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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. (Nasdaq: ALNT) declared a quarterly cash dividend of $0.03 per share. The dividend payment is scheduled for June 6, 2024, to stockholders of record as of May 23, 2024.
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