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Astro-Med Reports Sales and Net Income in the Second Quarter; Directors Declare Regular Cash Dividend

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WEST WARWICK, RI--(Marketwire - August 18, 2009) - Astro-Med, Inc. (NASDAQ: ALOT) reports net
income of $585,000, equal to 8 cents per diluted share, on sales of
$16,416,000 for the Second Quarter ended August 1, 2009. The Company
reported net income of $1,154,000, equal to 15 cents per diluted share, on
sales of $19,784,000 for the comparable period of the prior year.
Unfavorable foreign exchange currency rates lowered this year's Second
Quarter sales by approximately $446,000, or 2.7%, when compared to the
previous year.

For the six months ended August 1, 2009, Astro-Med reported net income of
$354,000, equal to 5 cents per diluted share, on sales of $31,093,000.
During the comparable six-month period of the prior year, net income was
$2,051,000, equal to 27 cents per diluted share, on sales of $38,472,000.
Unfavorable foreign exchange currency rates reduced this year's six-month
sales by approximately $1,189,000, or 3.8%, as compared to the prior year.

The Company's balance sheet remains strong with a cash and marketable
securities position of $21,955,000, a current ratio of 7.0:1, and zero
debt.

Commenting on the results, Albert W. Ondis, Chief Executive Officer, said:
"We are quite pleased with our profitable Second Quarter results after the
recession-induced loss in the First Quarter. Our strong performance in the
quarter is the result of vigorous selling and marketing activities which
raised new customer orders by 16% and sales by 12% over the First Quarter,
combined with effective expense reduction and control.

"Although there are signs that our markets are recovering, and we expect to
report continued improvements as the year progresses, we will continue our
recession watch for the foreseeable future," Ondis continued.

Three-Year Strategic Plan Approved

Ondis stated, "On August 17, 2009 the Astro-Med board of directors approved
the new 'Three-Year Strategic Plan,' which was developed over a three-month
period during the quarter. Astro-Med, Inc. employees from all levels and
our branches in Canada and Europe participated in the development of the
plan which was overseen by the Board at a special meeting in June. The plan
calls for growth through internal development as well as by acquisition.
Consistent with the plan, we have maintained a high level of R&D activities
and we will soon announce some exciting new products which will contribute
to our growth. Our search for suitable acquisitions is underway and we will
make announcements as appropriate."

Astro-Med, Inc. Directors Declare Regular Cash Dividend

On August 17, 2009, the Directors of Astro-Med, Inc. declared the regular
quarterly cash dividend of $0.06 per share, payable on October 1, 2009 to
shareholders of record as of September 11, 2009.

Second Quarter Conference Call to be Held Wednesday, August 19, 2009

The Second Quarter conference call will be held on Wednesday, August 19,
2009, at 11:00 AM EDT. It will be broadcast in real time on the Internet
and will be available through the Investing section of our website. We
invite you to log on and listen in real time on August 19th or to
participate in the conference call by dialing 1-877-941-1466 and
referencing ID number 4116728. Following the live broadcast, a webcast of
the recorded call will be available for ten days at www.Astro-MedInc.com.

Astro-Med, Inc. Consolidated Statements of Operations
In Thousands Except for Per Share Data
(Unaudited)

Three-Months Ended Six-Months Ended
August 1, August 2, August 1, August 2,
2009 2008 2009 2008
--------- --------- --------- ---------
Net Sales $ 16,416 $ 19,784 $ 31,093 $ 38,472
Gross Profit 6,951 8,681 12,763 16,868
42.3% 43.9% 41.0% 43.8%
Operating Expenses:
Selling & Marketing 3,724 4,343 7,607 8,764
Research & Development 1,175 1,199 2,402 2,425
General & Administrative 1,166 1,210 2,328 2,456
--------- --------- --------- ---------
6,065 6,752 12,337 13,645

Operating Income 886 1,929 426 3,223
5.4% 9.7% 1.4% 8.4%

Other Income, Net 14 61 119 237
--------- --------- --------- ---------

Income Before Taxes 900 1,990 545 3,460

Income Tax Provision 315 836 191 1,409
--------- --------- --------- ---------

Net Income $ 585 $ 1,154 $ 354 $ 2,051
========= ========= ========= =========

Net Income Per Share - Basic $ 0.08 $ 0.16 $ 0.05 $ 0.29
========= ========= ========= =========
Net Income Per Share - Diluted $ 0.08 $ 0.15 $ 0.05 $ 0.27
========= ========= ========= =========

Weighted Average Number of
Common Shares - Basic 7,148 6,999 7,118 6,966
Weighted Average Number of
Common Shares - Diluted 7,343 7,523 7,316 7,482

Dividends Declared Per Common
Share $ 0.06 $ 0.06 $ 0.12 $ 0.12

Selected Balance Sheet Data
In Thousands
(Unaudited)

As of As of
August 1, January 31,
2009 2009
----------- -----------

Cash & Marketable
Securities(1) $ 21,955 $ 22,104

Current Assets $ 47,832 $ 48,023

Total Assets $ 61,678 $ 62,155

Current Liabilities $ 6,840 $ 7,904

Shareholders' Equity $ 52,001 $ 51,471

(1) Includes investment securities classified as non-current

About Astro-Med, Inc.

Astro-Med, Inc. is a leading manufacturer of specialty high tech specialty
printing systems, electronic medical instrumentation, and test and
measurement instruments. Astro-Med, Inc. products are sold under the brand
names Astro-Med®, Grass® Technologies, and QuickLabel® Systems, and
are employed around the world in a wide range of aerospace, medical,
military, industrial, and packaging applications. Astro-Med Inc. is a
member of the Russell Microcap® Index. Additional information is
available by visiting www.Astro-MedInc.com.

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 FY2009 Annual Report
and its annual and quarterly filings with the Securities and Exchange
Commission.

 

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