Shares of aerospace and defense products provider Astronics Corp. (NASDAQ:ATRO) are soaring higher today after the company announced preliminary sales figures for the fourth quarter.
Revenue is expected to range between $155 million and $160 million as compared to expectations near the $144 million mark. The figure is also better than ATRO’s earlier guidance between $140 million and $150 million.
Further, preliminary bookings are anticipated between $175 million and $180 million. The company continues to see strong order flow and an improvement in the supply chain. Additionally, ATRO has also completed a financing transaction of $205 million and it now expects to be cash flow positive this year.
ATRO shares have now rocketed nearly 35% over the past month and analysts currently have a Hold consensus rating on the stock. The average price target of $8 though hints at a potential downside of 35%. Further, analysts expect the company to post a net loss per share of $0.23 for the fourth quarter.
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