# EDGAR Filing Document

**Accession Number:** 0000008146
**File Stem:** 0001157523-23-000479
**Filing Date:** 2023-3
**Character Count:** 43900
**Document Hash:** 8f7e2b6fcb6911058645d504243686e4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001157523-23-000479.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001157523-23-000479

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230323

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AstroNova, Inc.
- **CENTRAL INDEX KEY:** 0000008146
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
- **IRS NUMBER:** 050318215
- **STATE OF INCORPORATION:** RI
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-13200
- **FILM NUMBER:** 23754482

**BUSINESS ADDRESS:**
- **STREET 1:** 600 E GREENWICH AVENUE
- **CITY:** WEST WARWICK
- **STATE:** RI
- **ZIP:** 02893
- **BUSINESS PHONE:** 4018284000

**MAIL ADDRESS:**
- **STREET 1:** 600 E GREENWICH AVENUE
- **CITY:** WEST WARWICK
- **STATE:** RI
- **ZIP:** 02893

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASTRO MED INC /NEW/
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ATLAN TOL INDUSTRIES INC
- **DATE OF NAME CHANGE:** 19850220

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549
**FORM 8-K**

#### CURRENT REPORT

#### Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): March 23, 2023

### ASTRONOVA, INC.
(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Rhode Island**  | **0-13200**  | **05-0318215**  |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| |
|:---|
| **600 East Greenwich Avenue**  |
| **West Warwick, RI 02893** |
| (Address of principal executive offices) (Zip Code) |

---

(401) 828-4000

Registrant's telephone number, including area code

#### Not applicable
(Former name or former address, if changed since last report.)

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading**<br> **Symbol(s)** | **Name of Each Exchange**<br> **on which Registered** |
| **Common Stock, $0.05 Par Value**  | **ALOT**  | **NASDAQ Global Market**  |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On March 23, 2023, we issued a press release reporting the financial results for our fiscal fourth quarter and full year ended January 31, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained in Item 2.02 of this report and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statement and Exhibits.** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Exhibit</u>** |
| [99.1](a53366399_ex991.htm) | [Press Release dated March 23, 2023](a53366399_ex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| Dated: March 23, 2023 | By: | /s/ David S. Smith |
|  |  | David S. Smith |
|  |  | Vice President, Chief Financial Officer and Treasurer |

---

## Exhibit 99.1

**Exhibit 99.1**<br>

**** 

<br> # **AstroNova Announces Fiscal Fourth-Quarter and Full-Year 2023 Financial Results** 
 ***Company to Host Conference Call at 9:00 a.m. ET Today*** 

 **Fiscal Fourth-Quarter 2023 Summary** 

*** Bookings of $36.3 million 

* Revenue of $39.9 million 

* Operating income of $2.1 million 

* Net income of $1.4 million, or $0.18 per diluted share 

* Adjusted EBITDA of $3.9 million, or 9.7% of revenue**

 **Fiscal Full-Year 2023 Summary** 

*** Bookings of $138.6 million 

* Backlog of $35.8 million at fiscal year-end 

* Revenue of $142.5 million 

* Operating income of $5.4 million 

* Net income of $2.7 million, or $0.36 per diluted share 

* Adjusted EBITDA of $10.3 million, or 7.3% of revenue**

WEST WARWICK, R.I.--(BUSINESS WIRE)--March 23, 2023--AstroNova, Inc. (Nasdaq: ALOT), a global leader in data visualization technologies, today announced financial results for the fourth quarter and full year ended January 31, 2023.

 **CEO Commentary**

"We finished fiscal 2023 with a strong fourth quarter, delivering solid revenue and earnings growth," stated Greg Woods, President and Chief Executive Officer of AstroNova. "Our performance highlights the outstanding work of our team members around the globe in navigating a year of extraordinary macroeconomic challenges and positioning AstroNova for continued success as we advance through fiscal 2024 and beyond.

