Allied Motion Sales Climb 31.6% in 2010

Resource from: Allied Motion Technologies Inc. Likes:3096

Feb 23,2011

(February 22, 2011) Allied Motion Technologies Inc. (NASDAQ: AMOT), Denver, CO, reported sales for 2010 were $80.6 million, an increase of 31.6 percent over sales for 2009. Profit was $3.59 million, compared to a year ago loss of $12.45 million. For the quarter ended Dec. 31, 2010, profit increased to $983,000, compared to profit of $117,000 for the year-ago same period. Sales increased 24 percent to $21.1 million. New orders booked during 2010 were $92 million, an increase of 58.5 percent over 2009. "The record profits and orders achieved for the year 2010 and the continued solid performance in the fourth quarter is a direct result of an improving economy and the restructuring and process improvements we made during the year," said Dick Warzala, president and CEO.

(Allied Motion Technologies Inc.)

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