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AMETEK Inc., Berwyn, PA, a global manufacturer of electronic instruments and electromechanical devices, reported sales for the first quarter of $1.2 billion, up 16.4 percent from the same period a year ago. Profit increased 30.5 percent to $181.3 million. Organic sales growth was 8 percent.
For the first quarter, electronics instruments group sales increased 15.6 percent year-over-year to $716.4 million, while electromechanical group sales increased 17.6 percent to $456.2 million.
"AMETEK delivered outstanding results to start the year," said David Zapico, AMETEK chairman and CEO. "Excellent organic sales growth, contributions from recently completed acquisitions and exceptional operating performance allowed AMETEK to deliver 30 percent earnings growth in the quarter. Record backlog, continued strong order momentum and positive market trends provides us with an optimistic outlook for the remainder of the year, prompting us to raise our full year guidance for 2018."