INVESTOR MEETING AND FACILITY TOUR KIRKLAND, WA

Transcription

1 INVESTOR MEETING AND FACILITY TOUR KIRKLAND, WA September 23, 2015 NASDAQ: ATRO

2 SAFE HARBOR STATEMENT These slides (and the accompanying oral discussion) contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company s customers and suppliers, competitor responses to the Company s products and services, the overall market acceptance of such products and services, the effect of the Company s strategy and other factors disclosed in the Company s periodic reports filed with the Securities and Exchange Commission. Consequently such forward looking statements should be regarded as the Company s current plans, estimates and beliefs. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. 2

3 ASTRONICS CORPORATION Investor Meeting & Facility Tour Schedule 0830 Registration and Breakfast; 0900 Meeting Start Time Welcome & Business Overview Management Representatives Facility Tour Q & A Depart for Lunch Peter Gundermann, President and CEO Dave Burney, Executive VP and CFO Mark Peabody, President, Astronics AES Mike Hettich, VP, AES Cabin Electronics Kellsey Justus, VP, AES Airborne Power & Control Steve Scheidler, President, PECO Groups A, B, C Peter Gundermann Charles at Smugglers Cove 3

4 Electrical Power and Motion (EP&M) In-seat power supply (ISPS) Airframe power Seat actuation Lighting and Safety (L&S) Aircraft lighting Passenger service units Avionics Databus interface products Ku-Band antennas In-flight entertainment for VVIP Enhanced vision systems Systems Certification SEGMENT REVIEW Products on Display Aerospace Commercial aircraft certification solutions for: In-flight connectivity In-flight entertainment Electrical power systems Structures Fuel access doors and diffusers Other Airfield lighting Other PECO products 4 Test Systems Automated test systems Test equipment and instruments Weapons diagnostic test systems 2015E Sales* ($ in millions) $135 - $145 20% Aerospace * Guidance provided as of August 5, 2015 $545 - $570 80% Test Systems

5 SALES GROWTH ($ in millions, except EPS) $661.0 $680-$715 $228.2 $266.4 $339.9 $334.8 Q2 YTD E $1.01 $1.00 $1.24 $2.48 Diluted EPS* Guidance provided as of August 5, 2015 * Adjusted for September % Class B Stock distribution 5

6 ACQUISITIONS Armstrong: $52 million purchase January 2015 Aerospace: Systems Certification, Power and Avionics EADS N.A. T&S: $69 million purchase February 2014 Test: Commercial and Defense PGA: $31 million purchase December 2013 Aerospace: Motion, Avionics and Lighting AeroSat: $12 million purchase + earn out October 2013 Aerospace: Avionics PECO: $136 million purchase July 2013 Aerospace: Lighting and Structures 6

7 ASTRONICS LOCATIONS Itasca, IL Connectivity In-flight Entertainment, Electrical Power Systems 7

8 Q TTM SALES Sales by Product Sales by Market Structures 2% Other 3% Systems Certification 2% Avionics 9% Test Systems 23% Lighting & Safety 22% Electrical Power & Motion 39% Other 3% Business Jet 5% Military 6% Test Systems 23% Commercial Transport 63% Q TTM Sales: $680.3 Million 8

9 ELECTRICAL POWER AND MOTION IN-SEAT AND OFF-SEAT POWER Power Systems for Personal Electronic Devices Rapid adoption rates by global commercial airlines More than 180 airline and OEM customers; Installed on over 800,000 seats IFE power supplier to Thales, Rockwell and Panasonic Installed on business aircraft from Piper to Boeing Business Jet Outlet Units PowerBar & PowerBox off-seat power solutions provide passenger power without modification or recertification of existing seats In-Seat Power Supply 9

10 Aircraft Units COMMERCIAL TRANSPORT DELIVERY FORECAST 2000 History Forecast Light/Medium Heavy Source: Airbus & Boeing Actual deliveries through 12/31/2014 / Forecast International (July 2015) 10

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12 Importance of Passenger Power Video: Information: US/content/travel/inflight/connectivity/default.aspx Video: Video (AC Power at 3:00 mark): Information: s/fly-with-us Information: /duringflight/onboardtechnology.jsp 12

13 ELECTRICAL POWER AND MOTION NASDAQ: ATRO

14 PRIMARY POWER SYSTEM DAHER TBM 900 Fully certified and in full rate production ~125 systems delivered 14

15 WINDSHIELD HEAT CONTROLLER HONDAJET Ramping production FAA certification ongoing Completed worldwide tour Booked new orders in Latin America 15

16 CABIN POWER DISTRIBUTION SYSTEM BOMBARDIER GLOBAL 7000 Engine installation completed All major structural components Rear, center and forward fuselage; wing; landing gears; and vertical and horizontal stabilizers 16

17 SECONDARY POWER DISTRIBUTION SYSTEM PILATUS PC-24 Includes Induction Starter Generator FTV1 over 100 flight hours FTV2 scheduled to fly before year-end 17

