On June 11, AstroNova (NASDAQ: ALOT) a global leader in data visualization technologies reported Q1 results.
REVENUE: Revenue totaled $30.9 million in fiscal 2021 in the first quarter. Revenue in the last year is $36.2 million.
GROSS PROFIT: Gross profit in the first quarter of the fiscal year 2021 was $10.9 that is 35.1% of revenue. In last year’s fiscal 2020 quarter, revenue is $14.2 million that is 39.4% of revenue. This decrease in revenue was reflected by low income and less favorable product mix in the 2021 period. This is primarily in the Test & Measurement segment.
OPERATIVE EXPENSES: Operating expenses for the financial 2021 first quarter is $10.2 million. This is down approximately 13% compared with the last fiscal year 2020 by $11.8 million.
NET INCOME: Net income for the first quarter of 2021 was $432,000. This was $0.06 per diluted share. This is compared with net income of $1.7 million that is $0.23 per diluted share, for the first quarter of the financial year 2020.
First-quarter financial 2021 bookings were $31.2 million compared to $38.5 million in the first quarter of the last fiscal 2020.
Source: AstroNova official site
Q1 FY 2021 OPERATING SEGMENT RESULTS
Product Identification: The segment revenue in the first quarter of financial year 2021 was $22.4 million. This segment revenue is $23.6 million in the last year period. Segment operating income was improved to $3.1 million that is 14.1% of revenue. In last year the product identification revenue is $2.9 million that is 12.2% of revenue in the last year. This is primarily reflecting a higher percentage of supplies revenue in the financial year 2021.
Test & Measurement: This segment revenue in the first quarter of the financial year 2021 was $8.5 million. The last year test & measurement is compared is $12.6 million in the fiscal of 2020. This primarily is due to the continued grounding of the Boeing 737 MAX. this also due to demand weakness in the Aerospace industry related to COVID-19. The Test & Measurement segment was recorded with an operating loss of $0.2 million that is negative 1.8% of revenue. The last year segment operating income is $2.6 million, that is 20.5% of revenue, in the last year of fiscal 2020.
Source: Business Quant
The current valuation holds the price to book value 0.7, price to earnings is 49.8 and price to sales is 0.7. Enterprise valuation to assets is 0.6, EV to Cash from Operations is 29.3 and EV to debt is 3.2. Enterprise valuation to EBIT is -60. Enterprise valuation to EBITDA is 131.7, EV to free cash flow is 37.4 and EV to market capitalization is 1.4.
The company holds a 52-week high of 26.57 and a 52-week low of 5.29. The company has a market capitalization of 48.3 million. The 10-day average volume of trading is 46.169. The dividend (TTM) of the shares is 0.28, the dividend yield (TTM) is 4.11%. The EPS of the shares is 0.06. Price to earnings ratio of the firm 0.06. ROE of the company is 2.49%. EBITDA of the company is 8.72.
The result of Q1 is not satisfactory in the eyes of investors. The analyst reduced their forecast revenue estimates for AstroNova for the coming year. Some of the analysts also downgraded their revenue estimates. The available data indicates revenues are expected to perform worse than the wider industry. The share price is largely unchanged in the week since results came out. The earnings report of the Q1 fiscal 2021 did not have much of an impact on the market perception of the company.
ABOUT THE COMPANY
AstroNova is a global leader in data visualization technologies since 1969. The company designs, manufactures, distributes, and services. A large range of products is offered that acquire, store, analyze, and present data in multiple formats in a customized manner.
Due to COVID-19 company suffers a lot. The AstroNova team has to work with unyielding commitment during this unique period. They have done an outstanding job supporting the customers and one another. Their dedication makes it possible to continue providing the customers with the highest quality products and services every day. Not surprisingly, the first-quarter results reflected the widespread economic disruption caused by COVID-19, which has touched virtually every industry in nearly every geographic region. The company is working to overcome this.