Posted March 12, 2020

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.