Allient Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 04:16 pm EDT
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Allient Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 145.32 million compared to USD 134.41 million a year ago. Net income was USD 6.67 million compared to USD 6.61 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.41 compared to USD 0.41 a year ago.
For the nine months, sales was USD 437.64 million compared to USD 371.91 million a year ago. Net income was USD 19.75 million compared to USD 13.69 million a year ago. Basic earnings per share from continuing operations was USD 1.24 compared to USD 0.89 a year ago. Diluted earnings per share from continuing operations was USD 1.22 compared to USD 0.86 a year ago.
Allient Inc. is a global company, which designs, manufactures, and sells precision and specialty-controlled motion components and systems used in a range of industries. The Company sells component and integrated controlled motion solutions to end customers and original equipment manufacturer (OEMs) through its own direct sales force and authorized manufacturersâ representatives and distributors. The Companyâs products and solutions include nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor-drives, gear motors, gearing, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power and harmonic issues, industrial safety rated input/output modules, universal industrial communications gateways, light-weighting technologies, and other controlled motion-related products.