Motion control manufacturer Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, reported 2017 sales of $252 million, a 2.5 percent increase from 2016. Profit decreased 11.5 percent to $8 million.
Sales for the fourth quarter were $65.4 million, an 18.1 percent increase year-over-year. Fourth-quarter profit fell 86 percent to $0.1 million due to one-time charges related to the U.S. Tax Cuts and Jobs Act.
In January, the company acquired the original equipment steering business of Maval Industries LLC.
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