The 2020 Mid-Year Economic Update_long

Allied Motion Sales Increase 38% in 2011

Profit for the manufacturer of motion control products nearly doubled year over year.

Allied Motion Technologies Inc. (NASDAQ: AMOT), Denver CO, reported sales for 2011 were $110.9 million, an increase of 38 percent over sales in 2010. Profit was $7 million versus profit of $3.6 million a year ago.

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Revenues from existing businesses increased 12 percent and incremental revenues achieved by the two companies acquired in 2010, Ostergrens and Agile Systems Inc., a subsidiary acquired on June 3, 2010 and now operating as Allied Motion Canada, contributed 26 percent of the increase.

For the fourth quarter, sales increased 33 percent to $28 million. Sales from existing businesses increased 9 percent. Profit was $2.7 million, compared with $1 million the prior year period.

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