grass Technologies, an Astro-Med, Inc. subsidiary, is a world leader in neurophysiological monitoring instruments and software designed to detect, amplify, and display the electrical activity of the brain. Primary applications of Grass products include Sleep Monitoring and Analysis, Long-Term Monitoring (LTM), EEG Monitoring, and Neurophysiological Research Studies. Customers include sleep centers and clinics, hospitals, universities, and pharmaceutical companies. More information is available at www.GrassTechnologies.com.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments. 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. More information is available at 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 FY2009 Annual Report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Everett V. Pizzuti
COO
Tel: 800-343-4039
www.Astro-MedInc.com

SOURCE: Astro-Med, Inc.

www.Astro-MedInc.com

 

Astro-Med, Inc. (NASDAQ: ALOT) today announced that it will present at the Needham & Company, LLC 12th Annual Growth Conference in New York City on Thursday, January 14, 2010 at 8:00 am. Albert W. Ondis, Chairman and CEO, will give a presentation detailing the company’s strategy for growth and profitability.

A live audio web cast of the presentation will be available on the Astro-Med, Inc. corporate web site at www.Astro-MedInc.com. Following the presentation, Ondis and Joseph P. O’Connell, Senior Vice President and CFO, will engage in a series of one-on-one sessions with institutional investors throughout the day.

This is the 8th year Astro-Med, Inc. has been invited to present to the Needham & Company Growth Conference. Organized annually, the Conference has become one of the largest growth conferences on Wall Street. 1500 institutional investors and venture capital professionals are expected to attend from January 12 – 14, 2010 to hear presentations from 300 growth companies.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments. 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 FY2009 Annual Report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Albert W. Ondis
CEO
Joseph P. O’Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com

SOURCE: Astro-Med, Inc.

http://www.Astro-MedInc.com

 

First Acquisition Under 3 Year Strategic Business Plan

Astro-Med, Inc. (NASDAQ: ALOT) announced today that it acquired Label Line Ltd., a manufacturer of labels and tags located in Asheboro, NC, on December 15, 2009. Label Line will become part of Astro-Med’s QuickLabel Systems brand, the leading manufacturer of digital color label printers and related labels, tags, and ink supplies.

The facilities and employees of the former Label Line will remain in North Carolina, and enable QuickLabel Systems to serve customers nationwide with high-end offset and flexographic printed labels, hot stamp labels, string tag labels, apparel labels and tags, barcode labels, and specialty custom-printed materials, according to the company.

Commenting on the acquisition, Albert W. Ondis, Astro-Med, Inc. CEO said: “Acquiring this established label converter and custom label printhouse will allow QuickLabel Systems to serve customers across the United States with increased production capacity and broader label product offerings. Customers who own our label printers will benefit from these expanded capabilities, and we will also be able to add new customers who are in the market for custom label printing services, especially for the very high-end custom labels demanded by food and beverage and health and beauty brands for their primary display label packaging.

“The acquisition of Label Line is in accordance with the Three Year Strategic Business Plan we adopted in August which calls for us to make a few modest acquisitions that, along with internal growth, will drive our revenue toward the $100 million mark. We expect this acquisition to allow us to realize approximately $5 million in sales that will be accretive to revenues as well as earnings,” Ondis continued.

Bill Lineberry, former President of Label Line, will join QuickLabel Systems as a consultant. “For years I’ve admired QuickLabel’s digital label printers and the specialty color thermal transfer ribbons and labels they have tailor-made for their printers. I’m delighted to be able to contribute the talents of our press operators, production artists, salespeople, and the capabilities of the 21 presses we have here in North Carolina to the growing QuickLabel Systems business,” said Lineberry.

About QuickLabel Systems

QuickLabel Systems, an Astro-Med, Inc. Product Group, introduced the first in-house digital color label printer in 1994, and designs, manufactures, and sells a broad range of digital label printers, related blank labels, inks, and thermal transfer ribbon supplies, and custom-printed labels and tags. More information about QuickLabel Systems custom-printed labels is available at: www.QuickLabel.com or by telephoning 877-757-7978 (+401-828-4000 outside of the United States and Canada).

