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EAST AURORA, N.Y. - Astronics Corporation (NASDAQ:ATRO), whose stock has surged over 104% in the past six months according to InvestingPro data, announced Tuesday the acquisition of Envoy Aerospace, an FAA Organization Designation Authorization (ODA) services provider, for approximately $8 million. The $1.13 billion market cap company appears fairly valued based on InvestingPro’s Fair Value analysis.
The acquisition enhances Astronics’ capabilities in aircraft connectivity, in-seat power, and cabin modifications by streamlining the process of obtaining FAA Supplemental Type Certificates (STCs) and Parts Manufacturer Approvals (PMAs). Nine Envoy Aerospace employees will join the Astronics team as part of the transaction. With annual revenue of $816.29 million and a healthy current ratio of 2.74, Astronics maintains strong operational flexibility for strategic acquisitions.
Envoy Aerospace specializes in helping clients obtain U.S. FAA STCs for major design changes, providing design approvals for new product PMAs, and assisting with foreign type approval of modification programs.
"Envoy Aerospace’s extensive experience and trusted reputation as an ODA make them a perfect fit for Astronics," said Mike Kuehn, President of Astronics Connectivity Systems and Certifications. "This will enable dedicated access to ODA services for our collective Astronics and Envoy customers."
Adrian Honer, Partner at Envoy Aerospace, noted that Envoy has worked with Astronics for more than two decades, making the partnership "a natural next step."
The acquisition positions Astronics to address what it describes as pent-up demand for aircraft modifications for connectivity, cabin reconfigurations, and lease returns at a time when ODA services availability is limited.
Astronics stated that ongoing and future Envoy programs will remain a focus as it integrates the team and capabilities into its broader operations.
Astronics Corporation serves aerospace, defense, and other mission-critical industries with power, connectivity, lighting, structures, interiors, and test technologies.
The information in this article is based on a press release statement from Astronics Corporation. While the company isn’t currently profitable, InvestingPro analysts expect profitability to return this year, with net income growth projected. For deeper insights into Astronics’ financial health and growth prospects, including 12 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Astronics Corporation reported impressive first-quarter earnings for 2025, surpassing analyst expectations. The company achieved an adjusted earnings per share (EPS) of $0.44, more than double the anticipated $0.21, and reported revenue of $206 million, exceeding the forecasted $193.64 million. This strong performance was driven by a significant 11% year-over-year revenue increase and record bookings of $280 million. In addition, Astronics shareholders approved several key proposals at the company’s 2025 Annual Meeting, including the election of the Board of Directors, the ratification of Ernst & Young LLP as the independent auditor, and an amendment to the Long Term Incentive Plan to increase available shares. The company’s Aerospace segment showed notable strength, contributing to improved margins and profitability, while the Test segment faced operational challenges. Astronics also provided optimistic guidance for the full year, expecting revenue between $820 million and $860 million. The company continues to focus on strategies to mitigate potential tariff impacts, which may influence costs and margins.
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