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.
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.
