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Allied Motion Technologies Inc. (NASDAQ: AMOT), Denver, CO, reported third-quarter sales of $24.3 million, down 11 percent from the same period a year ago. Profit declined 15 percent to $1.3 million.
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For the first nine months, sales were $78 million, down 6 percent year over year. Profit increased 1 percent to $4.3 million.
"When you eliminate the impact of the U.S. dollar strengthening, the actual Revenue decrease amounts to an 8 percent decrease in the third quarter of 2012 compared to the third quarter of 2011," said Dick Warzala, president and CEO. "With all of our operating units and all of our served markets experiencing decreased levels of business, it is our opinion that the results reflect a broad-based economic decline and as a company, we were not immune to the impact of that decline."