Allied Motion revenue up 16 percent
Allied Motion Technologies reported that its second-quarter revenue of $92.6 million was up 16 percent, reflecting growth across all of the company’s served markets.
Organic growth of more than 3 percent, which reflects double-digit U.S. performance, was partially offset by softer market conditions in Europe. Sales to U.S. customers were 58 percent of total sales for the quarter compared with 52 percent from the second quarter last year.
Net income of $4.4 million, or 47 cents per share, compared to $4.2 million, or 45 cents, in the same quarter last year.
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.
