The 2020 Mid-Year Economic Update_long

AMETEK Sales Up 0.9% in 1Q

Profit increased 1.1 percent in first quarter.

AMETEK Inc., Paoli, PA, a global manufacturer of electronic instruments and electromechanical devices, reported sales for the first quarter of $984.1 million, up 0.9 percent from the same period a year ago. Profit increased 1.1 percent to $142.1 million.

For the first quarter, electronics instruments group sales increased 3.7 percent year-over-year to $593.8 million, while electromechanical group sales decreased 3.1 percent to $390.3 million.

"AMETEK achieved solid results to begin the year with outstanding operating performance across the Company and double digit earnings growth," said CEO Frank S. Hermance. "Since the strong U.S. dollar and sluggish global economy will impact our 2015 sales growth, we have proactively taken actions to properly position AMETEK to deliver earnings in-line with our initial guidance."

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