Posted August 16, 2010
Allied Motion profits up
Allied Motion Technologies Inc. achieved second-quarter net income of $739,000, or 9 cents per diluted share, on sales of $19.9 million.
In the same period last year, the manufacturer of motion control products had a net loss of $12.1 million, or $1.60 per diluted share, on $13.9 million in sales.
The 43% revenue increase includes the results from Agile Systems Inc., a subsidiary that was acquired on June 3 and continues to operate as Allied Motion Canada.
For the six months ended June 30, income was $1.4 million, or 19 cents per diluted share, compared to a net loss of $12.8 million last year.
Revenues for the first six months increased 28% to $37.4 million compared to $29.2 million for the same period last year.
