Allied Motion Sales Down 29% in 2009

The manufacturer of motion control components recorded a loss of $12.4 million for the year.

Allied Motion Technologies Inc. (NASDAQ: AMOT), reported sales for 2009 were $61.2 million, down 29% from 2008. The manufacturer of motion control components recorded a full year loss of $12.4 million, compared to a year ago profit of $2.9 million.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

For the fourth quarter ended Dec. 31, sales were $17 million, down 3% from the prior year period. Profit declined 58% to $117,000.

\”At the beginning of 2009 our stated objective was to weather the recession by focusing on positive cash flow, reducing operating costs and maintaining the resources critical to our growth in the future. Looking at our results, we can clearly say that we accomplished those objectives,\” said Dick Warzala, president and CEO. \”As we move forward into 2010, we are encouraged by signs of recovery in our served markets, and bolstered by our strong balance sheet, we have positioned ourselves to grow our revenues and profits in the future.\”

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access