Allied Motion posts record sales
Allied Motion Technologies reported first-quarter revenue increased 25 percent to a record $76.6 million driven primarily by organic growth.
Net income rose 58 percent to $4.2 million, or 45 cents per share, compared to $2.7 million, or 29 cents, in the same period a year ago.
During the quarter, Allied Motion acquired the original equipment steering business of Maval Industries.
“Building market momentum, the traction gained in our targeted markets, and our recent acquisition contributed to record sales in the first quarter,” said Dick Warzala, chairman and CEO of Allied Motion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
