Ametek, Inc. (AME) Tops Q1 EPS by 1c; Raises Outlook

Ametek, Inc. (NYSE: AME) reported Q1 EPS of $0.57, $0.01 better than the analyst estimate of $0.56. Revenue for the quarter came in at $975.3 million versus the consensus estimate of $966.2 million.

Ametek, Inc. sees FY2014 EPS of $2.32-$2.37, versus the consensus of $2.37. Ametek, Inc. sees FY2014 revenue of $2.30-2.35 million.

"AMETEK achieved excellent results in the first quarter. We had record performance as a result of the continued strong execution of our Four Growth Strategies. Solid core growth combined with our Operational Excellence initiatives and the contributions from recent acquisitions allowed us to deliver solid results and raise our 2014 earnings guidance," noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.

"Cash flow was strong, with operating cash flow totaling $161 million in the first quarter. We continue to use our cash flow to support our acquisition strategy. We closed two acquisitions in the quarter, and on April 11th we announced a definitive merger agreement to acquire the outstanding shares of Zygo Corporation, a leading provider of optical metrology solutions and high precision optics," continued Mr. Hermance.

For earnings history and earnings-related data on Ametek, Inc. (AME) click here.

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