Allied Motion Reports Record Revenue of $96.6 Million and Expanded Margins in Third Quarter 2019
Allied Motion Technologies, Inc. (AMOT)
Last allied motion technologies, inc. earnings: 3/11 04:16 pm
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US:NASDAQ Investor Relations:
alliedmotion.com/investor-relations
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Source: Business Wire
One Allied strategy drives revenue growth of 21% to a record $96.6 millionGross margin expanded 140 basis points to 31.1%Operating income grew 22% to $8.8 million with operating margin of 9.1%Net income was $4.6 million, or $0.49 per diluted share; Excluding atypical foreign tax assessment charges, adjusted net income* grew 12% to $5.4 million, or $0.57 per diluted shareYear-to-date cash generated from operations was $17.0 million, up 51% AMHERST, N.Y.--(BUSINESS WIRE)--Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or “Company”), a designer and manufacturer that sells precision and specialty controlled motion products and solutions to the global market, today reported financial results for its third quarter ended September 30, 2019. Results include the TCI, LLC (“TCI”) acquisition that was completed December 6, 2018.“We performed well in the quarter, delivering strong operating results as we execute on our strategy for growth. Organic revenue grew 10% driven by st
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