18 SECONDARY POWER DISTRIBUTION SYSTEM BELL 525 Flight test vehicle (FTV1) 15 test flights FTV2* and FTV3 are in assembly 18

19 PRIMARY POWER SYSTEM BELL 505 JET RANGER X Combined 330 flight test hours FTV1 FTV2 Hot temperature and high altitude Endurance ground run FTV3 Load level Cold weather Noise and handling Function and reliability Completed or in process Upcoming Complete all testing by yearend 19

20 PRIMARY & SECONDARY POWER SYSTEM BELL V280 VALOR Design reviews completed On track to deliver Safety of Flight hardware in early 2016 Flight testing planned for

21 ELECTRICAL POWER AND MOTION SEAT ACTUATION Gen VI Smart Motion System Gen V Nano Smart Motion System 21

22 LIGHTING AND SAFETY AIRCRAFT LIGHTING Exterior Lighting Systems Beacon & Formation Taxi & Landing Position / Anti-Collision Pioneered Application of Hi-Res / Low-Power LEDs for Aircraft Lighting LED Lighting on 737 Max Cabin Lighting Systems Passenger Information Signs Emergency Egress Lighting Smart Lighting Systems Cockpit Lighting Systems Control Panel Assemblies Military NVIS Lighting Night Vision Modifications Exterior Lighting 22

23 LIGHTING AND SAFETY PASSENGER SERVICE UNITS Passenger Service Unit (PSUs): Lights, Speakers, Signage Oxygen Masks Air Ventilation System Creating value through innovation by redesign of full air ventilation system Largest customer: Boeing approximately $235k in content (PSUs, fuel access doors) approximately $100k in content (BSI PSUs, fuel access doors) approximately $45k in content (fuel access doors) 747 approximately $30k in content (PSUS, fuel access doors) 777X Recent award being negotiated (PSUs) 23

24 AVIONICS ANTENNA SYSTEMS Satellite-Based Broadband In-flight internet and TV connectivity Ku Band connectivity solution: current leading technology, lower cost, flexible applications, efficient Expansive intellectual property portfolio Targeting commercial, business, and military aircraft applications Providing GoGo KU Band satellite antennas for commercial international flights VVIP/Bizjet Broadband Solution High-speed connectivity for data, voice and video Worldwide coverage from the moment you step on the aircraft Simultaneous Internet and HDTV capacity Simple, end-to-end solution with hardware, service, support and certification 24

25 AVIONICS Large private and government jets In-flight entertainment for VVIP $2 million to $10 million per install Enhanced Vision Systems Provides real-time display for increased visibility in adverse weather conditions FAA Certified on more than 200 aircraft models 25

26 AVIONICS DATABUS SOLUTIONS Aircraft Interface Device (AID): Translation devices that enable varying system protocols to communicate Interface between EFB and Aircraft Systems Embedded Computers, Systems & Function Cards 26

27 BALLARD DATABUS SOLUTIONS BALLARD: INCREASING SECURITY Data/protocol conversion Enable incompatible equipment to work together by converting databus protocols, message formats, data and attributes. Data concentration/separation Serve multiplexed and demultiplexed avionics data Domain isolation Isolate and protect critical systems from interference and corruption by non-critical systems. Firewall Operational processing Execute software to provide interactive control, data processing and interface functionality. 27

28 BALLARD WIRELESS ELECTRONIC FLIGHT BAG New EFB Platform Gather aircraft data Run custom software or a variety of Type A/B EFB applications Securely view applications on choice of wireless devices 28

29 AEROSPACE SEGMENT: WELL POSITIONED Wide range of high profile next generation aircraft platforms Embraer Phenom 100/300: Exterior lighting UH-60 Blackhawk: Exterior cockpit lighting V-22 Osprey: Cabin, cockpit & exterior lighting Cessna: Exterior & cockpit lighting Airbus A380: Cabin lighting & cabin electronics Boeing 787: Passenger power & fuel doors Boeing 737 NG & BSI: PSU, fuel doors & passenger power available F-35 JSF: Exterior lighting suite & lighting controllers Pilatus PC-24: Airframe power & starter generator Airbus 350: Emergency egress lighting & passenger power Bell 505, 525 & V280: Airframe power 737MAX: Exterior lighting system & PSU 777X: PSU Current Next Generation 29

30 TEST SYSTEMS LEADING PROVIDER OF HIGHLY ENGINEERED AUTOMATED TEST SYSTEMS, SUBSYSTEMS, AND INSTRUMENTS FOR THE COMMERCIAL AND DEFENSE MARKETS Strong capabilities of both hardware and software expertise Family of test systems support all levels of performance verification Highly customized test solutions Expected Test Systems sales of $135 million to $145 million in 2015* * Guidance provided as of August 5,

31 INVESTOR MEETING AND FACILITY TOUR KIRKLAND, WA September 23, 2015 NASDAQ: ATRO