Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Allied Motion Technologies Inc. (NASDAQ: AMOT) will announce its first quarter 2023 results after market close on May 3, 2023. A conference call will follow on May 4, 2023, at 10:00 a.m. ET, including a Q&A session. The call can be accessed via phone or webcast on the company's investor relations website.
Allied Motion specializes in precision and specialty controlled motion products across various sectors, including industrial, vehicle, medical, and aerospace & defense. The company's growth strategy focuses on enhancing its product and service offerings in the controlled motion sector to deliver increased value.
Allied Motion Technologies reported a remarkable 25% annual revenue growth to a record $503.0 million, fueled by strong demand in the Industrial and Aerospace & Defense sectors. The company achieved 35% fourth quarter revenue growth to $131.1 million with an 18.3% organic growth rate. Gross margins improved to record levels, with an annual gross margin of 31.3%. Annual net income reached $17.4 million, or $1.09 per diluted share. Orders in the fourth quarter totaled $145.6 million, leading to a strong book-to-bill ratio of 1.1x and a backlog of $330.1 million.
Allied Motion Technologies Inc. (Nasdaq: AMOT), based in Amherst, NY, has announced a quarterly cash dividend of $0.025 per share. This dividend will be paid on April 5, 2023, to shareholders recorded as of March 22, 2023. Allied Motion specializes in precision-controlled motion products across various industries, including Vehicle, Medical, Aerospace & Defense, and Industrial Markets. The company's strategic focus lies in leveraging its technology to deliver integrated precision solutions aimed at enhancing customer value.