Posted August 2, 2019

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.