"Revenue increased 34% year-over-year in the fourth quarter, fueled by gains in both segments. In Test & Measurement, 61% top-line growth was driven by our Aerospace product line, which benefited from a combination of favorable pricing adjustments, greater cost efficiencies and the ongoing production ramp of commercial, business and military aircraft. With the recovery in commercial air travel, revenue from supplies and repair services also grew nicely. While the cost for certain components remains elevated, the supply chain constraints and pricing effects we were experiencing earlier in the year moderated in the fourth quarter," Woods stated.

------

"Our Product Identification segment generated 26% revenue growth in the quarter, attributable to the acquisition of Astro Machine in the third quarter of fiscal 2023," Woods stated. "The business is performing in line with our expectations as we advance through the integration process. During the fourth quarter, we launched the production release of the QL-E100, our full-color label printer designed for small businesses and production facilities. Production shipments are underway, and we are pleased with the initial customer response to our entry into this new tabletop market segment.

On a Generally Accepted Accounting Principles (GAAP) basis, net income for the 12 months ended January 31, 2023, included $0.7 million of operating expenses related to the acquisition of Astro Machine, Inc. For the twelve months ended January 31, 2022, GAAP net income included $6.0 million, or $0.82 per diluted share, in benefits related to an employee retention credit under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and loan forgiveness under the Paycheck Protection Program (PPP). GAAP net income for fiscal year 2022 also included an expense of $0.5 million (net of tax), or $0.07 per diluted share, related to the write-off of the Company's Oracle EnterpriseOne Enterprise Resource Planning (ERP) system.

 **Operating Segment Results**

 <u>Product Identification</u>

Product Identification segment revenue was $28.1 million in the fourth quarter of fiscal 2023, compared with $22.4 million in the fiscal 2022 fourth quarter. Segment operating profit was $1.9 million, or 6.7% of revenue, compared with revenue of $1.5 million, or 6.5% of revenue, in the fourth quarter of fiscal 2022, reflecting higher sales and an easing of supply chain pressures in the 2023 period.

For fiscal full-year 2023, Product Identification revenue increased to $103.1 million from $90.9 million for fiscal full-year 2022. GAAP segment operating profit was $7.9 million, or 7.7% of revenue, in fiscal 2023 compared with $10.4 million, or 11.5% of revenue, in fiscal 2022. On a non-GAAP basis, excluding the employee retention credit under the CARES Act, segment operating profit in fiscal 2022 was $9.0 million, or 9.9% of revenue. There were no non-GAAP adjustments to segment operating profit in fiscal 2023.

------

 <u>Test & Measurement</u>

Test & Measurement segment revenue increased to $11.7 million in the fourth quarter of fiscal 2023 from $7.3 million in the fourth quarter of fiscal 2022, primarily as a result of favorable pricing actions and the continued recovery of the commercial aviation market. Segment operating profit was $3.2 million, or 27.3% of segment revenue, compared with operating profit of $0.5 million, or 6.8% of segment revenue, in the fourth quarter of fiscal 2022, reflecting higher revenues, increased manufacturing efficiencies and favorable pricing actions in the 2023 period.

For fiscal full-year 2023, Test & Measurement revenue was $39.4 million, compared with $26.6 million in fiscal full-year 2022. GAAP segment operating profit was $9.0 million, or 22.8% of segment revenue, in fiscal 2023, compared with $3.4 million, or 12.8% of revenue in fiscal 2022. On a non-GAAP basis, excluding the employee retention credit under the CARES Act, segment operating profit in fiscal 2022 was $2.6 million, or 9.8% of revenue. There were no non-GAAP adjustments to segment operating profit in fiscal 2023.

 **Financial Results Summary**

Revenue totaled $39.9 million in the fourth quarter of fiscal 2023, compared with $29.7 million in the year-earlier period, driven by growth in both segments. For fiscal full-year 2023, revenue was $142.5 million compared with $117.5 million in fiscal full-year 2022.

