SOURCE: Astro-Med, Inc.

March 27, 2007 18:05 ET

Astro-Med Reports Record Fourth Quarter and Annual Sales; Directors Declare Regular Cash Dividend

WEST WARWICK, RI -- (MARKET WIRE) -- March 27, 2007 -- Astro-Med, Inc. (NASDAQ: ALOT) reports net income of $799,000, equal to 11 cents per diluted share, on record sales of $17,568,000 for the Fourth Quarter ended January 31, 2007. Net income in the quarter includes an expense of approximately $92,000 after tax, equal to 1 cent per diluted share for stock-based compensation. During the corresponding period of the previous year, the Company reported net income of $856,000, equal to 12 cents per diluted share, on sales of $16,005,000.

During the Twelve-Month Period of the fiscal year, net income was $6,059,000, equal to 82 cents per diluted share, on sales of $65,519,000. Net income for the twelve-month period includes an expense of approximately $358,000, after tax, equal to 5 cents per diluted share, for stock-based compensation, as well as $231,000, or 3 cents per diluted share, related to favorable adjustments identified in the filing of the prior year tax return. For the corresponding period last year, the Company reported net income of $2,551,000, equal to 35 cents per diluted share, on sales of $59,301,000. Net income in the prior fiscal year includes $361,000, equal to 5 cents per diluted share, for a tax related benefit associated with the favorable resolution of certain income tax examinations reported in the FY 2006 Third Quarter.

Commenting on the results, Albert W. Ondis, Chief Executive Officer, stated: "We are very pleased with the Company's Fourth Quarter and annual financial results for FY 2007. Sales in the Quarter were at a record level of $17,568,000, up 9.8% from the prior year, while sales for the year also reached record levels of $65,519,000, up 10.5% from the previous year."

Ondis noted, "All the Company's product groups reported growth over the previous year. Domestic sales were especially strong at $47,504,000, up 14.7%. Export sales amounted to $18,015,000, up 1.0% from the prior year and favorable foreign currency exchange contributed $304,000 to export revenue for the year. New orders in the Fourth Quarter totaled $16,460,000 which raised our orders received for the year to $66,768,000, an increase of 7.9%." Ondis continued, "Our balance sheet remains solid with a current ratio of 4.5 to 1, $20,130,000 in cash and marketable securities, no debt, and a current year 22.0% return on shareholders equity excluding cash and marketable securities."

Looking ahead, Ondis said, "With some exciting new products about to be introduced, and with strong, positive signals from our international customer base, we are very optimistic that we will realize our planned growth and profitability goals for FY08."

On March 7, 2007, the Directors of Astro-Med declared a quarterly cash dividend of 5 cents per share payable on April 2, 2007 to shareholders of record on March 23, 2007.

Astro-Med's Fourth Quarter conference call will be held on Wednesday, March 28, 2007 at 11:00 AM EDT. It will be broadcast in real time on the Internet through the Investor Relations portion of our website at www.astro-medinc.com. We invite you to log on and listen in on March 28, 2007, or access the broadcast any time for up to 5 days following the event.

Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications.



                              ASTRO-MED, INC.

                   Consolidated Statement of Operations
                  In Thousands Except for Per Share Data



                                    Three-Months Ended  Twelve-Months Ended
                                    January   January   January   January
                                    31, 2007  31, 2006  31, 2007  31, 2006
                                    --------  --------  --------  --------

Net Sales                           $ 17,568  $ 16,005  $ 65,519  $ 59,301

Gross Profit                           7,299     6,855    26,997    24,658
                                        41.5%     42.8%     41.2%     41.6%
Operating Expenses:
   Selling, General & Administrative   4,956     4,489    19,321    17,460
   Research & Development              1,210     1,111     4,187     4,043
                                    --------  --------  --------  --------
                                       6,166     5,600    23,508    21,503
Gain on Sale of Real Estate, Net          --        --     5,252        --
                                    --------  --------  --------  --------
Operating Income                       1,133     1,255     8,741     3,155
                                         6.4%      7.8%     13.3%      5.3%

Other, Net                               194        31       884       247
                                    --------  --------  --------  --------

Income Before Taxes                    1,327     1,286     9,625     3,402

Income Tax (Provision)                  (528)     (430)   (3,566)     (851)
                                    --------  --------  --------  --------

Net income                          $    799  $    856  $  6,059  $  2,551
                                    ========  ========  ========  ========

Net income Per Share - Basic        $   0.12  $   0.13  $   0.90  $   0.39
                                    ========  ========  ========  ========
Net income Per Share - Diluted      $   0.11  $   0.12  $   0.82  $   0.35
                                    ========  ========  ========  ========

Weighted Average Number of Common
 Shares  - Basic                       6,748     6,642     6,721     6,614
Weighted Average Number of Common
 Shares  - Diluted                     7,418     7,295     7,389     7,233

Dividends Declared Per Common Share $   0.05  $   0.03  $   0.20  $   0.13



                        Selected Balance Sheet Data
                               In Thousands


                                                   As of          As of
                                                January 31,    January 31,
                                                    2007           2006
                                                ------------   ------------
Cash & Marketable Securities                    $     20,130   $     14,724

Current Assets                                        44,168         39,662

Total Assets                                          58,001         49,647

Current Liabilities                                    9,874          8,440

Shareholders’ Equity                            $     45,958   $     40,302



Safe Harbor Statement

This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2006 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

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