Category: Uncategorized

Astro-Med, Inc. (NASDAQ: ALOT), a leading manufacturer of specialty high-tech printing systems and data acquisition products, will announce its second-quarter fiscal 2015 financial results pre-market on Wednesday, August 20, 2014 and will host a conference call starting at 9:00 a.m. ET.

The call can be accessed at Astro-Med, Inc.’s web site, www.Astro-MedInc.com. You can participate in the conference call by dialing 888-516-2438 (U.S. and Canada) or 719-457-2668 (International) with passcode 570873.

Following the live broadcast, an audio webcast of the call will be available at www.Astro-MedInc.com. A telephone replay of the conference call will be available for seven days by dialing 888-203-1112 (U.S. and Canada) or 719-457-0820 (International) with passcode 8273326.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems and data acquisition systems. Products include color label printers and consumables sold under the QuickLabel Systems brand as well as rugged printers for aerospace and defense applications and data acquisition products sold under the Astro-Med brand. Astro-Med, Inc. is a member of the Russell Microcap^® Index. Additional information is available by visiting www.Astro-MedInc.com

Source: Astro-Med, Inc.

Astro-Med, Inc.
Joseph P. O’Connell, 800-343-4039
Senior Vice President, Chief Financial Officer

 

Astro-Med, Inc. (NASDAQ: ALOT), a world leader in ruggedized printers for the commercial and military aviation markets, today announced the release of the revolutionary ToughWriter 640, a narrow-width flight deck printer for narrow-body aircraft and smaller cockpits. The ToughWriter 640 is built on Astro-Med’s next-generation hybrid processor technology, which dramatically enhances printer performance and reduces power consumption.

“The evolution of next-generation, narrow-body aircraft is driving strong global demand for our ruggedized printers, and we are extremely proud to be able to meet that demand with advanced new products such as the ToughWriter 640,” said Astro-Med Vice President and General Manager, Thomas W. Carll. “We designed the ToughWriter 640 to be the most cost-effective and lightest 40-column printer in the sky.”

The ToughWriter 640 meets or surpasses all ARINC 740-1 40-column printer requirements, and comes equipped with built-in Ethernet connectivity. It features innovative graphic options for maps and alternative font sets and combines easy paper loading with industry-leading print speed and quality.

Combining ease of use, functionality and efficiency, the ToughWriter 640 is an easy drop-in replacement for less advanced 40-column printers. The ToughWriter 640 consumes less than 55 watts, prints text in standard or “side-writing” modes, and is capable of standard or high-speed ARINC 429 communications.

About Astro-Med, Inc.

Astro-Med has been designing and manufacturing ruggedized airborne printers for decades. These ruggedized printers and related ruggedized Ethernet switches, which are part of our Test & Measurement Group, are used in the most demanding military and commercial environments, including airborne, shipboard, and ground vehicle applications. Astro-Med is currently furnishing airborne printers for the Airbus A380 and A400M, the Boeing C-17, B-787, B-777, B-747, and the Lockheed C-130. Astro-Med is certified to AS9100, the quality management system specifically designed for manufacturers of aerospace industry products. Astro-Med is proud to manufacture in Rhode Island, USA. Additional information about Astro-Med’s ruggedized printer products is available at http://www.astro-med.com/ruggedized.

Source: Astro-Med, Inc.

Astro-Med, Inc.
Thomas W. Carll, 877-867-9783
Vice President
tcarll@astromed.com

 

QuickLabel Systems, a business unit of Astro-Med, Inc. (NASDAQ: ALOT), and NiceLabel announce the joint release of a native NiceLabel^® printer driver for the Kiaro!^® inkjet color label printer. The printer driver will allow Kiaro! printer users to enjoy the benefits of NiceLabel’s world-class labeling software technology. Printing labels with the NiceLabel Kiaro! printer driver is different than using NiceLabel through a standard Windows driver. It enables Kiaro! users to print labels more efficiently, taking advantage of NiceLabel’s print job optimization and variable information printing capabilities.