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 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 FY2009 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Albert W. Ondis
CEO
Joseph P. O’Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com

SOURCE: QuickLabel Systems

http://www.Astro-MedInc.com

 

Astro-Med, Inc. (NASDAQ: ALOT) announced today that it has introduced the ToughWriter 5, the smallest, lightest ARINC744A-1 printer available in the industry. The ToughWriter 5 was displayed at the National Business Aviation Association’s 62nd Annual Meeting & Convention (NBAA2009) in Orlando, FL, October 20-22, 2009, and was extremely well received.

The ToughWriter 5 weighs just 8.5 pounds with a full roll of paper installed and is several inches shallower than other flight deck printers, making it ideal for business jet and other commercial customers that are sensitive to size and weight.

Despite being smaller and lighter than other airborne printers, the ToughWriter 5 will be the fastest, highest resolution printer in the world and is the first airborne printer with WiFi capability.

Tom Carll, National Sales Manager for Astro-Med’s Test & Measurement Product Group, comments on the introduction, “We are excited with the opportunity that the ToughWriter 5 offers. Its predecessor, the ToughWriter 4 printer, has been very well received in the business/regional jet, commercial and military markets. We expect the ToughWriter 5 to expand our share of the business/regional jet market and other markets where size and weight are important. In addition, for the first time, WiFi capability will allow sending print jobs to the ToughWriter 5 from a computer located anywhere in the aircraft.”

Carll continued, “Although the economic downturn has impacted the business jet and commercial aircraft industries, we feel the long-term potential in these markets is significant and are poised to capture market share as the industry rebounds. There are several important aircraft programs that we are pursuing and the ToughWriter 5 is critical to this future business.”

The NBAA Annual Meeting & Convention is billed as the premier event and annual meeting place for the business aviation community. It brings together a global community of business leaders, government officials, manufacturers, flight department personnel, single-pilot operations and all manner of people involved in nearly every aspect of business aviation. Aircraft, avionics, engines, aircraft interiors, navigation equipment, composite material and other products used on business jets will be exhibited at the convention.

Astro-Med is currently furnishing airborne printers for the Airbus A380 and A400M, the Boeing C-17, B-787, B-777, B-747, B-767, and the Lockheed C-130 and the Bombardier Global Vision flight deck.

Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific and medical applications.

Availability for the ToughWriter 5 will be mid-2010. Visit Astro-Med, Inc. at http://www.astro-med.com/tmindex.html for further information.

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 FY2009 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Everett V. Pizzuti
President
Astro-Med, Inc.
Tel: 800-343-4039
www.astro-medinc.com

SOURCE: Astro-Med, Inc.

http://www.astro-medinc.com

 

Astro-Med, Inc. (NASDAQ: ALOT) reports net income of $683,000, equal to 9 cents per diluted share, on sales of $16,658,000 for the Third Quarter ended October 31, 2009. For the corresponding period of the prior year, Astro-Med reported net income of $649,000, equal to 9 cents per diluted share, on sales of $17,681,000.

For the nine-month period ended October 31, 2009, Astro-Med reported net income of $1,037,000, equal to 14 cents per diluted share on sales of $47,751,000, compared to net income of $2,701,000, equal to 36 cents per diluted share, on sales of $56,152,000 in the comparable nine-month period of the prior fiscal year.

Commenting on the results, Albert W. Ondis, Chief Executive Officer, said: “We are pleased with the measured progress the Company has made. Our revenue and our earnings improved from the First Quarter to the Second Quarter, and now from the Second Quarter to the Third Quarter. We foresee a continuation of this trend during the Fourth Quarter. We are successfully pursuing the goals of the Three Year Strategic Business Plan, which our Board approved on August 17, 2009. The Plan highlights growth through internal development as well as by acquisition.”

Astro-Med Gross Profit margins held firm at 42.4% during the Third Quarter, and operating expenses remained flat compared with the Second Quarter. Operating income rose 8.5% during the Third Quarter to $961,000, and the operating margin was 5.8% compared with 5.4% in the Second Quarter. Net income was $683,000 in the Third Quarter, a 16.8% improvement over the Second Quarter.

