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Ametek: Q4 Earnings Snapshot
BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Tuesday reported fourth-quarter profit of $387.3 million.
The Berwyn, Pennsylvania-based company said it had profit of $1.67 per share. Earnings, adjusted for amortization costs, came to $1.87 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.76 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.81 billion.
For the year, the company reported profit of $1.38 billion, or $5.93 per share. Revenue was reported as $6.94 billion.
For the current quarter ending in March, Ametek expects its per-share earnings to range from $1.67 to $1.69.
The company expects full-year earnings in the range of $7.02 to $7.18 per share.
Ametek shares have risen 2% since the beginning of the year, while the S&P's 500 index has climbed 26%. The stock has increased 11% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AME at https://www.zacks.com/ap/AME
