Allied Motion Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Effective Tax Rate Guidance for the Full Year of 2016
November 02, 2016 at 04:29 pm EDT
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Allied Motion Technologies Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of $61,040,000 compared to $61,534,000 a year ago. Operating income was $5,025,000 compared to $7,031,000 a year ago. Income before income taxes was $3,596,000 compared to $5,642,000 a year ago. Net income was $2,520,000 or $0.27 per basic and diluted share compared to $4,278,000 or $0.46 per basic and diluted share a year ago. EBITDA was $7,559,000 compared to $9,033,000 a year ago. Adjusted EBITDA was $8,077,000 compared to $9,443,000 a year ago.
For the nine months, the company reported revenue of $190,550,000 compared to $181,593,000 a year ago. Operating income was $15,520,000 compared to $18,397,000 a year ago. Income before income taxes was $11,084,000 compared to $14,267,000 a year ago. Net income was $7,589,000 or $0.81 per basic and diluted share compared to $10,379,000 or $1.12 per basic and diluted share a year ago. EBITDA was $23,019,000 compared to $24,349,000 a year ago. Adjusted EBITDA was $23,907,000 compared to $25,685,000 a year ago. Net cash provided by operating activities was $9,965,000 compared to $13,727,000 a year ago. Purchase of property and equipment was $3,694,000 compared to $3,693,000 a year ago. Capital expenditures were consistent year-over-year at $3.7 million through the first nine months of 2016.
The company anticipates its effective tax rate for 2016 will be approximately 32%.
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 Third Quarter and Nine Months Ended September 30, 2016; Provides Effective Tax Rate Guidance for the Full Year of 2016