Allied Motion (AMOT) Tops Q1 EPS by 12c

Allied Motion (NASDAQ: AMOT) reported Q1 EPS of $0.32, $0.12 better than the analyst estimate of $0.20. Revenue for the quarter came in at $101.7 million versus the consensus estimate of $93.42 million.

“Our first quarter performance was fueled by double-digit growth in Medical and Vehicle, which drove total revenue to a record level,” commented Dick Warzala, Chairman and CEO. “While our Industrial and Aerospace & Defense revenue was down quarter-over-quarter, we are seeing encouraging signs of improvement overall in our served markets as demonstrated by our record incoming and booked orders in the quarter. We believe we are managing our inventory levels well even as we work to deal with supply chain challenges to meet customer demand. Importantly, gross margin saw sequential improvement on higher volume despite near-term headwinds created by supply chain constraints as we maintain our focus on meeting the needs of our customers.”

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

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