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Allient Inc. (Nasdaq: ALNT) is a leading global engineering and manufacturing firm, dedicated to developing cutting-edge solutions in the realms of Motion, Controls, and Power. The company caters to a diverse range of markets, including medical, life sciences, aerospace and defense, industrial automation, robotics, semiconductor, transportation, agriculture, construction, and facility infrastructure. Headquartered in Buffalo, New York, Allient employs over 2,500 team members worldwide, providing essential products and systems that drive industry innovation.
Formerly known as Allied Motion Technologies Inc., Allient has positioned itself as a trusted supplier of precision and specialty motion control components and systems. Their product portfolio includes nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor drives, gear motors, gearing, incremental and absolute optical encoders, and both active (electronic) and passive (magnetic) filters for power quality and harmonic issues.
Allient's commitment to internal growth and strategic acquisitions has been a significant driver of its success. The company's recent acquisition of SNC Manufacturing Co., Inc. enhances its capabilities in the clean power industry and broadens its reach into defense, industrial automation, and renewable energy markets. This acquisition aligns with Allient's strategy to expand its technological footprint and market presence.
Financially, Allient has demonstrated robust performance. In the third quarter of 2023, the company reported a revenue increase of 8% to $145.3 million, with an organic growth of 7%. Gross margin reached a record 32.7%, and net income rose by 1% to $6.7 million, or $0.41 per diluted share. Adjusted net income was $0.61 per share, up 3%. Orders for the quarter totaled $154.9 million, including a significant $31 million order in the defense market.
The company's strategic initiatives, such as the “Simplify to Accelerate NOW” strategy, focus on streamlining operations, reducing costs, and enhancing customer interactions, aim to drive sustained earnings growth and operational excellence. Allient's proactive approach to market challenges and opportunities ensures its continued relevance and competitiveness in a dynamic global market.
Allient Inc. continues to innovate and expand its capabilities to meet the evolving needs of its customers, driving growth and creating value for its stakeholders.
Allient Inc. (ALNT) has launched its Allient Defense Solutions (ADS) Business Unit, marking its first vertical market-focused initiative. This strategic move aims to expand the company's presence in high-growth defense markets across Land, Air, and Sea applications. The initiative includes a significant organizational restructuring with key appointments: Steve Warzala as ADS President and Corporate VP, Ken May leading systems engineering, Dave MacMillan heading business development, Brandon Hunter as GM for Allient-London, and Jesse Dowd as GM for Allient-Rochester.
The launch was introduced at the AUSA event in October 2024, following the company's rebranding strategy announced at its 2023 Investor Day. The restructuring includes realignment of the Global Engineering Team to enhance decision-making and product development processes.
Allient (ALNT) reported Q3 2024 results with revenue of $125.2 million, down 14% year-over-year, and net income of $2.1 million. Gross margin was 31.4%, improving 150 basis points sequentially. The company implemented $10 million in annual cost savings through its Simplify to Accelerate NOW initiatives. Cash flow from operations reached $29.5 million year-to-date, with quarter-end cash of $37.1 million. Vehicle market sales declined 38%, while Industrial, Medical, and Aerospace & Defense markets also saw decreases. The company expects customer inventory adjustments to complete by early 2025, with normalized run rates by mid-year.
Allient (Nasdaq: ALNT) has announced a quarterly cash dividend of $0.03 per share, payable on December 5, 2024, to stockholders of record as of November 21, 2024. The company, which specializes in Motion, Controls and Power products and solutions, currently has approximately 16.8 million shares outstanding.
Allient (Nasdaq: ALNT), a global designer and manufacturer of precision Motion, Controls and Power products, has scheduled its third quarter 2024 financial results release for Wednesday, November 6, 2024, after market close. The company will host a conference call and webcast on Thursday, November 7, 2024, at 10:00 a.m. Eastern Time to discuss the results. A Q&A session will follow the presentation. A replay will be available until November 14, 2024, and can be accessed by dialing (412) 317-6671 with PIN 10193002.
Allient Inc (Nasdaq: ALNT) has amended its 2024 Credit Facilities to enhance financial flexibility through FY2025. The amendment maintains the leverage ratio covenant at 4.25:1 for TTM periods ending September and December 2024, increases to 4.5:1 for Q1 and Q2 2025, reduces to 4.0:1 by September 2025, and finally reverts to 3.75:1. The company can now include up to $4 million in various costs in EBITDA calculations. Additionally, Allient executed a new interest rate swap agreement effective September 30, 2024, hedging $50 million of debt over three years to protect against SOFR-based rate fluctuations.
Allient Inc. (ALNT) reported Q2 2024 results with revenue of $136.0 million, down 7% year-over-year. Gross margin was 29.9%, and net income was $1.2 million or $0.07 per diluted share. The company generated $17.4 million in cash from operations year-to-date. Allient implemented cost-saving measures expected to yield $5 million in annualized savings, with an additional $5 million anticipated in the second half of 2024. Orders of $137.4 million resulted in a book-to-bill ratio of 1.0x and a backlog of $259.0 million. The company faces challenges due to market conditions, with an expected annualized revenue run rate below $500 million over the next several quarters.
Allient (Nasdaq: ALNT), a global designer and manufacturer of precision Motion, Controls and Power products, has announced a quarterly cash dividend of $0.03 per share. The dividend will be paid on September 5, 2024 to stockholders of record as of August 22, 2024. This decision was approved by Allient's Board of Directors. The company currently has approximately 16.8 million shares outstanding.
Allient specializes in creating solutions for targeted industries and applications, focusing on precision and specialty products. This dividend announcement demonstrates the company's commitment to providing regular returns to its shareholders.
Allient Inc. (Nasdaq: ALNT), a global designer and manufacturer of precision Motion, Controls and Power products, has announced its second quarter 2024 financial results conference call and webcast. The company will release its Q2 2024 results after market close on Wednesday, August 7, 2024. A conference call and webcast to review the results will be held on Thursday, August 8, 2024, at 10:00 a.m. Eastern Time.
Investors can access the call by dialing (201) 389-0920 or via webcast on the company's investor relations website. A telephonic replay will be available until August 15, 2024, by dialing (412) 317-6671 with PIN 13746994. The webcast replay and transcript will also be available on Allient's website.
Allient (Nasdaq: ALNT) has appointed James A. Michaud as Chief Financial Officer, effective June 3, 2024. Michaud succeeds Michael R. Leach, who is retiring. With over 25 years of experience, Michaud has held senior roles in both public and private multinational companies, most recently at Elior North America. CEO Dick Warzala highlighted Michaud's expertise in business operations, risk management, and financial planning, noting his fit for Allient's goal of generating $1 billion in revenue. Michaud holds a B.S. in Accountancy from Bentley University and is a Certified Public Accountant.
Allient Inc. (ALNT) reported a first-quarter revenue of $146.7 million, showing a 1% increase over the prior year. The company experienced an 80 basis points expansion in gross margin and a 6% increase in operating income to $12.1 million. Net income per diluted share rose by 8% to $0.42. Adjusted net income per share reached $0.58, indicating a 5% growth. Allient generated $9.2 million in cash from operations, more than double the previous year's first quarter. The company's strategic actions for 2024 include footprint rationalization, simplification of customer interactions, and product development timeline reduction.
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