The 2020 Mid-Year Economic Update_long

AMETEK Sales Up 12% in 2017

Company completes two acquisitions.

AMETEK Inc., Paoli, PA, a global manufacturer of electronic instruments and electromechanical devices, reported sales for 2017 of $4.3 billion, up 12 percent over 2016. Profit increased 33 percent to $681.5 million.

For the fourth quarter, the company reported sales of $1.1 billion, up 17.6 percent from the same period of 2016. Profit increased 118.3 percent to $238.5 million.

For the fourth quarter, electronics instruments group segment sales increased 35.5 percent to $191.1 million. Operating income increased 20.4 percent to $195.6 million over the fourth quarter of 2016.

Electromechanical group segment sales increased 32.8 percent to $61.9 million during the quarter. Operating income in the fourth quarter increased 17.5 percent to $74.2 million.

The company has acquired FMH Aerospace, Irvine, CA, a provider of complex, highly-engineered solutions for the aerospace, defense and space industries, for $235 million. FMH will become part of AMETEK's Electromechanical Group.

AMETEK has also acquired Arizona Instrument, Chandler, AZ, is a provider of differentiated, high-precision moisture and gas measurement instruments for use in high-value applications, for $38 million. Arizona Instrument will become part of AMETEK's Electronic Instruments Group.

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