Business
Allied Motion Reports Record Gross Margin of 32.4% on Revenue of $122.7 Million in Second Quarter 2022
Revenue grew 21% to a record $122.7 million, with organic growth of 10% Gross margin expanded to a record 32.4%, up 170 basis points year-over-year and 320
About this update from Allient Inc.
[{"type":"text","content":"\n\nRevenue grew 21% to a record $122.7 million, with organic growth of 10%\n\n\nGross margin expanded to a record 32.4%, up 170 basis points year-over-year and 320 basis points over the sequential 2022 first quarter, despite ongoing supply chain disruptions as well as material and labor inflation\n\n\nAchieved net income of $4.6 million or $0.29 per diluted share; Adjusted net income per share was $0.36, up 9%\n\n\nContinued strong demand yields orders of $139.2 million, with a book-to-bill ratio of 1.1x\n\n\nRecord backlog of $323.9 million, up 12% sequentially on solid demand and incremental backlog from recent acquisitions\n\n\nEnhanced technology and margin profile with three completed acquisitions in the second quarter\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 second quarter ended June 30, 2022. Results include the three acquisitions completed during the fourth quarter of 2021, and more recently, the acquisitions of ThinGap on May 24, 2022, FPH Group on May 30, 2022, and Airex, LLC on June 17, 2022.\n\n“Strong execution that is aligned with our strategy continues to drive our results. Second quarter revenue reached a record level as our teams have done a tremendous job meeting customer demand despite the ongoing supply chain disruptions. We also overcame a sizable FX headwind during the quarter, generating strong organic growth,” commented Dick Warzala, Chairman and CEO. “Our sales highlights were within our Industrial market, which increased 40% year-over-year from new solution offerings, both organically developed and acquired. Also contributing was strong growth in our Aerospace & Defense markets, largely aided by recent acquisitions.\n\n“The improvement in our gross margin performance is consistent with our stated objectives as we achieved a record level of 32.4%, which is up significantly for both the year-over-year and sequential period. Even at the operating level, our performance was solid as we have continued to invest for future growth.”\n\nMr. Warzala added, “Looking further out, order patterns have remained favorable, and our strong backlog continues to provide a solid foundatio...