Allied Motion sales climb 19 percent
Allied Motion Technologies said fourth-quarter revenue of $87.9 million was up 19 percent, reflecting double-digit growth in Aerospace & Defense and Vehicle, and contributions from TCI.
Fourth quarter net income increased to $3.5 million, or $0.37 per diluted share, compared with $2.6 million, or $0.28 per diluted share.
For the full year, strong demand in the Aerospace & Defense and Medical markets, along with the incremental TCI business, resulted in record revenue of $371.1 million, up $60.5 million, or 19 percent.
Net income increased 7 percent to a record $17.0 million, or $1.80 per diluted share, in 2019, compared to $15.9 million, or $1.72, in 2018.
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.
