Exhibit 99.1

For more information contact:
David C. Burney, Chief Financial Officer		Deborah K. Pawlowski
Phone: (716) 805-1599, ext. 159		Kei Advisors LLC
Fax: (716) 805-1286		Phone: (716) 843-3908
Email: david.burney@astronics.com		Email: dpawlowski@keiadvisors.com

FOR IMMEDIATE RELEASE

•

Second quarter 2008 diluted earnings per share was $0.60, up 13.2%

•

Second quarter 2008 sales reached record $47.9 million

•

Full-year revenue guidance increased from $170 million to $175 to $185 million

EAST AURORA, NY, August 1, 2008 — Astronics Corporation (NASDAQ: ATRO), a trusted leader in innovative, high performance lighting, power generation, control and distribution systems for the global aerospace industry, today reported sales of $47.9 million in the second quarter of 2008, which ended June 28, 2008, a 15.8% increase compared with sales of $41.4 million in the second quarter of 2007. Net income grew 13.3% to $5.1 million compared with $4.5 million in the same period the prior year. On a diluted per share basis, net income increased 13.2% to $0.60 in the 2008 second quarter from $0.53 in the prior year’s second quarter.

Strong sales of airframe power, exterior and cockpit lighting to the military and business jet sectors drove the quarter-over-quarter increase in sales, while sales of cabin electronics for commercial transports remained relatively flat. Sales to the business jet market increased 55% to $10.2 million in the second quarter of 2008 compared with $6.6 million in the second quarter of 2007 driven by higher aircraft build rates and incremental content on new aircraft. Military sales were up 32% to $8.9 million compared with $6.8 million in the second quarter of 2007 as volume related to both new build aircraft and military spares increased. Sales to the commercial transport market were $28.5 million in the second quarter of 2008, a 3% increase compared with $27.7 million in the second quarter of 2007.

Peter J. Gundermann, President and Chief Executive Officer of Astronics, commented, “While we set an all-time record for shipments in the quarter, the level of orders received was even stronger,

allowing us to raise our revenue forecast for the year to $175 to $185 million. Despite well publicized macro-economic challenges, demand for our products has remained very strong.”

Operating Results

Gross profit was $12.1 million, or 25.3% of sales, in the second quarter of 2008 compared with $11.4 million, or 27.6% of sales, in the second quarter of 2007. Higher gross profit on an absolute basis was a result of operating leverage gained on the higher sales volume, while the reduction in margin percentage reflects higher engineering and development (E&D) spending in the quarter, increased infrastructure cost related to the Company’s growth and product mix. E&D expense, which is included in cost of goods sold, was $5.8 million in the second quarter of 2008 compared with $3.6 million in the same period the prior year. E&D expense is expected to be approximately $20 million to $22 million for 2008. The Company invests in E&D as it has opportunities to develop product for new aircraft in the design phase and to advance the technologies of its current products for customers.

Selling, general and administrative (SG&A) expense was $4.3 million, or 9.0% of sales, in the second quarter of 2008, down slightly compared with $4.4 million, or 10.6% of sales, in the same period the prior year. The operating margin for the second quarter of 2008 was 16.3% compared with 17.0% in the same period the prior year as a result of the lower gross margin somewhat offset by operating leverage gained on the SG&A expenses.

Mr. Gundermann noted, “Over the last several years, we have successfully increased the amount of content value we can offer new aircraft platforms. This is driving much of our growth today. Importantly, we continue to invest in engineering and development to develop the products of tomorrow, so we are included in the aircraft of the future. The investments we make now on new products and platforms, which may not enter into production for several years, will be the foundation of our future growth.”

Six-Month Review

For the first six months of 2008, sales were $89.0 million, a 5.6% increase compared with $84.2 million in the first half of 2007. Gross margin was 23.2% for the first six months of 2008 compared with 27.4% in the same period the prior year down primarily due to higher E&D expense, product mix and increased infrastructure costs. E&D expense for the first six months of 2008 was $10.9 million compared with $7.2 million in the first half of 2007.