Hardware revenue in the fourth quarter of fiscal 2023 was $12.6 million, compared with $8.4 million in the fourth quarter of fiscal 2022. Supplies revenue was $22.0 million in the fourth quarter of fiscal 2023 versus $18.3 million in the fourth quarter of fiscal 2022. Revenue from Service/Other was $5.3 million in the fourth quarter of fiscal 2023, compared with $3.1 million in the fourth quarter of fiscal 2022. For fiscal full-year 2023, hardware revenue was $42.4 million, compared with $31.5 million in fiscal full-year 2022. Supplies revenue was $82.1 million in fiscal 2023 versus $73.2 million in fiscal 2022. Revenue from Service/Other was $18.0 million in fiscal 2023, compared with $12.7 million in fiscal 2022.

Gross profit was $13.6 million, or 34.0% of revenue, in the fourth quarter of fiscal 2023, compared with $9.8 million, or 32.8% of revenue, in the fourth quarter of fiscal 2022. The increase primarily reflected the effect of higher revenue and lower manufacturing costs due to an easing of supply chain pressures in the 2023 period.

For fiscal 2023, gross profit was $48.2 million, or 33.8% of revenue, compared with $43.7 million, or 37.2% of revenue, in fiscal 2022. The increase in gross profit dollars was driven by higher revenue in 2023, while the decrease in margin percentage was primarily due to the mix impact of Astro Machine's lower gross margins. On a non-GAAP basis, excluding the effect of employee retention credit under the CARES Act, gross profit in fiscal 2022 was $42.1 million, or 35.8% of revenue. There were no non-GAAP adjustments to gross profit in fiscal 2023.

Operating expenses totaled $11.5 million in the fourth quarter of fiscal 2023, up 14.9% compared with $10.0 million in the fourth quarter of fiscal 2022. For fiscal full-year 2023, operating expenses were $42.7 million, compared with $39.5 million in fiscal full-year 2022. On a non-GAAP basis, excluding the Astro Machine acquisition costs, operating expenses were $42.0 million in fiscal 2023, compared with $40.0 million in fiscal 2022, which excludes the employee retention credit under the CARES Act.

------

Operating income was $2.1 million in the fourth quarter of fiscal 2023, compared with an operating loss of $0.2 million in the fourth quarter of fiscal 2022. For fiscal full-year 2023, operating income was $5.4 million, compared with $4.3 million in fiscal full-year 2022. On a non-GAAP basis, excluding the Astro Machine acquisition costs, operating income was $6.2 million in fiscal 2023, compared with $2.1 million in fiscal 2022, which excludes the employee retention credit under the CARES Act.

Net income was $1.4 million, or $0.18 per diluted share, in the fourth quarter of fiscal 2023 compared with a net loss of $0.8 million, or $0.10 per share, in the fourth quarter of fiscal 2022. For fiscal full-year 2023, net income was $2.7 million, or $0.36 per diluted share, compared with net income of $6.4 million, or $0.88 per diluted share, in fiscal full-year 2022. On a non-GAAP basis, excluding the Astro Machine acquisition costs, net income was $3.2 million, or $0.43 per diluted share in fiscal 2023, compared with net income of $0.9 million, or $0.12 per diluted share in fiscal 2022, which excludes the ERP write-off expense, the employee retention credit under the CARES Act and the PPP loan forgiveness.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $3.5 million for the fourth-quarter of 2023, compared with $0.6 million for the same period in fiscal 2022. For fiscal full-year 2023, EBITDA was $9.1 million versus $11.7 million for fiscal full-year 2022. Excluding the Astro Machine acquisition costs, EBITDA was $9.8 million in fiscal 2023, compared with $5.8 million in fiscal 2022, which excludes the ERP write-off expense, the employee retention credit and the PPP loan forgiveness.

