In This Article:
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Revenue: $40.5 million, up 14.1% year-over-year.
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Test and Measurement Segment Revenue Growth: 37%.
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Non-GAAP Gross Profit Margin: 35.6%, consistent with Q2 FY24.
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Operating Expenses (Non-GAAP): $12.2 million, up from $10.4 million in the prior year.
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Non-GAAP Operating Income: $2.2 million, down from $2.3 million a year ago.
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Adjusted EBITDA: $3.9 million, up 5.3% year-over-year.
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Non-GAAP Diluted EPS: Impacted by untaxed and higher interest expense.
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Bookings: $35.8 million, up from $30.1 million in the prior year.
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Backlog: $29.9 million, down from Q1 FY25.
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Cash and Cash Equivalents: $4.8 million, up $800,000 from Q1 FY25.
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Cash from Operations: $7.1 million for the first six months of FY25, up from $4.7 million in the prior year.
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Free Cash Flow: $6.2 million for the first six months of FY25, up from $4.2 million in the prior year.
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MTEX Revenue: Less than $0.8 million with an operating loss of $1.4 million.
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MTEX Non-GAAP Gross Profit Margin: 6.8%.
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Supplies Revenue: 55.1% of total revenue.
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Hardware Revenue: 30.5% of total revenue.
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Service and Other Revenue: 14.4% of total revenue.
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Geographical Revenue (United States): 65.4% of total revenue.
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Geographical Revenue (Europe): 25.2% of total revenue.
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Geographical Revenue (Rest of World): 9.4% of total revenue.
Release Date: September 16, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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AstroNova Inc (NASDAQ:ALOT) delivered solid top-line growth in the second quarter, driven primarily by the test and measurement segment, which posted 37% revenue growth.
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The aerospace product line is performing well, driven by robust demand for printers, supplies, and maintenance services, fueled by the post-COVID recovery of the global aviation market.
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AstroNova Inc (NASDAQ:ALOT) has been awarded several new military contracts, including a follow-on agreement for a large US Air Force program.
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The acquisition of MTEX complements the Product Identification segment with advanced printing technologies tailored to key market segments, including packaging, labeling, textiles, and industrial applications.
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AstroNova Inc (NASDAQ:ALOT) reaffirmed its full-year fiscal 2025 expectations for mid-single-digit percent organic revenue growth.
Negative Points
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Integration projects for MTEX have been consuming more resources than anticipated, leading to an operating loss of $1.4 million in the quarter.
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MTEX generated revenue of less than $0.8 million in the quarter, reflecting a slower start than expected.
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AstroNova Inc (NASDAQ:ALOT) lowered its full-year adjusted EBITDA margin guidance to a range of 9% to 10%, reflecting the slower startup of MTEX's acquisition.
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Non-GAAP gross profit margins were impacted by lower margins in MTEX, which posted a non-GAAP gross profit margin of only 6.8%.
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Operating expenses increased due to higher costs in recruiting, healthcare, and professional fees, as well as operating costs at MTEX.