The NiceLabel printer driver for the Kiaro! is available free of charge with the purchase of any Kiaro! label printer, and can be downloaded at any time from the QuickLabel Systems website and also from the NiceLabel website.

In a related announcement, QuickLabel says it is now offering a service to create custom user interfaces for NiceLabel labeling software. Custom interfaces allow QuickLabel owners to quickly deploy a complete solution for in-house color label printing that is tailored specifically to their needs. For example, a Kiaro! owner concerned with maintaining label security might create a user interface that restricts the ability of a printer operator to edit the printable label file, thus minimizing human error and reducing training requirements. In another example, a Kiaro! owner might customize the look and feel of their software by using their own logo and brand imagery to adorn a basic interface.

“Today, companies require the flexibility to print color-rich labels, as quickly and cost-effectively as possible, enabling them to add value to their products and increase sales,” said Kevin Brisson, Product Manager of QuickLabel Systems. “NiceLabel’s capabilities and native QuickLabel drivers enable companies to leverage powerful design and automation tools to achieve a turn-key, color label printing system.”

“We’re excited to deepen our relationship with QuickLabel Systems through the release of a native Kiaro! printer driver for NiceLabel,” said Victor Hollo, Regional Account Manager, NiceLabel Americas. “Combining the high-speed color printer driver with NiceLabel’s next generation labeling technology ensures that Kiaro! users have unlimited design, integration, and production options for accomplishing labeling requirements for product packaging, GHS, and other color labeling initiatives.”

How to Purchase NiceLabel^® Software and the Kiaro! label printer

QuickLabel Systems sells NiceLabel software packages on its web store at http://www.quicklabel.com/catalog/index.php?cPath=2_18. The Company invites anyone interested in purchasing the Kiaro! inkjet label printer to schedule an in-person demonstration of the Kiaro! label printer at the time and location of their choosing. To schedule an in-person demonstration, please go to: http://www.quicklabel.com/contact/schedule-demonstration/index.html.

About QuickLabel Systems and Astro-Med, Inc.

QuickLabel Systems is the leading manufacturer of digital color label printers, inks, labels, and thermal transfer ribbons used by manufacturers who prefer to print their own labels in-house and on-demand. QuickLabel Systems is a business unit of Astro-Med, Inc., a Rhode Island-based manufacturer of high tech specialty printing systems and data acquisition systems for test and measurement. Astro-Med, Inc. (NASDAQ: ALOT) is a member of the Russell Microcap^® Index. Find out more about QuickLabel and the Kiaro! by visiting www.QuickLabel.com/kiaro. Keep up with QuickLabel Systems on Facebook at www.Facebook.com/QuickLabel and on Twitter at www.Twitter.com/QuickLabel.

About NiceLabel

NiceLabel is the world’s leading developer of barcode and RFID labeling software and global provider of enterprise labeling solutions. NiceLabel’s platform is the most trusted label technology available and supports best practices implementation, maximum uptime, and responsive support for global labeling deployment. NiceLabel is the most trusted mission-critical label technology available, shipped by the world’s largest printer manufacturers, proven in volume and used by the majority of Fortune 500 companies. To learn more about NiceLabel solutions, visit www.nicelabel.com or call +1 262-784-2456.

Source: Astro-Med, Inc.

Astro-Med, Inc.
Mr. Eric Pizzuti, 401-828-4000
V.P. and General Manager
eepizzuti@astromed.com
www.QuickLabel.com
or
NiceLabel Americas
Mr. Victor Hollo, 262-784-2456
Regional Manager
Victor.Hollo@Nicewareintl.com
www.NiceLabel.com

 

Astro-Med, Inc. (NASDAQ: ALOT), a global leader in the manufacture, marketing and distribution of specialized printing systems and data acquisition systems, today announced the appointment of Stephen J. Russo as Director of Operational Excellence.