Adjusted EBITDA, which the Company defines as earnings before interest, taxes, depreciation, amortization and share-based compensation, was $3.9 million for the fourth quarter of fiscal 2023, compared with $0.8 million in the fourth quarter of fiscal 2022. For fiscal full-year 2023, Adjusted EBITDA was $10.3 million, compared with $13.2 million in fiscal 2022. On a further basis, excluding the Astro Machine acquisition costs, Adjusted EBITDA was $11.1 million in fiscal 2023 compared with $7.3 million in fiscal 2022, which excludes the ERP write-off expense, the employee retention credit under the CARES Act and the PPP loan forgiveness.

Bookings in the fourth quarter of fiscal 2023 were $36.6 million, compared with $32.9 million in the fourth quarter of fiscal 2022, reflecting an increase in orders for both segments. Bookings were $138.6 million in fiscal full-year 2023, compared with $128.6 million in fiscal full-year 2022.

Backlog as of January 31, 2023 was $35.8 million versus $27.8 million at the end of fiscal 2022.

 **Earnings Conference Call**

AstroNova will discuss its fourth-quarter and fiscal full-year 2023 financial results in an investor conference call at 9:00 a.m. ET today. To participate on the conference call, please dial (844) 200-6205 (U.S. and Canada) or (929) 526-1599 (International) approximately 10 minutes prior to the start time and enter access code 729026. A real-time and an archived audio webcast of the call will be available through the "Investors" section of the AstroNova website, https://investors.astronovainc.com.

------

 **Use of Non-GAAP Financial Measures**

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this news release contains the non-GAAP financial measures non-GAAP gross profit excluding the employee retention credit under the CARES Act; non-GAAP operating expenses excluding Astro Machine acquisition costs; non-GAAP operating expenses excluding employee retention credit under the CARES Act; non-GAAP operating income excluding Astro Machine acquisition costs; non-GAAP operating income excluding employee retention credit under the CARES Act; non-GAAP net income and earnings per share, diluted, excluding Astro Machine acquisition costs; non-GAAP net income and earnings per share, diluted, excluding ERP write-off expense, employee retention credit under the CARES Act and PPP loan forgiveness; EBITDA and Adjusted EBITDA; EBITDA and Adjusted EBITDA excluding Astro Machine acquisition costs; EBITDA and Adjusted EBITDA excluding the ERP write-off expense, the employee retention credit under the CARES Act and the PPP loan forgiveness; and non-GAAP segment operating profit excluding the employee retention credit under the CARES Act.

AstroNova believes that the inclusion of these non-GAAP financial measures helps investors gain a meaningful understanding of changes in the Company's core operating results and can help investors who wish to make comparisons between AstroNova and other companies on both a GAAP and a non-GAAP basis. AstroNova's management uses these non-GAAP financial measures, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. These measures are also used by the Company's management to assist with their financial and operating decision-making. Please refer to the financial reconciliation tables included in this news release for a reconciliation of GAAP measures to the most directly comparable non-GAAP measures for the three and 12 months ended January 31, 2023 and 2022.

 **About AstroNova**

AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, is focused on designing, manufacturing, distributing and servicing a broad range of products that acquire, store, analyze and present data in multiple formats. The Company's Product Identification segment offers a complete line-up of label and direct-to-package printing hardware and supplies, allowing customers to mark, track and enhance their products' appearance. Supported by AstroNova's customer application experts and technology leadership in printing, material science and high-speed data processing, customers benefit from an optimized, "total solution" approach. The Test & Measurement segment includes the AstroNova Aerospace business unit. This segment designs and manufactures flight deck printers, networking hardware and related accessories serving the world's aerospace and defense industries with proven advanced airborne technology solutions for the cockpit, the cabin and so much more. AstroNova is a member of the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting https://astronovainc.com/.

