Allied Motion (AMOT) Misses Q4 EPS by 4c
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Allied Motion Reports 10% Revenue Growth and Record Backlog in 2021
March 9, 2022 4:28 PM ESTRevenue grew 10% to $403.5 million in 2021, driven by broad-based recovery in target markets and new solutions offerings; Fourth quarter revenue was $96.8 million, up 4% from the prior year quarter Gross margin expanded 40 basis points to 30.0% in the year on higher volume, improved mix and strategic pricing; Fourth quarter gross margin was 28.7%, up 80 basis points despite ongoing supply chain disruptions as well as material and labor inflation Annual net income increased 77% to $24.1 million, or $1.66 per diluted share; Excluding net tax benefits and business development costs, adjusted net income was $1.26 per diluted share, up 26%... More
