Allied Motion Technologies Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:16 pm EDT
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Allied Motion Technologies Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 146.77 million compared to USD 122.72 million a year ago. Net income was USD 6.77 million compared to USD 4.58 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to USD 0.29 a year ago.
For the six months, sales was USD 292.32 million compared to USD 237.51 million a year ago. Net income was USD 13.08 million compared to USD 7.08 million a year ago. Basic earnings per share from continuing operations was USD 0.82 compared to USD 0.47 a year ago. Diluted earnings per share from continuing operations was USD 0.81 compared to USD 0.45 a year ago.
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.