Astronics Corp. (ATRO) Crushes 2Q Estimates, Stock Soars

Shares of Astronics Corp. (ATRO), a manufacturer of power generation and lighting systems for the aerospace industry, are soaring nearly 40% higher today after announcing second quarter financial results that took Wall Street by surprise. Sales for the quarter reached a record $47.9 million, a 15.8% increase year-over-year and well above analysts’ consensus estimate of $42.1 million. Net income was $5.1 million, or 60 cents per share, compared to $4.5 million or 53 cents per share for the same period last year. Analysts had projected earnings of 31 cents per share.