Allied Motion Technologies Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company announced revenues of $79,981,000 compared to $60,335,000 a year ago. Operating income was $6,232,000 compared to $3,987,000 a year ago. Income before income taxes was $5,830,000 compared to $3,266,000 a year ago. Net income was $4,231,000 or $0.45 per diluted share compared $2,227,000 or $0.24 per diluted share a year ago. EBITDA was $9,263,000 against $6,417,000 a year ago. Adjusted EBITDA was $10,026,000 against $6,905,000 a year ago. Debt was reduced by $5.5 million.

For the six months, the company reported revenues of $156,557,000 compared to $121,689,000 a year ago. Operating income was $12,643,000 compared to $8,352,000 a year ago. Income before income taxes was $11,521,000 compared to $7,118,000 a year ago. Net income was $8,429,000 or $0.90 per diluted share compared $4,884,000 or $0.53 per diluted share a year ago. Net cash provided by operating activities was $7,386,000 compared to $7,383,000 a year ago. Purchase of property and equipment was $5,555,000 compared to $2,677,000 a year ago. EBITDA was $18,359,000 against $13,242,000 a year ago. Adjusted EBITDA was $19,769,000 against $14,196,000 a year ago.

The company provided earnings guidance for the year 2018. The company continues to expect to invest $13 million to $16 million in capital expenditures during fiscal 2018. The company anticipates its effective tax rate for 2018 to range from 24% to 26%.