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Motion control manufacturer Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, reported sales for the first quarter of $61.3 million, down 3.6 percent compared to the same period a year ago. Profit increased 12.8 percent to $2.6 million.
“Cost discipline and the effectiveness of our refinancing last year enabled net income growth on moderately softer revenue,” said Dick Warzala, chairman and CEO of Allied Motion. “With regard to our markets, on a trailing twelve-month basis, our aerospace & defense, medical, and industrial/electronics increased while our vehicle markets were down due to weakness and end-of-life in certain applications.”