Allied Motion Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Capital Expenditures and Tax Rate Guidance for the Year 2018
August 01, 2018 at 04:22 pm EDT
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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%.
Allient Inc. is a global company, which designs, manufactures, and sells precision and specialty-controlled motion components and systems used in a range of industries. The Company sells component and integrated controlled motion solutions to end customers and original equipment manufacturer (OEMs) through its own direct sales force and authorized manufacturersâ representatives and distributors. The Companyâs products and solutions include nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor-drives, gear motors, gearing, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power and harmonic issues, industrial safety rated input/output modules, universal industrial communications gateways, light-weighting technologies, and other controlled motion-related products.
Allied Motion Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Capital Expenditures and Tax Rate Guidance for the Year 2018