Ametek (AME) Tops Q3 EPS by 1c; Tightens FY16 EPS Outlook

AMETEK Completes Private Placement Offering

BERWYN, Pa., Nov. 1, 2016 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) announced that it has entered into an agreement to sell the equivalent of approximately $825 million in Senior Notes in a private placement with institutional investors at a weighted average interest rate of 1.82% and a weighted average maturity of 11.5 years.  Proceeds from the offering will be used to repay existing debt and to provide capital to support our growth strategies. 

There are two funding dates for the Senior Notes.  The first funding occurred on October 31, 2016 for 500 million, consisting of 300 million in aggregate principal... More

AMETEK Acquires Laserage Technology Corporation

BERWYN, Pa., Nov. 1, 2016 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced that it has completed the acquisition of Laserage Technology Corporation, a leading provider of laser fabrication services for the medical device market.  Laserage is a privately held company with headquarters and manufacturing operations in Waukegan, IL, and a manufacturing facility in Milipitas, CA.  Laserage has estimated annual sales of $22 million.

"Laserage is an excellent addition to our growing presence in the medical industry.  Its fabrication and manufacturing capabilities are an excellent fit with our engineered medical components business providing strong... More

AMETEK Announces Third Quarter 2016 Results

BERWYN, Pa., Nov. 1, 2016 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced its financial results for the three month period ended September 30, 2016. 

AMETEK reported third quarter 2016 sales of $945.0 million, down 5% from last year's third quarter.  Operating income was $201.1 million and operating margins were 21.3% in the quarter.  Diluted earnings per share of $0.56 were down 14% from last year's third quarter.      

"I am pleased with our team's performance having delivered results that met our expectations in a challenging macro environment," said David A. Zapico, AMETEK Chief Executive Officer.  "Although prior year... More