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 (NASDAQ: AMOT) is set to release its fourth quarter and full year 2021 results after market close on March 9, 2022. A conference call to discuss the financial outcomes will follow on March 10, 2022, at 10:00 a.m. ET. Investors can listen to the call via phone or through a webcast, with replays available until March 17, 2022. The company specializes in precision controlled motion products across various markets including Vehicle, Medical, Aerospace, Defense, and Industrial sectors.
Allied Motion Technologies Inc. (NASDAQ: AMOT) has acquired Spectrum Controls, Inc. for $70 million. The transaction includes $45 million paid at closing, combining $27 million in cash and stock, with an additional $25 million to be paid in 2022 and 2023. This strategic acquisition is expected to enhance Allied's position in the industrial automation market, add engineering resources, and leverage Spectrum’s relationships with major automation companies. Spectrum is projected to be accretive to Allied's earnings and gross margins in 2022, with tax benefits offsetting $10 million in taxes over 15 years.
Allied Motion Technologies Inc. (NASDAQ: AMOT) has announced the acquisition of ALIO Industries for $20 million, comprising $15 million in cash and $5 million in stock. ALIO is recognized for its advanced linear and rotary motion systems tailored for nano-precision applications. This acquisition will enhance Allied Motion's product offerings and help accelerate growth by leveraging combined marketing channels. ALIO's commitment to innovation and quality aligns with Allied's values, ensuring a strong integration and potential for future revenue expansion.
Allied Motion Technologies Inc. (NASDAQ: AMOT) announced a quarterly cash dividend of $0.025 per share, payable on December 1, 2021, to stockholders of record as of the close of business on November 17, 2021. The company, headquartered in Amherst, NY, specializes in precision and specialty controlled motion products across various sectors, including Vehicle, Medical, Aerospace & Defense, and Industrial. This dividend reflects the company's commitment to return value to shareholders as it continues to develop integrated precision solutions for its target markets.
Allied Motion Technologies reported third-quarter financial results for 2021, achieving a 9% increase in revenue to $103.5 million, fueled by strong demand in Industrial and Vehicle markets, particularly with a 39% growth in Industrial sectors. Gross margin improved to 30.9%, reflecting strategic pricing and higher volume. Net income surged 49% to $6.0 million or $0.41 per diluted share. Record orders of $119.9 million resulted in a book-to-bill ratio of 1.2x and a backlog of $185.6 million—up 9% sequentially.
Allied Motion Technologies Inc. (Nasdaq: AMOT) announced the acquisition of ORMEC Systems Corp., a manufacturer of electro-mechanical automation solutions. This acquisition is expected to enhance Allied's precision motion control offerings and is projected to be accretive to earnings per share (EPS) and gross margin. ORMEC's expertise in automated motion control systems will complement Allied's capabilities, fostering growth and market competitiveness. The financial terms of the deal were not disclosed.
Allied Motion Technologies Inc. (NASDAQ: AMOT) will release its third quarter 2021 financial results after the market closes on November 3, 2021. A conference call is scheduled for November 4, 2021, at 10:00 a.m. ET, to discuss the results and take questions. The call will be accessible via phone and webcast, with a replay available from 1:00 p.m. ET on the call date through November 11, 2021. The company specializes in precision motion products, serving sectors like Medical, Aerospace, and Industrial.
Allied Motion Technologies Inc. (Nasdaq: AMOT) has announced a quarterly cash dividend of $0.025 per share, payable on September 1, 2021 to stockholders on record as of August 18, 2021. With approximately 14.7 million shares outstanding, the company continues to demonstrate its commitment to returning value to shareholders. Allied Motion specializes in precision and specialty controlled motion products across various sectors, including Vehicle, Medical, Aerospace & Defense, and Industrial.
Allied Motion Technologies reports impressive Q2 2021 results, with revenues up 17% to $101.5 million, driven by a robust 82% recovery in the Vehicle market and 20% growth in the Industrial sector. The company achieved a gross margin of 30.7%, marking a 110 basis point increase from Q1 2021. Despite facing supply chain challenges, operating income rose to $6.7 million, with net income reaching $4.6 million or $0.32 per share. Year-to-date revenue increased 14% to $203.2 million, supported by strong performance across Vehicle, Industrial, and Medical markets. Backlog has also hit a record $170.4 million.
Allied Motion Technologies (AMOT) plans to release its second quarter 2021 results on August 4, 2021, following market close. The company will hold a conference call on August 5, 2021, at 10:00 a.m. ET, to discuss its financial and operational performance. Interested parties can join via phone or access the webcast through their investor relations website. Allied Motion specializes in controlled motion products for various industries including medical and aerospace, aiming to enhance value through integrated solutions.
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