Allied Motion Reports Record Operating Income on Revenue of $134.4 Million in Third Quarter 2022
Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, today reported financial results for its third quarter ended September 30, 2022. Results include all acquisitions completed during the fourth quarter of 2021 and in the second quarter of 2022
AMHERST, N.Y.--(BUSINESS WIRE)--Nov 2, 2022--
Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, today reported financial results for its third quarter ended September 30, 2022. Results include all acquisitions completed during the fourth quarter of 2021 and in the second quarter of 2022.
“Results in the quarter demonstrated the power of our strategy combined with strong execution to drive both organic and inorganic growth, as we leveraged our diversified end market mix, and further developed our One Allied global platform to drive record sales. Equally important, was the strengthening of our margin profile, which delivered record operating income despite ongoing macroeconomic headwinds,” commented Dick Warzala, Chairman and CEO. “We continue to be highly confident in our ability to navigate today’s unique challenges and expect to see further benefits as we further leverage the full potential of our recent acquisitions and create a stronger long term competitive position across our targeted markets.”
Third Quarter 2022 Results(Narrative compares with prior-year period unless otherwise noted)