“Stephen’s proven track record in rapidly implementing global lean transformations makes him an ideal choice to lead our lean initiatives that will help insure that we achieve our performance excellence goals,” said Astro-Med Chief Executive Officer Gregory A. Woods. “Stephen understands that creating and sustaining a lean culture requires a balanced focus on quality, delivery, productivity and growth. He has successfully implemented lean processes at some of the best operating companies in the world such as Avery Dennison, Thermo Fisher Scientific, Textron and Danaher, all which share elements in common with our core businesses. Over nearly 20 years, Stephen has played a transformational role in lean management through the development and implementation of kaizen events and other training tools that have produced dramatic improvements in operational and transactional processes.”

“Astro-Med is a dynamic organization with a 45-year history of successful product development and technology innovation, and it is with particular excitement that I begin this new opportunity,” Russo said. “Under Greg’s leadership, it is clear that the company is committed to a lean operating model and over the past year the company has made substantive process improvements in both the manufacturing and transactional areas. I look forward to accelerating our lean transformation and supporting our growth objectives by engaging employees across the company to deliver tactical solutions that connect organizational strategy and operational results.”

Russo previously served for three years as Corporate Director, Lean Enterprise for Thermo Fisher Scientific, where he was responsible for the lean transformation of six global divisions. From 2009 to 2011 he was Director, Global Process Transformation, Retail Information Services Division at Avery Dennison Corporation, where he oversaw the transformation of 60 independently run sites to globally common processes. Before that he was Corporate Lean Sensei at Textron Corporation from 2005 to 2009. In that role he was responsible for transforming many Textron business units from traditional batch and queue to Lean Manufacturing. From 2002 to 2005 he served as Corporate Director for Danaher Business Systems (DBS), where he focused on leadership training as well as development and implementation of lean conversion techniques. Russo also has worked as Lean Manufacturing Manager at Rexam Beverage Can Americas and in operational excellence roles at The Wiremold Company and United States Surgical Corp. He served as a Nuclear Weapons Specialist in the US Air Force and received a bachelor’s degree in productivity management from Central Connecticut University and a master’s degree in operations management from Rensselaer Polytechnic Institute.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems and data acquisition systems. Products include color label printers and consumables sold under the QuickLabel Systems brand as well as rugged printers for aerospace and defense applications and data acquisition products sold under the Astro-Med brand. Astro-Med, Inc. is a member of the Russell Microcap® Index. Additional information is available by visiting www.astro-medinc.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 our current expectations concerning future events and results. These statements may include the use 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 appointment of Stephen J. Russo as Director of Operational Excellence, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2014 and subsequent filings Astro-Med makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

Source: Astro-Med, Inc.

Astro-Med, Inc.
Joseph O’Connell, 401-828-4000
Senior Vice President & CFO
joconnell@astromed.com

 

Astro-Med, Inc. (NASDAQ: ALOT) announced today that it has been selected by Thales Avionics (EN Paris: HO.PA) to supply flight deck printers for the Airbus A330/A340 long-range aircraft.

The agreement covers flight deck printers for the Airbus A330 long-range aircraft, which is currently in production, and for retrofits of the Airbus A340 long-range aircraft. After the necessary qualification tests and certifications are completed this year, Astro-Med will be supplying its latest ToughWriter 5 model printer to Thales for these programs. Manufacturing will be done at Astro-Med’s aerospace products production facilities in West Warwick, Rhode Island.

“We are extremely pleased to have the trust and confidence of Thales Avionics, a global leader in supplying on-board avionic suites and systems to major aircraft manufacturers,” said Gregory A. Woods, the Company’s President and Chief Executive Officer. “The response to the ToughWriter has been enthusiastic, and we look forward to providing Thales Avionics with a high-quality aerospace printer.”

“Astro-Med will complete the manufacture, test, and delivery of these ToughWriter 5 flight deck printers with the same commitment to quality and value that have made Astro-Med the global leader in airborne printers,” said Thomas W. Carll, Vice President of Astro-Med Test & Measurement Product Group.

About Thales Avionics

Thales is a global leader in onboard electronics for aircraft, supplying avionic suites and systems to major aircraft manufacturers. We provide our customers with the full range of equipment, subsystems and systems for flight control, navigation, communication and surveillance for aircraft including helicopters. Thales Avionics is a part of Thales Group, headquartered in Paris, France. Additional information about Thales Avionics products is available at: https://www.thalesgroup.com/en/worldwide/aerospace/what-we-do.

