Posted March 15, 2018

Allied Motion reports record revenue

Allied Motion Technologies reported record revenue of $252.0 million was up 2.5 percent for 2017.

That compares to revenue of $246 million in 2016.

Increased demand from the Industrial/Electronics, Medical and Aerospace & Defense markets as well as improvement in distribution sales more than offset lower demand in the company’s Vehicle market. 

Net income of $8 million, or 87 cents per share, compared to net income of $9 million, or $1 per share, in 2016.

Fourth quarter revenue increased 18.1 percent to $65.4 million. Net income of $95,000, or 1 cent per share, compared to net income of $709,000, or 8 cents, in the same period last year.