<p>AstroNova（ALOT -11.74%）报告了 2026 财年第二季度同比下降 10.9% 的收入，管理层强调了领导层变动、销售流程重组以及在产品识别和航空航天领域的战略转变。该摘要突出了关键的管理举措、运营挑战以及基于最新财报电话会议的短期财务展望。</p>
<h2>AstroNova 重组销售以实现产品识别的转机</h2>
<p><strong>AstroNova</strong>（ALOT -11.74%）的产品识别（PI）部门经历了同比下降 8.9% 的收入，主要由于客户流失和 260 万美元的重复供应、零件和服务收入下降。新的打印解决方案，包括 QL 425、QL 435 和升级版的 Emtek 800 型号，于 7 月和 8 月推出，但尚未对收入产生显著贡献。</p>
<blockquote>
<p>&#34;我将销售团队重组为两个团队：客户获取和客户保留。这使我们重新聚焦于照顾现有客户和赢回失去的客户，同时获取新客户。我们还在努力改变销售团队的技能，以与我们的新产品相匹配。我们现在提供的新打印解决方案，尤其是显著更大且更高价值的打印解决方案，是客户的资本项目。这与我们过去销售传统桌面打印机的方式截然不同。销售周期更长，客户的需求更具体。我们在新的市场进入策略上取得了进展，并相信结果将在接下来的几个季度开始显现。&#34;</p>
<p>-- Yorek Itmann，首席执行官</p>
</blockquote>
<p>这种向双重、以客户为中心的销售结构的转变标志着商业执行的根本变化，但在客户保留率和高价值硬件销售稳定之前，短期财务风险仍然较高。</p>
<h2>航空航天部门面临量和结构压力</h2>
<p>航空航天部门的收入同比下降 15.1%，主要受到与去年非经常性出货量的艰难比较以及 140 万美元（或 37%）的部门营业收入下降的影响。ToughRider 640 飞行甲板打印机的生产于 6 月开始，代表了部门出货量的一半，管理层目标是在接下来的几个季度实现超过 80% 的采用率，并强调由于商用飞机的生产率，长期需求稳定。</p>
<blockquote>
<p>&#34;在本季度，我们开始向一家主要的飞机原始设备制造商（OEM）发货 ToughRider 640。因此，ToughRider 占第二季度出货量的 50%，并仍在朝着超过 80% 的目标前进。该部门 45% 的收入来自售后销售和服务，约 10% 的硬件销售依赖于备件替换机器。然而，对于新建飞机，我们看好商用飞机生产率增长带来的长期顺风。&#34;</p>
<p>-- Yorek Itmann，首席执行官</p>
</blockquote>
<p>ToughRider 产品的份额增加以及对售后销售的显著依赖增强了中期收入的可见性，但对新建活动和高备件需求的依赖使业务面临与航空航天行业相关的周期性风险。</p>
<h2>债务重组和现金管理支持转机</h2>
<p>截至 2025 年 7 月 31 日，AstroNova 在上半年偿还了 510 万美元的债务，现金和总流动性为 1040 万美元，杠杆比率为 3.5 倍的融资债务与调整后的 EBITDA。银行对固定费用覆盖比率给予了豁免，债务重组讨论正在进行中，预计将在 60 天内完成。</p>
<blockquote>
<p>&#34;银行对第二季度的固定费用覆盖比率给予了豁免，我们正在讨论债务重组，预计将在接下来的六十天内完成。我们对产品识别的转机和航空航天部门的持续推进的目标是，在合并基础上实现销售增长、推动产品盈利、产生现金并偿还债务。&#34;</p>
<p>-- Thomas DeByle，首席财务官</p>
</blockquote>
<p>改善现金管理和主动的债务管理对于支持 AstroNova 的转机战略和为持续的运营变革提供财务灵活性至关重要。</p>
<h2>展望未来</h2>
<p>管理层将改善利润率和客户保留率作为关键里程碑。2026 财年的订单同比持平，为 3590 万美元，而公司积压订单同比下降 460 万美元至 2530 万美元。没有提供明确的定量前瞻指引，但管理层强调预计在 2028 财年，由于霍尼韦尔特许权协议的到期，将带来利润率的好处，并表示新打印平台的有效性将在接下来的几个月内变得清晰。</p>

ALOT

<p>AstroNova (ALOT) 在 2026 财年第二季度报告了 10.9% 的收入下降，原因是领导层变动和销售流程重组。产品识别部门由于客户流失出现了 8.9% 的下降，而航空航天部门则面临 15.1% 的下降。公司正专注于客户获取和保留，推出新的打印解决方案，并重组债务。管理层旨在改善利润率和客户保留，预计在未来几个季度会有更好的业绩，尽管短期财务风险仍然较高</p>

<p>AstroNova (ALOT -11.74%) reported a 10.9% year-over-year revenue decline for the second quarter of fiscal 2026, with management emphasizing leadership changes, sales process restructuring, and strategic shifts in both product identification and aerospace segments. This summary highlights key management initiatives, operational challenges, and the near-term financial outlook based on the latest earnings call.</p>
<div class="lb-trans"><p>AstroNova（ALOT -11.74%）报告了 2026 财年第二季度同比下降 10.9% 的收入，管理层强调了领导层变动、销售流程重组以及在产品识别和航空航天领域的战略转变。该摘要突出了关键的管理举措、运营挑战以及基于最新财报电话会议的短期财务展望。</p>
</div><h2>AstroNova restructures sales for product ID turnaround</h2>
<div class="lb-trans"><h2>AstroNova 重组销售以实现产品识别的转机</h2>
</div><p>The <strong>AstroNova</strong>(ALOT -11.74%) product identification (PI) segment experienced an 8.9% year-over-year revenue decline, primarily due to customer attrition and a $2.6 million drop in recurring supplies, parts, and service. New print solutions, including the QL 425, QL 435, and an upgraded Emtek-based 800 model, were launched in July and August, but have not yet contributed meaningfully to revenue.</p>