------

 **Forward-Looking Statements**

Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but rather reflect our current expectations concerning future events and results. These statements may include the use of the words "believes," "expects," "intends," "plans," "anticipates," "likely," "continues," "may," "will," and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company's anticipated performance, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, (i) the risk that we may not be able to realize the expected synergies from our acquisition of Astro Machine, (ii) the risk that apparent improvements in the Aerospace and Defense sectors may not continue and (iii) those factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2021 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

------

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| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Condensed Consolidated Statements of Income** | **Condensed Consolidated Statements of Income** | **Condensed Consolidated Statements of Income** | **Condensed Consolidated Statements of Income** | **Condensed Consolidated Statements of Income** |
| **In Thousands Except for Per Share Data** | **In Thousands Except for Per Share Data** | **In Thousands Except for Per Share Data** | **In Thousands Except for Per Share Data** | **In Thousands Except for Per Share Data** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Revenue | $**39853**  | $29700  | $**142527**  | $117480  |
| Cost of Revenue | **26291**  | 19949  | **94371**  | 73741  |
| Gross Profit | **13562**  | 9751  | **48156**  | 43739  |
| *Total Gross Profit Margin* | ***34.0%***  | *32.8%*  | ***33.8%***  | *37.2%*  |
| Operating Expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling & Marketing | **6686**  | 6247  | **24456**  | 23177  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research & Development | **1801**  | 1549  | **6822**  | 6753  |
| &nbsp;&nbsp;&nbsp;&nbsp;General & Administrative | **2978**  | 2182  | **11435**  | 9553  |
| Total Operating Expenses | **11465**  | 9978  | **42713**  | 39483  |
| Operating Income | **2097**  | (227)  | **5443**  | 4256  |
| *Total Operating Margin* | *5.3%*  | *-0.8%*  | *3.8%*  | *3.6%*  |
| Other Income (Expense), net: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest Expense  | **(592)**  | (150)  | **(1678)**  | (677)  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain (Loss) on Foreign Currency Transactions | **140**  | (57)  | **(474)**  | (288)  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on Extinguishment of Debt - PPP Loan | **-**  | -  | **-**  | 4466  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on Disposal of Assets | **-**  | -  | **-**  | (696)  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other, net | **85**  | (17)  | **119**  | (27)  |
|  | **(367)**  | (224)  | **(2033)**  | 2778  |
| Income (Loss) Before Taxes | **1730**  | (451)  | **3410**  | 7034  |
| Income Tax Provision | **367**  | 308  | **749**  | 605  |
| Net Income (Loss) | $**1363**  | $(759)  | $**2661**  | $6429  |
| Net Income (Loss) per Common Share - Basic | $**0.19**  | $(0.10)  | $**0.36**  | $0.89  |
| Net Income (Loss) per Common Share - Diluted | $**0.18**  | $(0.10)  | $**0.36**  | $0.88  |
| Weighted Average Number of Common Shares - Basic | **7330**  | 7237  | **7307**  | 7207  |
| Weighted Average Number of Common Shares - Diluted | **7406**  | 7237  | **7374**  | 7339  |