About Astro-Med, Inc.

Astro-Med, the leader in airborne printers, has been designing and manufacturing ruggedized flight deck printers for nearly three decades. These ruggedized printers and related ruggedized Ethernet switches, which are part of our Test & Measurement Group, are used in the most demanding military and commercial environments, including airborne, shipboard, and ground vehicle applications. Astro-Med is currently furnishing airborne printers for a wide range of aircraft including the Airbus A380 and A400M, the Boeing C-17, B-737, B-787, B-777, B-747-8, the Embraer ERJ, and the Lockheed C-130. Astro-Med is certified to AS9100, the quality management system specifically designed for manufacturers of aerospace industry products. Astro-Med is proud to manufacture in Rhode Island. Additional information about Astro-Med’s ruggedized printer products is available at http://www.astro-med.com/ruggedized_products.

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 our current expectations concerning future events and results. These statements may include the use 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 contract with Thales Avionics, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2014 and subsequent filings Astro-Med makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

Source: Astro-Med, Inc.

Astro-Med, Inc.
Thomas W. Carll, 877-867-9783
Vice President
www.Astro-Med.com

 

Astro-Med, Inc. (NASDAQ: ALOT), a leading manufacturer of specialty high-tech printing systems and data acquisition products, today reported net sales of $20.8 million for the three months ended May 3, 2014, an increase of 34.2% from the same period a year earlier.

“Strong demand in both our QuickLabel Systems (QLS) and Test & Measurement (T&M) segments drove excellent results for Astro-Med in the first quarter of fiscal 2015,” said Gregory A. Woods, the Company’s President and Chief Executive Officer. “QLS product sales increased 27% in the first quarter to $14.4 million. Our QLS products continue to benefit from a targeted marketing program that is accelerating new customer growth.

“T&M segment sales grew 55% to $6.4 million,” added Woods. “A portion of our T&M growth can be attributed to our acquisition of the Miltope ruggedized aerospace printer business in January, but we also saw increasing demand for high-speed data acquisition systems – our TMX and TMX-18 products, in particular.

“We posted first-quarter orders of $23.5 million, a 42% increase over last year,” Woods said. “Both the QuickLabel Systems and Test & Measurement segments reported double-digit increases. We exited the quarter with a record backlog of $16.2 million.

“We continue to focus on expanding our global sales channel to complement our direct presence in the United States, Canada and Western Europe,” said Woods. “In the first quarter we added salespeople in both Europe and North America. One of our sales channel expansion goals for fiscal 2015 is to establish a direct presence in Asia, where we see additional opportunity for growth. We expect to have an office up and running by the end of this fiscal year to serve customers in China and Southeast Asia.”

Gross profit for the first quarter of fiscal 2015 was $8.6 million, or 41.6% of net sales, compared with $5.1 million, or 33.0% of net sales, for the same period of fiscal 2014, reflecting higher revenue, improved product mix and the ongoing success of Astro-Med’s lean manufacturing initiatives.

Net income on a GAAP (Generally Accepted Accounting Principles) basis for the three months ended May 3, 2014 was $1.1 million, or $0.14 per diluted share. This compares with a net loss of $449,000, or $0.06 per share, for the same period a year earlier. The prior year EPS included a charge of $389,000, or $0.05 per diluted share, related to the reserve established to address a non-compliant component in a limited number of ToughWriter printers.

At May 3, 2014, Astro-Med had cash and cash equivalents of $28.6 million, compared with $27.1 million at January 31, 2014.

Board of Directors Declare Regular Quarterly Dividend

On May 22, 2014, the Directors of Astro-Med, Inc. declared a regular quarterly cash dividend of $0.07 per share. The dividend, which represents a cash dividend of $0.28 per share on an annualized basis, is payable July 1, 2014 to shareholders of record on June 13, 2014.

