Posted May 14, 2010
Allied Motion sales and earnings up
Allied Motion Technologies Inc. achieved Q1 net income of $734,000 or 9 cents per diluted share.
The results compared to a net loss of $730,000 or 10 cents per diluted share for the same quarter last year. Revenues for the quarter increased 14% to $17.42 million compared to $15.29 million last year.
"We are pleased with the first quarter profit improvement and encouraged by the record new orders as we reported in our first quarter results," said Dick Warzala, president and CEO of Allied Motion. "The bookings in the first quarter of 2010 exceeded the previous high achieved in the first quarter of 2006 and are a good indicator that recovery in our served markets is occurring at a faster pace than previously expected."