---

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| | | |
|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Balance Sheet** | **Balance Sheet** | **Balance Sheet** |
| **In Thousands** | **In Thousands** | **In Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | **January 31, 2023** | January 31, 2022 |
| ASSETS |  |  |
| CURRENT ASSETS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | $**3946**  | $5276  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Receivable, net | **21598**  | 17124  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | **51324**  | 34609  |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee Retention Credit Receivable | **-**  | 3135  |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid Expenses and Other Current Assets | **2894**  | 3634  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Assets | **79762**  | 63778  |
| PROPERTY, PLANT AND EQUIPMENT | **55394**  | 50821  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less Accumulated Depreciation | **(41106)**  | (39380)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, Plant and Equipment, net | **14288**  | 11441  |
| OTHER ASSETS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets, net | **20702**  | 19200  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | **14658**  | 12156  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Tax Assets | **6740**  | 5591  |
| &nbsp;&nbsp;&nbsp;&nbsp;Right of Use Asset | **794**  | 1094  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Assets | **1566**  | 1695  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL ASSETS | $**138510**  | $114955  |
| LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |
| CURRENT LIABILITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | $**8617**  | $8590  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued Compensation | **2750**  | 3512  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Liabilities and Accrued Expenses | **3337**  | 4113  |
| &nbsp;&nbsp;&nbsp;&nbsp;Revolving Line of Credit | **15900**  | -  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current Portion of Royalty Obligation | **2100**  | 2000  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current Portion of Long-Term Debt | **1625**  | 1000  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current Liability – Excess Royalty Payment Due | **423**  | 235  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income Taxes Payable | **786**  | 323  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Revenue | **1860**  | 262  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Liabilities | **37398**  | 20035  |
| NON-CURRENT LIABILITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-Term Debt, net of current portion | **12040**  | 8154  |
| &nbsp;&nbsp;&nbsp;&nbsp;Royalty Obligation, net of current portion | **2985**  | 4361  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease Liability, net of current portion | **555**  | 808  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income Taxes Payable | **491**  | 399  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Income | **674**  | -  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred Tax Liabilities | **-**  | 186  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES | **54143**  | 33943  |
| SHAREHOLDERS' EQUITY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock | **534**  | 528  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional Paid-in Capital | **61131**  | 59692  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained Earnings | **59175**  | 56514  |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury Stock | **(34235)**  | (33974)  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated Other Comprehensive Loss, net of tax | **(2238)**  | (1748)  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL SHAREHOLDERS' EQUITY | **84367**  | 81012  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $**138510**  | $114955  |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** | **Revenue and Segment Operating Profit (Loss)** |
| **In Thousands** | **In Thousands** | **In Thousands** | **In Thousands** | **In Thousands** | **In Thousands** | **In Thousands** | **In Thousands** | **In Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | **Revenue** | **Revenue** | **Segment Operating Profit (Loss)** | **Segment Operating Profit (Loss)** | **Revenue** | **Revenue** | **Segment Operating Profit (Loss)** | **Segment Operating Profit (Loss)** |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Product Identification | $**28105**  | $22396  | $**1869**  | $1460  | $**103089**  | $90915  | $**7889**  | $10411  |
| Test & Measurement | **11748**  | 7304  | **3206**  | 495  | **39438**  | 26565  | **8989**  | 3398  |
| Total | $**39853**  | $29700  | **5075**  | 1955  | $**142527**  | $117480  | **16878**  | 13809  |
| Corporate Expenses |  |  | **2978**  | 2182  |  |  | **11435**  | 9553  |
| Operating Income |  |  | **2097**  | (227)  |  |  | **5443**  | 4256  |
| Other Income (Expense), net |  |  | **(367)**  | (224)  |  |  | **(2033)**  | 2778  |
| Income (Loss) Before Income Taxes |  |  | **1730**  | (451)  |  |  | **3410**  | 7034  |
| Income Tax Provision |  |  | **367**  | 308  |  |  | **749**  | 605  |
| Net Income (Loss) |  |  | $**1363**  | $(759)  |  |  | $**2661**  | $6429  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of GAAP to Non-GAAP - Gross Profit** | **Reconciliation of GAAP to Non-GAAP - Gross Profit** | **Reconciliation of GAAP to Non-GAAP - Gross Profit** | **Reconciliation of GAAP to Non-GAAP - Gross Profit** | **Reconciliation of GAAP to Non-GAAP - Gross Profit** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Gross Profit - GAAP | $**13562**  | $9751  | $**48156**  | $43739  |
| Employee Retention Credit, net | **-**  | -  | **-**  | (1641)  |
