Allied Motion income drops
Allied Motion Technologies said its net income of $819,000 or 9 cents per diluted share, compared to $1.81 million, or 21 cents, for the second quarter of 2012.
Revenues for the quarter decreased 5.5% to $25.35 million compared to $26.83 million last year with foreign sales up 2.7% and sales in the U.S. down 11.6%.
“Sales in the second quarter of 2013 were up slightly from the first quarter of the year with our served markets in medical, vehicle and A&D down, while our electronics and industrial markets were up," said Dick Warzala, president and CEO.
For the first six months of the year, net income of $1.77 million, or 20 cents per diluted share, compared to $2.97 million, or 35 cents, for the same period last year. Revenues decreased 5.9% to $50.45 million compared to $53.68 million last year, with foreign sales up 1.2% and sales in the U.S. down 11.6%.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
