BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Tuesday reported first-quarter profit of $305.7 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of $1.32. Earnings, adjusted for amortization costs, came to $1.49 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.6 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.53 billion.
Ametek expects full-year earnings in the range of $5.96 to $6.10 per share.
Ametek shares have fallen slightly since the beginning of the year, while the S&P's 500 index has increased almost 9%. The stock has climbed 10% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AME">Zacks stock report on AME at https://www.zacks.com/ap/AME