SG&A expense was $8.5 million, or 9.6% of sales, in the first six months of 2008 compared with $8.7 million, or 10.3% of sales, in the same period the prior year reflecting greater leverage on the higher sales volume. Operating margin for the first half of 2008 was 13.6%, a decrease compared with 17.1% in the first half of 2007 reflecting lower gross margins.

Net income for the first six months of 2008 was $7.8 million, or $0.91 per diluted share, compared with $9.2 million, or $1.08 per diluted share, in the same period the prior year.

Liquidity and Capital Expenditures

Cash and cash equivalents were $2.2 million at June 28, 2008 compared with $2.8 million at December 31, 2007. The Company has a $60 million line of credit of which $57 million was available at the end of the second quarter.

Capital expenditures in the second quarter of 2008 were $1.1 million compared with $2.9 million in the second quarter of 2007. For the six-month periods, capital expenditures were $2.1 million and $5.9 million in 2008 and 2007, respectively. Higher expenditures in 2007 reflected the Company’s

investment in machinery and equipment to increase production capabilities and support facility expansions. Capital expenditures are expected to be approximately $6 million to $8 million for 2008.

Outlook

Orders in the second quarter of 2008 were $52.4 million, a 35.3% increase compared with orders of $38.7 million in the second quarter of 2007, and were also up 14.3% compared with the first quarter of 2008. At June 28, 2008, record backlog was $101.6 million, up from backlog of $94.3 million at the end of the second quarter of 2007 and $97.1 million at the end of the first quarter of 2008.

Mr. Gundermann concluded, “Concerns about the impact of expensive oil and weakening economic conditions on the aerospace industry are well documented. While these threats are certainly real, we continue to see strong business conditions across our customer base. Most aircraft manufacturers have backlogs that will last many years, and the pockets of weakness that exist are more than offset by strong demand elsewhere. We expect the rest of 2008 to be very good for Astronics.”

Second Quarter 2008 Webcast and Conference Call

The Company will host a teleconference at 11 a.m. ET today. During the teleconference, Peter J. Gundermann, President and CEO, and David C. Burney, Vice President and CFO, will review the financial and operating results for the period and discuss Astronics’ corporate strategy and outlook. A question-and-answer session will follow.

The Astronics conference call can be accessed the following ways:

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The live webcast can be found at http://www.astronics.com. Participants should go to the website 10 - 15 minutes prior to the scheduled conference in order to register and download any necessary audio software.

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The teleconference can be accessed by dialing (201) 689-8562 and requesting conference ID number 290454 approximately 5 - 10 minutes prior to the call.

To listen to the archived call:

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The archived webcast will be at http://www.astronics.com. A transcript will also be posted once available.

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A replay can also be heard by calling (201) 612-7415 and referencing account number 3055 and conference ID number 290454.

The telephonic replay will be available from 2 p.m. ET the day of the call through 11:59 p.m. ET on August 8, 2008.

Safe Harbor Statement

FINANCIAL TABLES FOLLOW.

ASTRONICS CORPORATION
CONSOLIDATED INCOME STATEMENT DATA
(unaudited)

(in thousands except per share data)

		Three months ended								Six months ended
		6/28/2008				6/30/2007				6/28/2008				6/30/2007
Sales		$	47,889			$	41,368			$	88,978			$	84,243
Cost of products sold			35,766				29,933				68,356				61,158
Gross profit			12,123				11,435				20,622				23,085
Gross margin			25.3	%			27.6	%			23.2	%			27.4	%
Selling general and administrative			4,313				4,404				8,522				8,680
Income from operations			7,810				7,031				12,100				14,405
Operating margin			16.3	%			17.0	%			13.6	%			17.1	%
Interest expense, net			167				380				372				676
Other (income) expense			(2	)			(3	)			13				(11	)
Income before tax			7,645				6,654				11,715				13,740
Income taxes			2,529				2,153				3,952				4,544
Net Income		$	5,116			$	4,501			$	7,763			$	9,196
Basic earnings per share:		$	0.63			$	0.56			$	0.95			$	1.14
Diluted earnings per share:		$	0.60			$	0.53			$	0.91			$	1.08
Weighted average diluted shares outstanding			8,493				8,535				8,543				8,494
Capital Expenditures		$	1,119			$	2,872			$	2,130			$	5,917
Depreciation and Amortization		$	1,009			$	801			$	2,009			$	1,571