Q1 Fiscal 2015 Conference Call

The first quarter fiscal 2015 financial results conference call will be held today, Thursday, May 22, 2014 at 4:00 p.m. ET. It will be broadcast in real time on the Internet through the “Investors” section of the Company’s website at www.Astro-MedInc.com. You also may participate in the conference call by 877-941-8609 (U.S. and Canada) or 480-629-9692 (International) with passcode 4680464. Following the live broadcast, an audio webcast of the call will be available on the Company’s website. A conference call replay also will be available for seven days by dialing 800-406-7325 (U.S. and Canada) or 303-590-3030 (International) with passcode 4680464.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems and data acquisition systems. Products include color label printers and consumables sold under the QuickLabel Systems brand as well as rugged printers for aerospace and defense applications and data acquisition products sold under the Astro-Med brand. Astro-Med, Inc. is a member of the Russell Microcap® Index. Additional information is available by visiting www.Astro-MedInc.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 our current expectations concerning future events and results. These statements may include the use 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 global expansion into Asia and growth through acquisitions, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2014 and subsequent filings Astro-Med makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

Use of Non-GAAP Financial Measure

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release also contains the Non-GAAP financial measure, Non-GAAP net income. The Company believes that the inclusion of this non-GAAP financial measure in this press release helps investors to gain a meaningful understanding of changes in the Company’s core operating results, and also can help investors who wish to make comparisons between Astro-Med and other companies on both a GAAP and a non-GAAP basis. Astro-Med’s management uses this non-GAAP measure, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. This measure also is used by the Company’s management to assist with their financial and operating decision making.

The non-GAAP financial measure included in this press release is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP. In addition, the non-GAAP financial measure included in this press release may be different from, and therefore may not be comparable to, similar measures used by other companies. Reconciliations of the non-GAAP financial measure used in this press release to the most directly comparable GAAP financial measure are set forth in the text of, and the accompanying tables to, this press release.

ASTRO-MED, INC.
Consolidated Statements of Income
In Thousands Except for Per Share Data
(Unaudited)
		May 3, 2014				May 4, 2013
Net Sales		$20,774				$15,485
Cost of Sales		12,139				9,708
Product Replacement Related Costs		–				672
Gross Profit		8,635				5,105
		41.6%				33.0%
Operating Expenses:
Selling		4,374				3,572
Research & Development		1,371				1,113
General & Administration		1,191				1,142
		6,936				5,827
Operating Income (Loss)		1,699				(722)
		8.2%				(4.7%)
Other Income (Expense), Net		(121)				(36)
Income (Loss) from Continuing Operations Before Taxes		1,578				(758)
Income Tax Provision (Benefit) for Continuing Operations		449				(319)
Income (Loss) from Continuing Operations		1,129				(439)
Income (Loss) from Discontinued Operations, net of taxes		–				(10)
Net Income (Loss)		$1,129				$(449)
Earnings Per Share – Basic:
Net Income (Loss) per share from Continuing Operations		$0.15				$(0.06)
Net Income (Loss) per share from Discontinued Operations		–				–
Net Income (Loss) per share – Basic		$0.15				$(0.06)
Earnings Per Share – Diluted:
Net Income (Loss) per share from Continuing Operations		$0.14				$(0.06)
Net Income (Loss) from Discontinued Operations		–				–
Net Income (Loss) per share – Diluted		$0.14				$(0.06)
Weighted Average Number of Common Shares – Basic		7,601				7,401
Weighted Average Number of Common Shares – Diluted		7,848				7,404
Dividends Declared Per Common Share		$0.07				$0.07

Selected Balance Sheet Data
In Thousands
(Unaudited)
			As of May 3, 2014		As of January 31, 2014
Cash & Marketable Securities			$28,595		$27,107
Current Assets			$65,596		$65,034
Total Assets			$78,279		$77,964
Current Liabilities			$8,920		$9,892
Shareholders’ Equity			$68,088		$66,614

Reconciliation of Non-GAAP Adjustment
In Thousands
(Unaudited)
			May 3, 2014		May 4, 2013
GAAP based results as reported:
Net Income (Loss)			$1,129		$(449)
Non-GAAP adjustment:
Product Replacement Costs			–		389
Non-GAAP Net Income (Loss)			$1,129		$(60)
GAAP based results as reported:
EPS – diluted			$0.14		$(0.06)
Non-GAAP adjustment:
Product Replacement Costs			–		0.05
Non-GAAP EPS – diluted			$0.14		$(0.01)

Source: Astro-Med, Inc.

