Business
Allied Motion Delivers Record Annual Gross Margin of 31.3% on Revenue of $503.0 Million in 2022
Annual revenue up 25% to a record $503.0 million, driven by strong demand in Industrial and Aerospace & Defense markets and incremental sales from
About this update from Allient Inc.
[{"type":"text","content":"\n\nAnnual revenue up 25% to a record $503.0 million, driven by strong demand in Industrial and Aerospace & Defense markets and incremental sales from acquisitions; Organic growth was 12.0% for the year on a constant currency basis\n\n\nFourth quarter revenue grew 35% to $131.1 million, with organic growth of 18.3% on a constant currency basis\n\n\nAnnual gross margin expanded 130 basis points to a record 31.3% on higher volume and accretive acquisitions; Fourth quarter gross margin expanded 240 basis points to 31.1%\n\n\nAchieved annual net income of $17.4 million, or $1.09 per diluted share; Adjusted net income per share was $1.88, up 18% for the year\n\n\nFourth quarter net income more than doubled to $3.7 million, or $0.23 per diluted share; Adjusted net income per share for the quarter was up 43% to $0.43\n\n\nFourth quarter orders of $145.6 million drove a book-to-bill ratio of 1.1x and record backlog of $330.1 million at year-end\n\n\n AMHERST, N.Y.--(BUSINESS WIRE)--\nAllied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, today reported financial results for its fourth quarter and full year ended December 31, 2022. Results include all acquisitions completed during the fourth quarter of 2021 and in the second quarter of 2022.\n\n“Our fourth quarter and full year results were strong and speak to the consistent and focused efforts of the entire Allied team to execute our strategy and deliver strong organic growth and create new growth opportunities through selective acquisitions,” commented Dick Warzala, Chairman and CEO. “The fourth quarter provided several highlights, which included impressive organic growth of 18%, the strengthening of our margin profile, and robust order levels which were broad-based across many of our targeted markets. For the year, we continued to demonstrate our ability to manage our business effectively despite the challenging macro conditions as we crossed a revenue milestone of more than $500 million and achieved our stated goal of gross margin expansion, reaching a record 31.3%.”\n\nMr. Warzala added, “While heightened levels of macroeconomic and geopolitical uncertainty remain, we believe we are in a strong position and are confident we can continue to ex...