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Allied Motion Technologies Inc. (Nasdaq: AMOT) has announced that it will release its fourth quarter and full year 2022 financial results on March 7, 2023, after market close. A conference call will follow on March 8, 2023, at 10:00 a.m. ET to discuss the results and answer questions. The company designs and manufactures precision controlled motion products for various markets including Vehicle, Medical, Aerospace, and Industrial. Its growth strategy focuses on becoming a leader in controlled motion solutions by leveraging its technological expertise to create integrated products.
Allied Motion Technologies (Nasdaq: AMOT) reported a record revenue of $134.4 million for Q3 2022, marking a 30% increase year-over-year, driven by a 15% organic growth rate. Gross margin improved to 32.2%, an increase of 130 basis points, and operating income rose 35% to $11.7 million. The net income was $6.6 million, or $0.41 per share. The company emphasized strong execution in leveraging both organic and acquisition growth strategies to navigate ongoing macroeconomic challenges.
Allied Motion Technologies Inc. (NASDAQ: AMOT) has declared a quarterly cash dividend of $0.025 per share, set for payment on December 1, 2022. Stockholders of record as of November 17, 2022 will qualify for this dividend. The company specializes in precision controlled motion products serving various sectors including Vehicle, Medical, Aerospace & Defense, and Industrial Markets.
Allied Motion Technologies Inc. (Nasdaq: AMOT) will release its third quarter 2022 results on November 2, 2022, after the market close. A conference call is scheduled for November 3, 2022, at 10:00 a.m. ET for a detailed discussion of financial and operating results, followed by a Q&A session. Interested parties can access the call via phone at (412) 317-6026 or through a webcast at Allied Motion Investor Relations. This meeting will be key for stakeholders to gain insights into the company's performance.
Allied Motion Technologies Inc. (Nasdaq: AMOT) announced that Chairman, President, and CEO Dick Warzala, along with CFO Michael R. Leach, will present at the Sidoti & Company Small-Cap Virtual Conference on September 21, 2022, at 8:30 a.m. Eastern Time. The presentation will focus on precision and specialty controlled motion products for global markets. A live webcast and materials will be available on their Investor Relations page, with a replay accessible for 90 days.
Allied Motion Technologies Inc. (NASDAQ: AMOT) has amended its credit agreement, effective August 23, 2022, increasing its revolving credit facility from $225 million to $280 million. The maximum leverage ratio has been raised to 4.0x until Q3 2023, stepping down to 3.5x afterward. The company plans to use this new credit line to support growth amidst supply chain constraints. CFO Michael R. Leach emphasized the importance of this amendment for meeting working capital needs and facilitating strategic acquisitions.
Allied Motion Technologies Inc. has appointed Ken May as its first Corporate Vice President and Chief Technology Officer (CTO). In this pivotal role, May will lead global technology and engineering teams to enhance system technology tailored for evolving market needs. May, who joined Allied in 2019, has a robust background in systems engineering from Moog Inc. and automotive companies. CEO Dick Warzala expressed confidence in May's leadership to advance the company’s technology strategy, promising improved solutions for target markets.
Allied Motion Technologies reported a record revenue of $122.7 million, reflecting a 21% year-over-year growth and a 10% organic growth. The company achieved a gross margin of 32.4%, an increase of 170 basis points, despite supply chain disruptions. Net income remained stable at $4.6 million, or $0.29 per diluted share, while adjusted net income rose to $5.7 million, or $0.36 per diluted share. A strong backlog of $323.9 million and solid order levels of $139.2 million further demonstrate robust demand across markets.
Allied Motion Technologies (NASDAQ: AMOT) has declared a quarterly cash dividend of $0.025 per share, set to be paid on September 1, 2022, to stockholders on record by August 18, 2022. The Company specializes in precision controlled motion products for various markets, including Vehicle, Medical, Aerospace & Defense, and Industrial. With a growth strategy centered on leveraging technology to enhance customer solutions, Allied Motion continues to strengthen its market position.
Allied Motion Technologies Inc. (Nasdaq: AMOT) will release its second quarter 2022 results after market close on August 3, 2022. A conference call is scheduled for August 4, 2022, at 10:00 a.m. ET to discuss the results, followed by a Q&A session. A replay will be available from 1:00 p.m. ET on the day of the call until August 11, 2022. Allied Motion designs and manufactures precision controlled motion products utilized across various sectors including Vehicle, Medical, Aerospace & Defense, and Industrial Markets.