Source: Astro-Med, Inc.

Astro-Med, Inc.
Joseph P. O’Connell, 800-343-4039
Senior Vice President, Chief Financial Officer

 

Astro-Med, Inc. (NASDAQ: ALOT), a leading manufacturer of specialty high-tech printing systems and data acquisition products, will announce its first-quarter fiscal 2015 financial results at 11:00 a.m. ET on Thursday, May 22, 2014 and host a conference call that day at 4:00 p.m. ET.

The call can be accessed at Astro-Med, Inc.’s web site, www.Astro-MedInc.com. You can participate in the conference call by dialing 877-941-8609 (U.S. and Canada) or 480-629-9692 (International) with passcode 4680464.

Following the live broadcast, an audio webcast of the call will be available at www.Astro-MedInc.com. A telephone replay of the conference call will be available for seven days by dialing 800-406-7325 (U.S. and Canada) or 303-590-3030 (International) with passcode 4680464.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems and data acquisition systems. Products include color label printers and consumables sold under the QuickLabel Systems brand as well as rugged printers for aerospace and defense applications and data acquisition products sold under the Astro-Med brand. Astro-Med, Inc. is a member of the Russell Microcap^® Index. Additional information is available by visiting www.Astro-MedInc.com

Source: Astro-Med, Inc.

Contact:
Astro-Med, Inc.
Joseph P. O’Connell, 800-343-4039
Senior Vice President, Chief Financial Officer

 

Find release here.

Astro-Med, Inc. (NASDAQ: ALOT), a leading manufacturer of specialty high-tech printing systems and data acquisition products, today reported financial results for the fiscal 2014 fourth quarter and full year ended January 31, 2014.

“Astro-Med delivered strong results in fiscal 2014, increasing revenues by 12% and generating solid earnings while continuing to strategically invest in operational excellence and our other long-term growth objectives,” said President and Chief Executive Officer Gregory A. Woods. “For the quarter, we grew revenues 9.6% on the strength of our color label printers and ruggedized products. Coming off of our busiest tradeshow period of the year in Q3, we saw good demand in the fourth quarter for newly unveiled QLS products, particularly the Kiaro! series of inkjet color label printers. Orders for the quarter were up 39.8% from the fourth quarter last year, reflecting strong demand across most of the business.

“One of the key strategic themes for Astro-Med in fiscal 2015 is to continue to drive efficiencies through our business as we grow the top line,” added Woods. “Squarely at the center of this effort is our focus on continuous improvement and Lean manufacturing. Through the success of this initiative thus far, we have the capacity to integrate future acquisitions into our existing production facility without the need to significantly add to fixed costs. Our recent acquisition of the VT Miltope’s aerospace printer business and the planned integration of its production into our West Warwick facility is a perfect example of how we are able to leverage the additional capacity we have created. We expect to complete the integration of Miltope’s production in the third quarter of fiscal 2015.

“Another important building block as we strive for improved efficiency is the planned completion this fiscal year of our new information technology system. Investing in a new IT system is a key step toward several broader strategic objectives, including ensuring outstanding customer service; enhancing operational efficiencies by connecting our product development, engineering, manufacturing and sales teams with real-time information; and supporting our growth initiatives through a worldwide infrastructure support system.

“As we begin fiscal 2015, we look forward to another year of top- and bottom-line improvement. The Test & Measurement group opens fiscal 2015 with a healthy backlog, thanks in part to our VT Miltope acquisition. We also continue to see robust demand for our QLS products. Our capital structure is anchored by a strong balance sheet with cash and marketable securities of $27.1 million as of January 31, 2014,” Woods concluded.

