AstroNova reports Q1 EPS 5c vs. 15c last year

Reports Q1 revenue $37.71M vs. $32.96M last year. Greg Woods, president and CEO of AstroNova (ALOT), stated, “We are executing on our plan to drive growth and improve profitability. Early results were demonstrated in the first quarter as we delivered double-digit growth in the quarter from both segments, driven in part by the contribution of the acquisition, increasing commercial aircraft build rates, demand for digital color label and package printers, as well as shipments related to the recently announced defense contract renewal. We implemented approximately $1.9 million of our previously announced $3 million annualized cost reduction plan. In the second quarter, we expect to realize those reductions and to substantially complete the full cost reduction plan.”