The 2020 Mid-Year Economic Update_long

Allied Motion Technologies Sales Down 5.5% in 2Q

U.S. sales declined 11.6 percent.

Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, NY, reported sales for the second quarter of $25.4 million, a decrease of 5.5 percent compared to the same period a year ago, with foreign sales up 2.7 percent and sales in the U.S. down 11.6 percent. Profit decreased 54.9 percent to $819,000.

“Sales in the second quarter of 2013 were up slightly from the first quarter of the year with our served markets in medical, vehicle and A&D down, while our electronics and industrial markets were up. During the remainder of 2013, we will continue to closely monitor our served markets as we believe they have stabilized and, other than for the normal summer season business downturns in Europe, we do expect modest growth as we move through the year,” said Dick Warzala, president and CEO. “As previously mentioned, we did incur new business development expenses in conjunction with a potential acquisition which the company is continuing to pursue.”

For the first six months, Allied Motion sales were $50.5 million, a decrease of 5.9 percent compared to the same period a year ago. Profit decreased 40 percent to $1.8 million.

About the Author
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.

By subscribing, you are agreeing to MDM’s Privacy Policy.

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

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

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.