GAAP net income was $1.9 million, or $0.24 per diluted share, on net sales of $17.7 million for the fourth quarter of fiscal 2014. For the corresponding period of the prior fiscal year, the Company reported GAAP net income of $7.6 million, or $1.02 per diluted share, on net sales of $16.2 million. Fourth quarter net income for fiscal 2014 includes a tax benefit of $0.4 million, or $0.05 per diluted share, related to a FIN 48 adjustment as well as a year-end true up of the tax provision. Net income for fiscal 2013 included a gain of $6.6 million, or $0.85 per diluted share, related to the sale of the Company’s Grass Technologies business segment.

On a non-GAAP basis, net income from continuing operations was $0.6 million, or $0.08 per diluted share, for the fourth quarter of fiscal 2014 compared with $0.4 million, or $0.06 per diluted share, for the comparable quarter of fiscal 2013. For the fourth quarter fiscal 2014 period, non-GAAP net income from continuing operations excludes a $0.3 million charge related to the retirement of the Company’s former CEO, a $0.2 million legal settlement related to a product recall and $0.1 million for Miltope acquisition professional fees.

For fiscal 2014, GAAP net income was $3.2 million, or $0.42 per diluted share, on net sales of $68.6 million. This compares with net income of $10.8 million, or $1.44 per diluted share, on net sales of $61.2 million for the comparable period of fiscal 2013. For fiscal 2014, non-GAAP net income from continuing operations was $1.9 million, or $0.25 per diluted share, compared with $2.0 million, or $0.27 per diluted share, for the same period of fiscal 2013.

Q4 and FY 2014 Financial Results Conference Call

The fourth quarter and fiscal year 2014 financial results conference call will be held on Wednesday, March 19, 2014 at 11:00 a.m. ET. It will be broadcast in real time on the Internet through the “Investors” section of the Company’s website at www.Astro-MedInc.com. You also may participate in the conference call by dialing 877-941-0844 with passcode 4670772. Following the live broadcast, an audio webcast of the call will be available on the Company’s website. A conference call replay also will be available for seven days by dialing 800-406-7325 with passcode 4670772.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems and data acquisition systems. Products include color label printers and consumables sold under the QuickLabel Systems brand as well as rugged printers for aerospace and defense applications and data acquisition products sold under the Astro-Med brand. Astro-Med, Inc. is a member of the Russell Microcap® Index. Additional information is available by visiting www.Astro-MedInc.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 our current expectations concerning future events and results. These statements may include the use 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 anticipated completion in the third quarter of fiscal 2015 of the integration of Miltope’s production; and the anticipated completion this fiscal year of the Company’s new information technology system involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2013 and subsequent filings Astro-Med makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

Use of Non-GAAP Financial Measure

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release also contains the Non-GAAP financial measure, Non-GAAP net income from continuing operations. The Company believes that the inclusion of this non-GAAP financial measure in this press release helps investors to gain a meaningful understanding of changes in the Company’s core operating results, and also can help investors who wish to make comparisons between Astro-Med and other companies on both a GAAP and a non-GAAP basis. Astro-Med’s management uses this non-GAAP measure, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. This measure also is used by the Company’s management to assist with their financial and operating decision making.

The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this press release may be different from, and therefore may not be comparable to, similar measures used by other companies. Reconciliations of the non-GAAP financial measures used in this press release to the most directly comparable GAAP financial measures are set forth in the text of, and the accompanying tables to, this press release.

