Astronics and SmartTray International Team-Up to Provide Airline Passengers With a Hands-Free Solution to View Personal Electronic Devices
EAST AURORA, N.Y., April 7, 2015 (GLOBE NEWSWIRE) -- Astronics Corporation (Nasdaq:ATRO), a leading provider of advanced technologies for the global aerospace and defense industries, announced today that it has entered into an agreement with SmartTray International, LLC to exclusively market, sell, and manufacture SmartTray's new passenger device-friendly aircraft tray table solutions that facilitate hands-free use of portable electronic devices (PEDs) including smartphones. The tray tables offer air travelers superior ergonomics, better space management, and improved comfort and convenience over conventional tray tables.
"SmartTray's solutions are best-in-class and represent a strong opportunity for Astronics as they are complementary to our leading EmPower® aircraft in-seat power systems," said Pete Gundermann, CEO of Astronics. "With our existing industry relationships, proven track record of customer support, and portfolio of over 190 airline customers, Astronics is perfectly positioned to enhance the passenger experience by combining PED power and the convenience of an ergonomic tray table to manage passenger carry-on devices. Under this exclusive agreement, Astronics will deliver SmartTray's patented solutions to airlines and seat manufacturers globally, and airline passengers will enjoy the power and convenience they desire," added Mr. Gundermann.
"We could not be more proud to partner with Astronics," said Nick Pajic, CEO and Founder of SmartTray International. "With millions of air travelers using their mobile phones and electronic tablet devices on airplanes for work and entertainment, airline operators are in need of simple, practical, and cost effective solutions that make using and stowing PEDs inflight more convenient and easier. SmartTray products do exactly that," added Mr. Pajic.
SmartTray International, LLC, is an innovation leader and pioneer of proprietary, simple, practical, low cost, tablet device in-flight entertainment (IFE) platforms designed to greatly enhance travelers' experience and make the cabin safer for passengers and inflight crews. This innovation is capable of leveraging digital place-based media technology while bringing in-flight entertainment and Internet access right to air travelers' fingertips—without their ever having to reach overhead for their stowed tablet or other mobile device. SmartTray is privately owned. For more information, please visit www.thesmarttray.com.
ABOUT ASTRONICS CORPORATION
Astronics Corporation (Nasdaq:ATRO) is a leading supplier of products and technology to the aerospace, defense, consumer electronics and semiconductor industries. Astronics' products include advanced, high-performance electrical power generation and distribution systems, lighting and safety systems, avionics products, aircraft structures and automatic test and simulation systems. Astronics' strategy is to increase its value by developing technologies and capabilities, either internally or through acquisition, and using those capabilities to provide innovative solutions to its targeted markets and other markets where its technology can be beneficial. Astronics Corporation, through its wholly-owned subsidiaries, has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its website at www.astronics.com.
For more information on Astronics and its products, visit its website at: www.Astronics.com.
Safe Harbor Statement
This news 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 expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Important factors that could cause actual results to differ materially include the capabilities of the acquired company, achieving expected revenue levels, successfully leveraging complementary capabilities in the Test Systems segment, the state of the aerospace and defense industries, 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 news release whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
CONTACT: For more information: Product: Dennis Markert Director, Business Development Cabin Electronics (425) 895-4374 email@example.com Company: David C. Burney Chief Financial Officer (716) 805-1599, ext. 159 firstname.lastname@example.org Investor Relations: Deborah Pawlowski Kei Advisors LLC (716) 843-3908 email@example.com
Released April 7, 2015