Posted November 5, 2020

Allied Motion 3Q revenue down 2 percent

Allied Motion Technologies reported revenue of $94.7 million was down 2 percent from $96.6 million, reflecting lower sales to most markets given the ongoing impact from the pandemic.

Net income was $4.0 million, or 42 cents per diluted share, compared with $4.6 million, or 49 cents, in the 2019 third quarter.

"Continued strong demand in our Medical market and a rebound in our Vehicle market were met with superior execution, resulting in sales growth of 9 percent sequentially, and nearly offset the impact of the pandemic on our other markets on a year-over-year basis for the third quarter,” said Dick Warzala, Chairman and CEO.