ASTRO-MED, INC.
Consolidated Statements of Operations
In Thousands Except for Per Share Data
(Unaudited)
		Three-Months Ended				Twelve-Months Ended
		January 31, 2014		January 31, 2013		January 31, 2014		January 31, 2013
Net Sales		$17,734		$16,186		$68,592		$61,224
Gross Profit		7,593		6,187		$26,983		$23,728
		42.8%		38.2%		39.3%		38.8%
Operating Expenses:
Selling		4,094		3,170		14,774		12,412
Research & Development		1,455		1,050		5,072		3,816
General & Administration		1,859		1,235		5,604		4,574
		7,408		5,455		25,450		20,802
Operating Income		185		732		1,533		2,926
		1.0%		4.5%		2.2%		4.8%
Other Income (Expense), Net		(58)		15		(121)		(41)
Income from Continuing Operations Before Taxes		127		747		1,412		2,885
Income Tax Provision (Benefit) for Continuing Operations		(272)		305		175		847
Income from Continuing Operations		399		442		1,237		2,038
Income from Discontinued Operations, net of taxes		1,458		7,194		1,975		8,729
Net Income		$1,857		$7,636		$3,212		$10,767
Earnings Per Share – Basic:
Net Income per share from Continuing Operations		$0.05		$0.06		$0.17		$0.28
Net Income per share from Discontinued Operations		$0.20		$0.98		$0.26		$1.18
Net Income per share – Basic		$0.25		$1.04		$0.43		$1.46
Earnings Per Share – Diluted:
Net Income per share from Continuing Operations		$0.05		$0.06		$0.16		$0.27
Net Income from Discontinued Operations		$0.19		$0.96		$0.26		$1.17
Net Income per share – Diluted		$0.24		$1.02		$0.42		$1.44
Weighted Average Number of Common Shares – Basic		7,532		7,345		7,470		7,396
Weighted Average Number of Common Shares – Diluted		7,816		7,485		7,697		7,483
Dividends Declared Per Common Share		$0.07		$0.14		$0.28		$0.35

Selected Balance Sheet Data
In Thousands
(Unaudited)
		As of January 31, 2014		As of January 31, 2013
Cash & Marketable Securities		$27,107		$39,508
Current Assets		$66,089		$70,122
Total Assets		$78,705		$79,557
Current Liabilities		$10,713		$14,219
Shareholders’ Equity		$66,613		$63,837

Reconciliation of Non-GAAP Adjustments
Net Income from Continuing Operations
In Thousands Except for Per Share Data
(Unaudited)
		Three-Months Ended				Twelve-Months Ended
		January 31, 2014		January 31, 2013		January 31, 2014		January 31, 2013
GAAP based results:
Net Income		$399		$442		$1,237		$2,038
Non-GAAP adjustments:
Product Replacement Costs		(231)		–		205		–
Retirement Package for Executive		359		–		359		–
Acquisition Related Expenses		59		–		59		–
Non-GAAP Net Income		$586		$442		$1,860		$2,038
GAAP based results:
EPS-Diluted		$0.05		$0.06		$0.16		$0.27
Non-GAAP adjustments:
Product Replacement Costs		(0.03)		–		0.03		–
Retirement Package for Executive		0.05		–		0.05		–
Acquisition Related Expenses		0.01		–		0.01		–
Non-GAAP EPS-Diluted		$0.08		$0.06		$0.25		$0.27

Source: Astro-Med, Inc.

Astro-Med, Inc.
Joseph P. O’Connell, 800-343-4039
Senior Vice President, Chief Financial Officer

 

Astro-Med, Inc. (NASDAQ: ALOT) announced today that the Company has rescheduled the date for its 2014 Annual Meeting of Shareholders.

The Annual Shareholders’ Meeting will be held on Thursday, May 22, 2014 at 10:00 a.m. at the offices of the Company, 600 East Greenwich Avenue, West Warwick, Rhode Island. The Company had originally scheduled the 2014 Annual Meeting to occur on Tuesday, May 20, 2014 as reported in the Company’s 2013 proxy statement. Shareholder proposals that are to be considered at the 2014 Annual Meeting but not requested to be included in the 2014 proxy statement must be submitted no later than March 23, 2014.

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech printing systems and data acquisition products. Products include color label printers and consumables sold under the QuickLabel Systems brand as well as rugged printers for aerospace and defense applications and data acquisition recorders sold under the Astro-Med brand. Astro-Med, Inc. is a member of the Russell Microcap® Index. Additional information is available by visiting www.Astro-MedInc.com.

Contact:
Gregory A. Woods
CEO
Joseph P. O’Connell
CFO
Tel: 800-343-4039
www.Astro-MedInc.com

Source: Astro-Med, Inc.