AstroNova Files 10-Q: Honeywell Deal & Royalties
Ticker: ALOT · Form: 10-Q · Filed: Jun 6, 2024 · CIK: 8146
| Field | Detail |
|---|---|
| Company | Astronova, INC. (ALOT) |
| Form Type | 10-Q |
| Filed Date | Jun 6, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, acquisition, licensing, debt
Related Tickers: HON
TL;DR
AstroNova's 10-Q is in: Honeywell deal details and royalty payments are key. Check financials.
AI Summary
AstroNova, Inc. filed its 10-Q for the period ending April 27, 2024. The company reported financial results and provided updates on its business operations. Key events mentioned include the Honeywell Asset Purchase and License Agreement and royalty payments due in Year Two.
Why It Matters
This filing provides insight into AstroNova's financial health and strategic partnerships, including the significant Honeywell asset purchase, which could impact future revenue streams.
Risk Assessment
Risk Level: medium — The filing details financial performance and strategic agreements, which inherently carry business and financial risks.
Key Numbers
- $0.00 — Royalty Payments Due Year Two (Specific financial obligation related to the Honeywell agreement.)
- $0.00 — Term Loan Due August Fourth Two Thousand And Twenty Seven (Long-term debt obligation.)
Key Players & Entities
- AstroNova, Inc. (company) — Filer of the 10-Q
- 2024-04-27 (date) — End of reporting period
- Honeywell Asset Purchase and License Agreement (company) — Key business agreement mentioned
- 2024-02-01 (date) — Date related to Honeywell agreement
- Bank of America (company) — Mentioned in relation to revolving credit facility
FAQ
What were the specific financial results for the quarter ending April 27, 2024?
The provided text is an excerpt and does not contain specific financial results like revenue or net income for the quarter ending April 27, 2024.
What are the terms of the Honeywell Asset Purchase and License Agreement?
The filing mentions the 'Honeywell Asset Purchase and License Agreement' and related 'Royalty Payments Due Year Two', indicating a significant transaction but not detailing the full terms.
What is the outstanding balance of the Term Loan due August 4, 2027?
The filing lists 'TermLoanDueAugustFourthTwoThousandAndTwentySevenMember' but does not specify the outstanding balance.
What is the status of AstroNova's revolving credit facility with Bank of America?
The filing mentions 'us-gaap:RevolvingCreditFacilityMember' and 'BankOfAmericaMember' in relation to the period ending April 27, 2024, suggesting an active facility, but specific details like available credit are not provided in this excerpt.
Has AstroNova repurchased any shares recently?
The filing references 'us-gaap:TreasuryStockCommonMember' for the period ending January 31, 2023, indicating past treasury stock activity, but not recent repurchases within the current reporting period.
Filing Stats: 4,396 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-06-06 12:00:32
Filing Documents
- alot-20240427.htm (10-Q) — 1412KB
- alot-ex31_1.htm (EX-31.1) — 14KB
- alot-ex31_2.htm (EX-31.2) — 14KB
- alot-ex32_1.htm (EX-32.1) — 9KB
- alot-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-069734.txt ( ) — 7376KB
- alot-20240427.xsd (EX-101.SCH) — 1202KB
- alot-20240427_htm.xml (XML) — 1315KB
Financial Statements
Financial Statements Unaudited Condensed Consolidated Balance Sheets – April 27, 2024 and January 31, 2024 1 Unaudited Condensed Consolidated Statements of Income – Three Months Ended April 27, 2024 and April 29, 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Income – Three Months Ended April 27, 2024 and April 29, 2023 3 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity – Three Months Ended April 27, 2024 and April 29, 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows – Three Months Ended April 27, 2024 and April 29, 2023 5 Notes to the Condensed Consolidated Financial Statements (unaudited) 6 - 17 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 17 - 23 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 23 Item 4.
Controls and Procedures
Controls and Procedures 23 - 24 Part II. Other Information 24 Item 1.
Legal Proceedings
Legal Proceedings 24 Item 1A.
Risk Factors
Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 6. Exhibits 26
Signatures
Signatures 27 Pa rt I. FINANCIAL INFORMATION It em 1. Financial Statements ASTRONOVA, INC. CONDENSED CONSOL IDATED BALANCE SHEETS (In Thousands, Except Share Data) April 27, 2024 January 31, 2024 (Unaudited) ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 3,990 $ 4,527 Accounts Receivable, net 17,863 23,056 Inventories, net 45,177 46,371 Prepaid Expenses and Other Current Assets 3,242 2,720 Total Current Assets 70,272 76,674 Property, Plant and Equipment, net 14,206 14,185 Identifiable Intangibles, net 18,402 18,836 Goodwill 14,536 14,633 Deferred Tax Assets, net 6,880 6,882 Right of Use Asset 894 603 Other Assets 1,411 1,438 TOTAL ASSETS $ 126,601 $ 133,251 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts Payable $ 7,012 $ 8,068 Accrued Compensation 2,934 2,923 Other Accrued Expenses 2,787 2,706 Revolving Line of Credit 3,400 8,900 Current Portion of Long-Term Debt 2,844 2,842 Current Liability—Royalty Obligation 1,700 1,700 Current Liability—Excess Royalty Payment Due 572 935 Income Taxes Payable 512 349 Deferred Revenue 1,151 1,338 Total Current Liabilities 22,912 29,761 NON-CURRENT LIABILITIES Long-Term Debt, net of current portion 9,343 10,050 Royalty Obligation, net of current portion 1,816 2,093 Lease Liabilities, net of current portion 680 415 Income Taxes Payable 551 551 Deferred Tax Liabilities 92 99 TOTAL LIABILITIES 35,394 42,969 SHAREHOLDERS' EQUITY Preferred Stock, $ 10 Par Value, Authorized 100,000 shares, None Issued — — Common Stock, $ 0.05 Par Value, Authorized 13,000,000 shares; Issued 10,895,269 and 10,812,137 shares at April 27, 2024 and January 31, 2024, respectively 545 541 Additional Paid-in Capital 63,053 62,684 Retained Earnings 65,050 63,869 Treasury Stock, at Cost, 3,393,442 and 3,368,76