Allient Inc. (ALNT) Tops Q3 EPS by 6c
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Allient Reports Record Gross Margin of 32.7% on Revenue of $145.3 Million in Third Quarter 2023
November 1, 2023 4:41 PM EDTRevenue grew 8% to $145.3 million; Organic growth of 7% on a constant currency basis Gross margin expanded 50 basis points to a record 32.7%, largely due to favorable end market mix Net income increased 1% to $6.7 million or $0.41 per diluted share; Adjusted net income was $0.61 per share, up 3% Orders were $154.9 million and included a $31 million order in the defense market Completed the acquisition of Sierramotion, further enhancing technology/product offerings consistent with our customer facing market strategy Generated $27.1 million of cash from operations and reduced debt balance by $11.1 million... More
