WEST WARWICK, R.I.--(BUSINESS WIRE)--AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today provided an update on the impact of the COVID-19 pandemic on business operations and on steps taken to improve the Company’s liquidity position.

“Throughout this unprecedented period, we have maintained production in our essential manufacturing operations while keeping the health and safety of our employees, customers, suppliers and communities at the forefront of our attention,” said President and CEO Greg Woods. “We took swift action to shift a significant number of our global team to working remotely while enhancing our cleaning and protection procedures at our production facilities to keep our team members safe. We are extremely proud of our employees, whose dedication and commitment have helped ensure we continue to successfully meet the on-going needs of our customers, many of whom are providing essential services.”

Cost Reductions and Liquidity Actions

AstroNova has taken several measures globally to reduce the financial impact of the COVID-19 pandemic and preserve and improve liquidity during this time of significant uncertainty. These include:

• Executive and employee compensation has been frozen across the board at 2019 levels, and management continues to reduce operational expenses,
• Application for and receipt of a $4.4 million Small Business Administration’s Paycheck Protection Program loan, to help sustain a skilled workforce able to meet customers’ needs, and
• Suspension of the Company’s dividend.

The Company plans to issue its first-quarter fiscal 2021 financial results and host a conference call for investors in June 2020, the dates and details for which will be provided in a subsequent press release.

About AstroNova

AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes, and services a broad range of products that acquire, store, analyze, and present data in multiple formats.