Allient Inc. - AMOT STOCK NEWS

Allied Motion Technologies Inc. (Nasdaq: AMOT) reported a record revenue of $101.7 million for Q1 2021, marking a 10% increase driven by strong medical and vehicle market performance. Medical revenue surged 60%, boosted by the acquisition of Dynamic Controls, while vehicle sales rose 23%. Despite a sequential decline in industrial and aerospace defense revenue, the company noted a record backlog of $152.3 million. Gross margin improved to 29.6%, although it dipped year-over-year. Net income reached $11.9 million, aided by a tax benefit from New Zealand legislation.

Allied Motion Technologies Inc. (Nasdaq: AMOT) announced Board of Director changes following its Annual Meeting of Shareholders. Directors Linda P. Duch and Gerald J. Laber retired and did not seek re-election. New independent directors, Nicole R. Tzetzo and Steven C. Finch, were elected to the Board. Tzetzo has extensive experience in finance and legal operations, while Finch brings over 41 years of experience in manufacturing from General Motors. The Board's composition aims to enhance strategic goals and technology-driven solutions in the controlled motion market.

Allied Motion Technologies Inc. (Nasdaq: AMOT) plans to release its first quarter 2021 financial results on May 5, 2021, after market close. A conference call is scheduled for May 6, 2021, at 10:00 a.m. ET, where executives will discuss the results and answer questions. The Company specializes in precision controlled motion products across multiple industries, including Vehicle, Medical, Aerospace & Defense, and Industrial. This approach is central to its growth strategy, emphasizing integrated precision solutions and leveraging its expertise in various motion technologies.

Allied Motion Technologies Inc. (Nasdaq: AMOT) will participate in the Sidoti Spring 2021 Virtual Conference on March 25, 2021. Key executives, including Chairman and CEO Dick Warzala and CFO Michael Leach, are set to present at 10:45 a.m. Eastern Time. Investors can access the live webcast and presentation materials on the company's Investor Relations page. Allied Motion specializes in precision and specialty controlled motion products, focusing on markets such as Vehicle, Medical, Aerospace & Defense, and Industrial.

Allied Motion Technologies (Nasdaq: AMOT) reported Q4 and full-year 2020 financial results. Q4 revenue was $93 million, a 6% increase year-over-year, driven by a 69% surge in Medical markets. However, gross margin declined from 30.1% to 27.9%, influenced by supply chain issues and increased tariffs. Full-year revenue decreased 1% to $366.7 million, impacted by lower demand in non-Medical sectors due to COVID-19. The company reported a net income of $2.7 million for Q4 and $13.6 million for the year. A record backlog of $141.3 million positions Allied for future growth.

Allied Motion Technologies Inc. (Nasdaq: AMOT) has announced a three-for-two stock split, with shareholders receiving one additional share for every two held. The split will occur on April 30, 2021, for stockholders of record as of April 16, 2021, with trading on a split-adjusted basis starting May 3, 2021. Additionally, the company declared a quarterly cash dividend of $0.03 per share, payable on April 7, 2021, to shareholders of record as of March 24, 2021. Post-split, the number of outstanding shares will increase to approximately 14.6 million.

Allied Motion Technologies (Nasdaq: AMOT) announced its fourth quarter and full year 2020 earnings release scheduled for March 10, 2021, after market closure. A conference call will follow on March 11, 2021, at 10:00 a.m. ET, where financial results will be reviewed. The company focuses on precision and specialty controlled motion products across various industries including Vehicle, Medical, Aerospace & Defense, and Industrial. Allied Motion aims to lead in controlled motion solutions by leveraging its technology to provide higher value products.

Allied Motion Technologies Inc. (Nasdaq: AMOT) reported Q3 2020 revenue of $94.7 million, down 2% year-over-year, largely due to the pandemic's impact, although strong demand in Medical markets surged over 60%. Sequentially, revenue increased 9% driven by a rebound in the Vehicle market. Gross margin decreased to 29.7%, while net income fell to $4.0 million, or $0.42 per diluted share. Operating income decreased to $6.5 million, and adjusted EBITDA was $11.2 million. Cash flow improved, with $20.2 million in cash, highlighting a proactive approach to debt repayment amid ongoing COVID-19 challenges.

Allied Motion Technologies (Nasdaq: AMOT) has declared a quarterly cash dividend of $0.03 per share. This dividend will be paid on December 2, 2020, to shareholders of record as of November 18, 2020. The company has approximately 9.8 million shares outstanding. Allied Motion specializes in precision and specialty controlled motion products across various industries, including Vehicle, Medical, Aerospace & Defense, and Industrial sectors.