Welcome to our dedicated page for Allient news (Ticker: amot), a resource for investors and traders seeking the latest updates and insights on Allient stock.
Allient Inc. (Nasdaq: AMOT) is a global leader in the design, manufacturing, and sales of precision and specialty-controlled motion products and solutions. Headquartered in Amherst, NY, the company serves a broad range of markets, including Industrial, Vehicle, Medical, and Aerospace & Defense sectors. With its expertise in electro-magnetic, mechanical, and electronic controlled motion technologies, Allient is committed to delivering high-quality solutions to clients worldwide.
Allient's product portfolio is diverse, comprising 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. The company also offers Industrial safety-rated I/O Modules and Universal Industrial Communications Gateways.
In recent news, Allient announced the retirement of Robert P. Maida, Senior Vice President and Group President, effective September 30, 2023. Mr. Maida has served the company for over a decade and will continue to provide his expertise as an advisor to the CEO. Additionally, Allient reported record sales and strong organic growth in their second quarter of 2023, with revenue up 20% to $146.8 million and net income increasing 48% to $6.8 million.
Allient's growth strategy focuses on capturing greater market share by continuously developing its products and services to provide comprehensive solutions that utilize multiple technologies. The company regularly updates its stakeholders with news and important information on its official website, www.alliedmotion.com.
Furthermore, the company has recently undergone a name change from Allied Motion Technologies Inc. to Allient Inc., reflecting its evolution and expanding capabilities in Motion, Controls, and Power solutions. This change underscores Allient's commitment to innovation and its strategic goal to broaden its market presence and value proposition.
Allied Motion Technologies Inc. (NASDAQ: AMOT) will announce its first quarter 2023 results after market close on May 3, 2023. A conference call will follow on May 4, 2023, at 10:00 a.m. ET, including a Q&A session. The call can be accessed via phone or webcast on the company's investor relations website.
Allied Motion specializes in precision and specialty controlled motion products across various sectors, including industrial, vehicle, medical, and aerospace & defense. The company's growth strategy focuses on enhancing its product and service offerings in the controlled motion sector to deliver increased value.
Allied Motion Technologies reported a remarkable 25% annual revenue growth to a record $503.0 million, fueled by strong demand in the Industrial and Aerospace & Defense sectors. The company achieved 35% fourth quarter revenue growth to $131.1 million with an 18.3% organic growth rate. Gross margins improved to record levels, with an annual gross margin of 31.3%. Annual net income reached $17.4 million, or $1.09 per diluted share. Orders in the fourth quarter totaled $145.6 million, leading to a strong book-to-bill ratio of 1.1x and a backlog of $330.1 million.
Allied Motion Technologies Inc. (Nasdaq: AMOT), based in Amherst, NY, has announced a quarterly cash dividend of $0.025 per share. This dividend will be paid on April 5, 2023, to shareholders recorded as of March 22, 2023. Allied Motion specializes in precision-controlled motion products across various industries, including Vehicle, Medical, Aerospace & Defense, and Industrial Markets. The company's strategic focus lies in leveraging its technology to deliver integrated precision solutions aimed at enhancing customer value.
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