<div class="lb-trans"><p><strong>AstroNova</strong>（ALOT -11.74%）的产品识别（PI）部门经历了同比下降 8.9% 的收入，主要由于客户流失和 260 万美元的重复供应、零件和服务收入下降。新的打印解决方案，包括 QL 425、QL 435 和升级版的 Emtek 800 型号，于 7 月和 8 月推出，但尚未对收入产生显著贡献。</p>
</div><blockquote>
<p>&#34;I reorganized sales into two teams: customer acquisition and customer retention. This reorients our focus on taking care of our current customers and winning back those we have lost while gaining new customers. Also working to change the skills of our sales team to align with our new product offerings. Our new print solutions, especially the significantly larger and higher value print solutions, we're now offering are capital projects for our customers. This is a very different sales process from how we have sold our legacy tabletop printers. The sales cycle is longer, and customers' needs are more specific. We've been making progress with our new go-to-market strategy and believe results will begin to demonstrate it over the next several quarters.&#34;</p>
<p>-- Yorek Itmann, President and Chief Executive Officer</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>&#34;我将销售团队重组为两个团队：客户获取和客户保留。这使我们重新聚焦于照顾现有客户和赢回失去的客户，同时获取新客户。我们还在努力改变销售团队的技能，以与我们的新产品相匹配。我们现在提供的新打印解决方案，尤其是显著更大且更高价值的打印解决方案，是客户的资本项目。这与我们过去销售传统桌面打印机的方式截然不同。销售周期更长，客户的需求更具体。我们在新的市场进入策略上取得了进展，并相信结果将在接下来的几个季度开始显现。&#34;</p>
<p>-- Yorek Itmann，首席执行官</p>
</blockquote>
</div><p>This shift to a bifurcated, customer-focused sales structure marks a fundamental change in commercial execution, but near-term financial risk remains elevated until customer retention rates and sales from higher-value hardware stabilize.</p>
<div class="lb-trans"><p>这种向双重、以客户为中心的销售结构的转变标志着商业执行的根本变化，但在客户保留率和高价值硬件销售稳定之前，短期财务风险仍然较高。</p>
</div><h2>Aerospace segment faces volume and mix pressures</h2>
<div class="lb-trans"><h2>航空航天部门面临量和结构压力</h2>
</div><p>The aerospace segment saw a 15.1% year-over-year revenue decline, driven by a difficult comparison with the prior year’s nonrecurring shipments and a $1.4 million, or 37%, drop in segment operating income. The ToughRider 640 flight deck printer ramp began in June, representing half of segment shipments, with management targeting over 80% adoption in upcoming quarters and highlighting stable long-term demand due to commercial aircraft build rates.</p>
<div class="lb-trans"><p>航空航天部门的收入同比下降 15.1%，主要受到与去年非经常性出货量的艰难比较以及 140 万美元（或 37%）的部门营业收入下降的影响。ToughRider 640 飞行甲板打印机的生产于 6 月开始，代表了部门出货量的一半，管理层目标是在接下来的几个季度实现超过 80% 的采用率，并强调由于商用飞机的生产率，长期需求稳定。</p>
</div><blockquote>
<p>&#34;During the quarter, we began shipping the ToughRider 640 to a major aircraft OEM. As a result, the ToughRider represented 50% of second-quarter shipments and remains on track to reach our target of over 80%. Forty-five percent of the segment's revenue is for aftermarket sales and service, and roughly 10% of hardware sales are dependent upon spare replacement machines. However, for new build aircraft, we like the long-term tailwind provided by growth in commercial aircraft build rates.&#34;</p>
