AMETEK Announces Record Results
finance.yahoo.com
--Diluted Earnings Per Share Up 18%--
--Full Year Guidance Increased to $1.85 - $1.87 Per Diluted Share--
"AMETEK achieved strong results in the third quarter with sales, operating income, operating margins and diluted earnings per share at record levels. Our Operational Excellence initiatives, contributions from acquired businesses, and strength in our oil and gas, aerospace, and power businesses allowed us to exceed our third quarter earnings expectations and raise our 2012 earnings guidance," noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
"Cash flow was superb, with operating cash flow a record $163 million for the quarter, an increase of 19% over the third quarter of 2011," continued Mr. Hermance.
For the nine months ended September 30, 2012, AMETEK sales increased 12% to $2.49 billion from $2.23 billion in the same period of 2011. Operating income increased 19% to $555.9 million, from $468.6 million earned in the first nine months of 2011. Net income for the first nine months was $339.2 million, up 20% from $282.6 million in the same period of 2011. Diluted earnings per share were $1.39 for the first nine months of 2012, up 20% from $1.16 per diluted share in the first nine months of 2011. |