ASTRONICS CORPORATION
ORDERS AND BACKLOG TREND

($, in thousands)

		2007																				2008
		Q1 2007				Q2 2007				Q3 2007				Q4 2007				Twelve Months				Q1 2008				Q2 2008
		3/31/07				6/30/07				9/29/07				12/31/07				12/31/07				3/29/08				6/28/08
Sales		$	42,875			$	41,368			$	37,724			$	36,273			$	158,240			$	41,089			$	47,889
Net Income		$	4,695			$	4,501			$	4,126			$	2,069			$	15,391			$	2,647			$	5,116
Orders		$	40,351			$	38,711			$	33,347			$	38,712			$	151,121			$	45,830			$	52,386
Backlog		$	97,003			$	94,346			$	89,969			$	92,408			$	92,408			$	97,149			$	101,646
Book:Bill			0.94				0.94				0.88				1.07				0.96				1.12				1.09

ASTRONICS CORPORATION
CONSOLIDATED BALANCE SHEET DATA
(unaudited)

(in thousands)

		6/28/2008				12/31/2007
ASSETS:
Cash and cash equivalents		$	2,227			$	2,818
Accounts receivable			29,567				20,720
Inventories			37,645				36,920
Other current assets			2,970				3,563
Property, plant and equipment, net			30,433				30,083
Other assets			9,279				10,017
Total Assets		$	112,121			$	104,121
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current maturities of long term debt		$	948			$	951
Note payable			3,000				7,300
Accounts payable and accrued expenses			27,858				23,670
Long-term debt			14,175				14,684
Other liabilities			8,284				8,284
Shareholders’ equity			57,856				49,232
Total liabilities and shareholders’ equity		$	112,121			$	104,121

ASTRONICS CORPORATION
SALES BY MARKET
($, in thousands)

		Three Months Ended												Six Months Ended
										%												%				2008
		6/28/2008				6/30/2007				change				6/28/2008				6/30/2007				change				YTD %
Commercial Transport		$28,488				$	27,717				3	%		$	52,108			$	56,317				-7	%			58	%
Military			8,910				6,766				32	%			16,669				12,964				29	%			19	%
Business Jet			10,200				6,575				55	%			19,635				14,327				37	%			22	%
Other			291				310				-6	%			566				635				-11	%			1	%
Total		$	47,889			$	41,368				16	%		$	88,978			$	84,243				6	%			100	%

ASTRONICS CORPORATION
SALES BY PRODUCT
($, in thousands)

		Three Months Ended												Six Months Ended
										%												%				2008
		6/28/2008				6/30/2007				change				6/28/2008				6/30/2007				change				YTD %
Cabin Electronics		$	23,395			$	24,220				-3	%		$	42,870			$	46,752				-8	%			48	%
Cockpit Lighting			11,785				8,939				32	%			22,990				17,013				35	%			26	%
Airframe Power			7,143				3,663				95	%			12,324				11,283				9	%			14	%
Exterior Lighting			3,002				1,830				64	%			5,818				4,085				42	%			6	%
Cabin Lighting			2,273				2,406				-6	%			4,410				4,475				-1	%			5	%
Other			291				310				-6	%			566				635				-11	%			1	%
Total		$	47,889			$	41,368				16	%		$	88,978			$	84,243				6	%			100	%