Ondis continued, “The Company’s balance sheet remains strong. Astro-Med’s cash and investment position reached approximately $24,000,000 at Quarter’s end. We improved the efficiency of our working capital investments by lowering the accounts receivable turnover to 49 days sales outstanding, and reduced our inventories by 6.1% from the prior quarter.

“In accordance with our Strategic Plan, we are continuing to invest heavily in Research & Development. We will soon announce some exciting new hardware products for the Astro-Med Test & Measurement data acquisition product line, as well as our Ruggedized Products line of airborne printers. These new products will be released in early 2010.”

Astro-Med, Inc. Directors Declare Regular Cash Dividend

On November 16, 2009, the Directors of Astro-Med, Inc. declared the regular quarterly cash dividend of $0.06 per share, payable on January 4, 2010 to shareholders of record as of December 11, 2009.

Third Quarter Conference Call to be held Wednesday, November 18, 2009

The Astro-Med, Inc. Third Quarter conference call will be held on Wednesday, November 18, 2009, at 11:00 AM EST. It will be broadcast in real time on the Internet and will be available through the Investing Section of our website. We invite you to log on and listen in real time on November 18th, or to participate in the conference call by dialing 1-888-549-7750 and referencing ID number 4169655. Following the live broadcast, a webcast of the recorded call will be available for ten days at www.Astro-MedInc.com.

                                Astro-Med, Inc.
                     Consolidated Statements of Operations
                     In Thousands Except for Per Share Data
                                  (Unaudited)
                     Three-Months Ended            Nine-Months Ended
                  October 31,   November 1,     October 31,   November 1,
                     2009          2008            2009          2008
                  ------------  ------------    ------------  ------------
Net Sales         $     16,658  $     17,681    $     47,751  $     56,152
Gross Profit             7,059         7,647          19,822        24,516
                          42.4%         43.3%           41.5%         43.7%
Operating Expenses:
  Marketing &
   Selling               3,840         4,164          11,447        12,928
  Research &
   Development           1,163         1,254           3,565         3,680
  General &
   Administrative        1,095         1,140           3,423         3,595
                  ------------  ------------    ------------  ------------
                         6,098         6,558          18,435        20,203
Operating Income           961         1,089           1,387         4,313
                           5.8%          6.2%            2.9%          7.7%
Other Income
 (Expense), Net             75          (237)            194             -
                  ------------  ------------    ------------  ------------
Income Before Taxes      1,036           852           1,581         4,313
Income Tax
 Provision                 353           203             544         1,612
                  ------------  ------------    ------------  ------------
Net Income        $        683  $        649    $      1,037  $      2,701
                  ============  ============    ============  ============
Net Income Per
 Share - Basic    $       0.10  $       0.09    $       0.15  $       0.39
                  ============  ============    ============  ============
Net Income Per
 Share - Diluted  $       0.09  $       0.09    $       0.14  $       0.36
                  ============  ============    ============  ============
Weighted Average
 Number of Common
 Shares - Basic          7,151         7,005           7,129         6,979
Weighted Average
 Number of Common
 Shares - Diluted        7,396         7,471           7,349         7,478
Dividends Declared
 Per Common Share $       0.06  $       0.06    $       0.18  $       0.18
                         Selected Balance Sheet Data
                                In Thousands
                                 (Unaudited)
                                                As of            As of
                                             October 31,      January 31,
                                                2009             2009
                                           ---------------  ---------------
Cash & Marketable Securities(1)            $        23,944  $        22,104
Current Assets                             $        48,632  $        48,023
Total Assets                               $        62,565  $        62,155
Current Liabilities                        $         7,073  $         7,904
Shareholders' Equity                       $        52,465  $        51,471

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments. 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 FY2009 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

Contact:
Albert W. Ondis
CEO
Joseph P. O’Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com

SOURCE: Astro-Med, Inc.

http://www.Astro-MedInc.com