EAST AURORA, N.Y. - (Business Wire) Astronics Corporation (NASDAQ:ATRO) today announced that it has signed an agreement with Thales, a leading international electronics and systems group, to develop and supply the in-seat power system (ISPS) to be used in conjunction with Thales
’ TopSeries
™ In-Flight Entertainment (IFE) system which will be offered on Boeing
’s (NYSE: BA) new 787 Dreamliner Aircraft.
The TopSeries™ IFE platform is a web-based system designed to support on-demand in-seat audio and video entertainment options, broadband communications with internet-ready capability and in-seat power for passengers’ personal electronic devices, such as laptop computers. Thales’ TopSeries™ IFE system has proved to be popular among worldwide commercial airlines ordering Boeing’s 787, and the agreement with Thales establishes Astronics as the exclusive provider of the ISPS with the installation of TopSeries™ IFE systems.
Peter J. Gundermann, President and CEO of Astronics, commented, “We are excited to participate in the 787 Dreamliner program with Thales, and our expertise in efficient, safe power distribution compliments Thales’ expertise in delivering on-demand digital content to passengers. Together, our systems will enhance the experience of 787 Dreamliner passengers by providing access to a wide-array of entertainment choices.”
About Thales
Thales is a leading international electronics and systems group, serving defence, aerospace, security and services markets worldwide. The Group employs 68,000 people in 50 countries throughout the world with revenue in excess of €10 billion.
ABOUT ASTRONICS CORPORATION
Astronics Corporation is a trusted leader in innovative, high performance lighting, electrical generation, control and distribution systems for the global aerospace industry. Its strategy is to expand the value and content it provides to various aircraft platforms through product development and acquisition. Astronics Corporation, and its wholly-owned subsidiaries Astronics Advanced Electronic Systems Corp. and Luminescent Systems Inc., have a reputation for high quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices.
For more information on Astronics and its products, visit its website at www.Astronics.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expression. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially include the state of the aerospace industry, the market acceptance of newly developed products, internal production capabilities, the timing of orders received, the status of customer certification processes, the demand for and market acceptance of new or existing aircraft which contain the Company’s products, customer preferences, and other factors which are described in filings by Astronics with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking information in this press release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
Astronics
David C. Burney, 716-805-1599, ext. 159
Fax: 716-805-1286
Chief Financial Officer
david.burney@astronics.com
