Allied Motion (AMOT) Misses Q4 EPS by 12c, Revenues Miss

Allied Motion (NASDAQ: AMOT) reported Q4 EPS of $0.28, $0.12 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $74 million versus the consensus estimate of $76.29 million.

“The success of our One Allied approach to drive organic sales was evident during the year as we achieved double-digit organic growth. This, combined with the successful execution of our acquisition strategy, resulted in record annual revenue and net income,” commented Dick Warzala, Chairman and CEO. “We are winning new projects and customers and gaining market share in many of our served markets. We believe that the successful execution of our strategic plan, our prudent use of capital and the consistent application and utilization of our Allied Systematic Tools (AST) kit to drive continuous improvements, has enabled our success. Moving forward, we plan to continue this same approach to managing our business and to drive our results in the future.”

Mr. Warzala added, “Fourth quarter results, while solid, were impacted in December by a couple of our markets that slowed or shifted order timing to manage inventory levels around year-end. That said, we believe the corrections were completed and our business will return to levels we experienced earlier in 2018.

“We have been particularly pleased with our recent acquisition of TCI as it further broadened our offerings and strengthened our position as a global leader of application-focused controlled motion solutions. The integration is on track and we believe there is excellent long-term growth opportunity as we leverage the technology, expanded channels and extended footprint of the combined businesses.”

For earnings history and earnings-related data on Allied Motion (AMOT) click here.

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