<p>-- Yorek Itmann, President and Chief Executive Officer</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>&#34;在本季度，我们开始向一家主要的飞机原始设备制造商（OEM）发货 ToughRider 640。因此，ToughRider 占第二季度出货量的 50%，并仍在朝着超过 80% 的目标前进。该部门 45% 的收入来自售后销售和服务，约 10% 的硬件销售依赖于备件替换机器。然而，对于新建飞机，我们看好商用飞机生产率增长带来的长期顺风。&#34;</p>
<p>-- Yorek Itmann，首席执行官</p>
</blockquote>
</div><p>The increasing share of ToughRider products and substantial exposure to aftermarket sales reinforce medium-term revenue visibility, but reliance on new build activity and high spare part demand exposes the business to cyclical risks linked to the aerospace industry.</p>
<div class="lb-trans"><p>ToughRider 产品的份额增加以及对售后销售的显著依赖增强了中期收入的可见性，但对新建活动和高备件需求的依赖使业务面临与航空航天行业相关的周期性风险。</p>
</div><h2>Debt restructuring and cash discipline support turnaround</h2>
<div class="lb-trans"><h2>债务重组和现金管理支持转机</h2>
</div><p>AstroNova paid down $5.1 million in debt in the first half of the year, with cash and total liquidity at $10.4 million as of July 31, 2025, and a leverage ratio of 3.5 times funded debt to adjusted EBITDA. The bank granted a waiver on the fixed charge coverage ratio, and debt restructuring discussions are underway, expected to conclude within 60 days.</p>
<div class="lb-trans"><p>截至 2025 年 7 月 31 日，AstroNova 在上半年偿还了 510 万美元的债务，现金和总流动性为 1040 万美元，杠杆比率为 3.5 倍的融资债务与调整后的 EBITDA。银行对固定费用覆盖比率给予了豁免，债务重组讨论正在进行中，预计将在 60 天内完成。</p>
</div><blockquote>
<p>&#34;The bank waived our fixed charge coverage ratio for the second quarter, and we are in discussions regarding restructuring of our debt, which we expect to have completed in the next sixty days. Our objective with the turnaround of product ID and continued advancement of the aerospace segment is on a consolidated basis to grow sales, drive product profitability, generate cash, and pay down debt.&#34;</p>
<p>-- Thomas DeByle, Chief Financial Officer</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>&#34;银行对第二季度的固定费用覆盖比率给予了豁免，我们正在讨论债务重组，预计将在接下来的六十天内完成。我们对产品识别的转机和航空航天部门的持续推进的目标是，在合并基础上实现销售增长、推动产品盈利、产生现金并偿还债务。&#34;</p>
<p>-- Thomas DeByle，首席财务官</p>
</blockquote>
</div><p>Improved cash discipline and proactive debt management are critical to supporting AstroNova’s turnaround strategy and providing financial flexibility for ongoing operational changes.</p>
<div class="lb-trans"><p>改善现金管理和主动的债务管理对于支持 AstroNova 的转机战略和为持续的运营变革提供财务灵活性至关重要。</p>
</div><h2>Looking Ahead</h2>
<div class="lb-trans"><h2>展望未来</h2>
</div><p>Management is targeting improvements in both margins and customer retention as key milestones. Orders for fiscal year 2026 were flat year over year at $35.9 million, while company backlog declined $4.6 million year over year to $25.3 million. No explicit quantitative forward guidance was provided, but management highlighted expected margin benefits in fiscal 2028 from the expiration of a Honeywell royalty agreement and indicated that the effectiveness of new printer platforms will become clear within the next few months.</p>
<div class="lb-trans"><p>管理层将改善利润率和客户保留率作为关键里程碑。2026 财年的订单同比持平，为 3590 万美元，而公司积压订单同比下降 460 万美元至 2530 万美元。没有提供明确的定量前瞻指引，但管理层强调预计在 2028 财年，由于霍尼韦尔特许权协议的到期，将带来利润率的好处，并表示新打印平台的有效性将在接下来的几个月内变得清晰。</p>
</div>

AstroNova 的销售额在重组过程中出现下滑