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Astronics history
Astronics company history timeline
Sales volume fell to just $1,777 in 1970 as the company devoted its time to research and development.
Keane liked them; he left Maday Body Equipment Corp. (of which he was part owner) at the end of 1970 to help the inventor's company along.
Rand Capital's investment in late 1970 allowed Astronics to document its RD efforts and gain a contract from NASA via the Singer Co.
The company filed a stock offering in December 1971 to raise $1.8 million.
Sometimes called Astronics Luminescent Inc., Astronics had about eleven employees and billed $14,000 during 1971.
Astronics bought A~T-O Inc.'s Scott Aviation Division for $120,000 in May 1972.
1972:Astronics enters specialty packaging business through purchase of MOD-PAC Corp.
A 14,000-square-foot building at 77 Olean Road in East Aurora was purchased in January 1973.
Profits were $130,340 on sales of $2.7 million in 1974.
Sales reached $3.4 million in 1976 and $4.3 million the next, with earnings of $283,000.
In November 1977, Astronics bought United Business Equipment Corp. (UBEC) of Buffalo, which sold $1 million of filing systems a year.
By 1979, Astronics was posting annual sales of $8 million a year.
The company bought the Grimes Electroluminescent Lighting Product Group in 1988.
A $2 million loss on sales of $22.2 million in 1989 prompted Keane to implement a restructuring plan.
Concerned by its depressed share price, the company began buying back stock in July 1994.
In 1994, Flex-Key operations were moved from Massachusetts to East Aurora, New York, where they were consolidated with those of the E~L Products Co. under the name E~L FlexKey Technologies Inc.
Since its founding in 1995, PDT, an Astronics Company, has been committed to providing truly comprehensive product development services via a proven, process-driven approach.
In 1996, the company doubled the capacity of its Blasdell, New York specialty packaging facility.
By 1996, the process improvements were paying off as Astronics posted record results: profits increased 51 percent to $2.7 million on sales of $38.4 million, up 35 percent.
The sale completed plans to focus Astronics on just two business segments: Specialized Packaging and Printing and Electronic Systems. (The latter was renamed Aerospace and Electronics in 1997.)
1999:Astronics wins a major contract to retrofit F-16s with night vision equipment.
Astronics continued to post record sales and earnings in 1999.
In May 2000, Astronics acquired some F~16-related switches and indicators lines from Aerospace Avionics, Inc., a Bohemia, New York-based subsidiary of Smiths Industries.
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Astronics competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Rambus | 1990 | $556.6M | 819 | 34 |
| Esterline | 1967 | $2.0B | 12,001 | - |
| Microchip Technology | 1989 | $7.6B | 19,500 | 124 |
| Microsemi | 1960 | $1.8B | 4,400 | - |
| Collins Aerospace | 2018 | $2.4B | 50,000 | 33 |
| pSemi | 1990 | $300.0M | 605 | - |
| Texas Instruments | 1930 | $15.6B | 29,888 | 429 |
| Maxwell Technologies | 1965 | $90.5M | 367 | - |
| Maxim Integrated | 1983 | $2.6B | 7,100 | 1 |
| Teledyne Technologies Incorporated | 1960 | $5.7B | 10,850 | 254 |
Astronics history FAQs
Zippia gives an in-depth look into the details of Astronics, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Astronics. The employee data is based on information from people who have self-reported their past or current employments at Astronics. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Astronics. The data presented on this page does not represent the view of Astronics and its employees or that of Zippia.
Astronics may also be known as or be related to ASTRONICS CORP, Astronics, Astronics Aes and Astronics Corporation.