This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Allied Motion Announces Results For The Quarter And Year Ended December 31, 2012

Allied Motion Technologies Inc. (NASDAQ: AMOT) today announced that it achieved net income for the year ended December 31, 2012 of $5,397,000 or $.63 per diluted share compared to adjusted net income of $5,866,000 or $.68 per diluted share for the year ended December 31, 2011. Adjusted net income for 2011 excludes the $1,101,000 adjustment to the contingent consideration recorded as part of the purchase price for Ostergrens Elmotor AB, acquired on December 31, 2010. Including the adjustment, net income was $6,967,000 or $.81 per diluted share for the year ended December 31, 2011.

“While sales in 2012 decreased by $8,973,000 or 8% for the year when compared to 2011, the decrease in our net income was limited to $469,000 when compared to adjusted net income for 2011 which factors out the acquisition earn-out gain of $1,101,000 that was recorded in 2011,” commented Dick Warzala, President and CEO of Allied Motion. “Most of our operating units and served markets experienced decreased levels of business in 2012. During 2013, we will continue to closely monitor our served markets as we expect them to begin firming up and stabilizing as we move through the year. In the meantime, we will execute our Strategy for the long term growth and development of our Company by designing innovative Motion Solutions That Change the Game” and meet the current and emerging needs of customers in our served market segments.”

Revenues for this year were $101,968,000 a 8.1% decrease from the record revenues of $110,941,000 for last year with $6,346,000, or 71% of the decrease due to lower volume and $2,627,000 or 29% due to the dollar strengthening against the Euro and the Swedish Krona. Backlog at December 31, 2012 was $32,915,000 down 25% from the record backlog at December 31, 2011 of $44,005,000. The decrease in backlog is primarily the result of the current market conditions and the delay of certain blanket order placements.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs