Allied Motion (AMOT) Tops Q1 EPS by 1c

Allied Motion (NASDAQ: AMOT) reported Q1 EPS of $0.48, $0.01 better than the analyst estimate of $0.47. Revenue for the quarter came in at $93.9 million versus the consensus estimate of $89.76 million.

“Our One Allied approach continues to prove effective, driving strong organic growth and record orders as we expanded our market share in many of our served markets. Further, our acquisition of TCI is meeting our expectations as it has expanded our offerings, brought excellent talent and broadened our markets. TCI’s new projects and customers complemented our organic growth to drive total revenue up 23%,” commented Dick Warzala, Chairman and CEO. “Gross margin was unchanged as we increased our investment in R&D and other key resources to facilitate growth opportunities. There were also some atypical impacts to gross margin in the quarter, including increased costs for certain electronic assemblies that we are focusing on reducing over the next several months. With our focus on Allied Systematic Tools (AST), we expect to drive improvements in all areas of our business to make further inroads into desirable end markets and to continuously improve quality, delivery, innovation and cost.”

For earnings history and earnings-related data on Allied Motion (AMOT) click here.

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