| Gross Profit - Non-GAAP | $**13562**  | $9751  | $**48156**  | $42098  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of GAAP to Non-GAAP - Operating Expenses** | **Reconciliation of GAAP to Non-GAAP - Operating Expenses** | **Reconciliation of GAAP to Non-GAAP - Operating Expenses** | **Reconciliation of GAAP to Non-GAAP - Operating Expenses** | **Reconciliation of GAAP to Non-GAAP - Operating Expenses** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Operating Expenses - GAAP | $**11465**  | $9978  | $**42713**  | $39483  |
| Transaction Costs | $**-**  | $-  | $**(716)**  | $-  |
| Employee Retention Credit, net | **-**  | -  | **-**  | 489  |
| Operating Expenses - Non-GAAP | $**11465**  | $9978  | $**41997**  | $39972  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of GAAP to Non-GAAP - Operating Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Operating Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Operating Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Operating Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Operating Income (Loss)** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Operating Income - GAAP | $**2097**  | $(227)  | $**5443**  | $4256  |
| Transaction Costs | $**-**  | $-  | $**716**  | $-  |
| Employee Retention Credit, net | **-**  | -  | **-**  | (2130)  |
| Operating Income - Non-GAAP | $**2097**  | $(227)  | $**6159**  | $2126  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of GAAP to Non-GAAP - Net Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Net Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Net Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Net Income (Loss)** | **Reconciliation of GAAP to Non-GAAP - Net Income (Loss)** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Net Income (Loss) - GAAP | $**1363**  | $(759)  | $**2661**  | $6429  |
| Transaction Costs | **-**  | -  | **540**  | -  |
| Oracle EnterpriseOne ERP Write-off | **-**  | -  | **-**  | 528  |
| Employee Retention Credit, net | **-**  | -  | **-**  | (1615)  |
| PPP Loan Forgiveness | **-**  | -  | **-**  | (4426)  |
| Net Income (Loss) - Non-GAAP | $**1363**  | $(759)  | $**3201**  | $916  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of GAAP to Non-GAAP - Diluted Earnings Per Share** | **Reconciliation of GAAP to Non-GAAP - Diluted Earnings Per Share** | **Reconciliation of GAAP to Non-GAAP - Diluted Earnings Per Share** | **Reconciliation of GAAP to Non-GAAP - Diluted Earnings Per Share** | **Reconciliation of GAAP to Non-GAAP - Diluted Earnings Per Share** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Diluted Earnings Per Share - GAAP | $**0.18**  | $(0.10)  | $**0.36**  | $0.88  |
| Transaction Costs | **-**  | -  | **0.07**  | -  |
| Oracle EnterpriseOne ERP Write-off | **-**  | -  | **-**  | 0.07  |
| Employee Retention Credit, net | **-**  | -  | **-**  | (0.22)  |
| PPP Loan Forgiveness | **-**  | -  | **-**  | (0.60)  |
| Diluted Earnings Per Share - Non-GAAP | $**0.18**  | $(0.10)  | $**0.43**  | $0.12  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of Net Income (Loss) to EBITDA** | **Reconciliation of Net Income (Loss) to EBITDA** | **Reconciliation of Net Income (Loss) to EBITDA** | **Reconciliation of Net Income (Loss) to EBITDA** | **Reconciliation of Net Income (Loss) to EBITDA** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Net Income (Loss) - GAAP | $**1363**  | $(759)  | $**2661**  | $6429  |
| Interest Expense | **592**  | 150  | **1678**  | 675  |
| Income Tax Expense (Provision) | **367**  | 308  | **749**  | 605  |
| Depreciation/Amortization | **1223**  | 926  | **3960**  | 3996  |
| EBITDA | $**3545**  | $625  | $**9048**  | $11705  |
| Net Income - Employee Retention Credit | **-**  | -  | **-**  | (1615)  |
| Net Income - PPP Loan Forgiveness | **-**  | -  | **-**  | (4426)  |
| Net Income - Oracle EnterpriseOne ERP Write-off | **-**  | -  | **-**  | 528  |
| Net Income - Transaction Costs | **-**  | -  | **540**  | -  |
| Income Tax Expense - Employee Retention Credit | **-**  | -  | **-**  | (515)  |
| Income Tax Expense - PPP Loan Forgiveness | **-**  | -  | **-**  | (40)  |
| Income Tax Expense - Oracle EnterpriseOne ERP Write-off |  | -  | **-**  | 168  |
| Income Tax Expense - Transaction Costs | **-**  | -  | **176**  | -  |
| EBITDA | $**3545**  | $625  | $**9764**  | $5805  |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of Net Income (Loss) to Adjusted EBITDA** | **Reconciliation of Net Income (Loss) to Adjusted EBITDA** | **Reconciliation of Net Income (Loss) to Adjusted EBITDA** | **Reconciliation of Net Income (Loss) to Adjusted EBITDA** | **Reconciliation of Net Income (Loss) to Adjusted EBITDA** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | Three Months Ended | Three Months Ended | Twelve Months Ended | Twelve Months Ended |
|  | **January 31, 2023** | January 31, 2022 | **January 31, 2023** | January 31, 2022 |
| Net Income (Loss) - GAAP | $**1363**  | $(759)  | $**2661**  | $6429  |
| Interest Expense | **592**  | 150  | **1678**  | 675  |
| Income Tax (Provision) Expense | **367**  | 308  | **749**  | 605  |
| Depreciation/Amortization | **1223**  | 926  | **3960**  | 3996  |
| Share-Based Compensation | **314**  | 148  | **1291**  | 1493  |
| Adjusted EBITDA | $**3859**  | $773  | $**10339**  | $13198  |
| Net Income - Employee Retention Credit | **-**  | -  | **-**  | (1615)  |
| Net Income - PPP Loan Forgiveness | **-**  | -  | **-**  | (4426)  |
| Net Income - Oracle EnterpriseOne ERP Write-off | **-**  | -  | **-**  | 528  |
| Net Income - Transaction Costs | **-**  | -  | **540**  | -  |
| Income Tax Expense - Employee Retention Credit | **-**  | -  | **-**  | (515)  |
| Income Tax Expense - PPP Loan Forgiveness | **-**  | -  | **-**  | (40)  |
| Income Tax Expense - Oracle EnterpriseOne ERP Write-off | **-**  | -  | **-**  | 168  |
| Income Tax Expense - Transaction Costs | **-**  | -  | **176**  | -  |
| Adjusted EBITDA | $**3859**  | $773  | $**11055**  | $7298  |

