The 2020 Mid-Year Economic Update_long

Allied Motion Sales Down 1.4% in 1Q

Profit increases 38.5 percent to $3 million during quarter.

Motion control manufacturer Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, reported sales for the first quarter of $59.6 million, a decrease of 1.4 percent compared to the same period a year ago. The company attributed the revenue decline to the strengthening of the U.S. dollar against foreign currencies. Profit increased 38.5 percent to $3 million.

“For the quarter, we experienced growth in our aerospace and defense, medical and electronics markets," said CEO Dick Warzala. "Our vehicle and industrial markets were flat, while our distribution market was down."

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