---

------

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** | **ASTRONOVA, INC.** |
| **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** | **Reconciliation of Segment GAAP to Non-GAAP Operating Income (Loss)** |
| **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** | **Amounts in Thousands** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
|  | <u>Three Months Ended</u> | <u>Three Months Ended</u> | <u>Three Months Ended</u> | <u>Three Months Ended</u> | <u>Three Months Ended</u> | <u>Three Months Ended</u> | <u>Twelve Months Ended</u> | <u>Twelve Months Ended</u> | <u>Twelve Months Ended</u> | <u>Twelve Months Ended</u> | <u>Twelve Months Ended</u> | <u>Twelve Months Ended</u> |
|  | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | January 31, 2022 | January 31, 2022 | January 31, 2022 | **January 31, 2023** | **January 31, 2023** | **January 31, 2023** | January 31, 2022 | January 31, 2022 | January 31, 2022 |
|  | **Product Identification** | **Test & Measurement** | **Total** | Product Identification | Test & Measurement | Total | **Product Identification** | **Test & Measurement** | **Total** | Product Identification | Test & Measurement | Total |
| Segment Operating Profit (Loss) - GAAP | $**1869**  | $**3206**  | $**5075**  | $1460  | $495  | $1955  | $**7889**  | $**8989**  | $**16878**  | $10411  | $3398  | $13809  |
| Employee Retention Credit, net | **-**  | **-**  | **-**  | -  | -  | -  | -  | -  | -  | (1430)  | (802)  | (2232)  |
| Segment Operating Profit - Non-GAAP | $**1869**  | $**3206**  | $**5075**  | $1460  | $495  | $1955  | $**7889**  | $**8989**  | $**16878**  | $8982  | $2596  | $11578  |

---

## Contacts
Scott Solomon <br> Senior Vice President <br> Sharon Merrill Associates, Inc. <br> (857) 383-2409 <br> ALOT@investorrelations.com