Allient (ALNT) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 120%. A quarter ago, it was expected that this motion control product maker would post earnings of $0.56 per share when it actually produced earnings of $0.61, delivering a surprise of 8.93%.Over the last four quarters, th ...

BUFFALO, N.Y.--(BUSINESS WIRE)--Allient Inc. (Nasdaq: ALNT) (“Allient” or the “Company”), a global designer and manufacturer of precision and specialty Motion, Controls and Power products and solutions for targeted industries and applications, today reported financial results for its fourth quarter and full year ended December 31, 2023. Results include the Sierramotion Inc. acquisition, which was completed in September 2023. “With a backdrop of macro uncertainty and other challenges, the Allient team onc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | |---------------------|---------------------------------------------------------------------------------|-------------| | ...

BUFFALO, N.Y.--(BUSINESS WIRE)--Allient Inc. (formerly known as Allied Motion Technologies Inc.) (Nasdaq: ALNT) (“Allient” or the “Company”), a global designer and manufacturer of precision and specialty Motion, Controls and Power products and solutions for targeted industries and applications, today announced the acquisition of SNC Manufacturing Co., Inc. (“SNC”), a premier designer and global manufacturer of electrical transformers serving blue-chip customers in defense, industrial automation, alternative ...

Allient Inc. (NASDAQ:ALNT) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Craig Mychajluk - Investor Relations Richard Warzala - Chairman, President and CEO Michael Leach - Chief Financial Officer Conference Call Participants Gregory Palm - Craig-Hallum Capital Group Ted Jackson - Northland Capital Markets Operator Good morning, and welcome to the Allient Inc. Third Quarter Fiscal Year 2023 Financial Results Conference Call. [Operator Instructions] After today's presenta ...

Table of Contents 927 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |--------------------------------------------------------------------------|---------------------------------------------|------------------------------- ...

Financial Data and Key Metrics Changes - The company reported a 20% increase in revenue, amounting to $146.8 million, with organic revenue growth at 17% [9][10] - Net income rose by 48% to $6.8 million, translating to $0.42 per diluted share, while adjusted net income was $9.5 million or $0.58 per diluted share, up 21% [13] - Operating income increased 60% to a record $12 million, with an operating margin of 8.2%, up 210 basis points [7][12] Business Line Data and Key Metrics Changes - Industrial markets saw a 39% increase, driven by industrial automation projects and power quality solutions [6][10] - Aerospace and Defense markets grew by 11%, aided by acquisitions and defense program timing [7] - Vehicle market sales increased by 7%, while medical markets experienced a 3% growth overall [7][10] Market Data and Key Metrics Changes - The industrial market remains the largest, accounting for 41% of total trailing twelve-month sales, with a 40% growth in this sector [10] - The backlog decreased by 3% from the previous quarter, reflecting improvements in the supply chain [16] - Orders totaled approximately $137 million, resulting in a book-to-bill ratio of 0.9 times [16] Company Strategy and Development Direction - The company aims to continue executing its strategy focused on cash generation and debt reduction, which supports planned M&A activities [18] - There is an emphasis on leveraging global manufacturing and engineering capabilities to expand market share [19] - The company is actively grooming potential M&A opportunities as part of its growth strategy [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued organic growth despite some market softening, particularly in Europe [22][35] - The company anticipates strong demand in industrial markets and a stable quarter-over-quarter shipment rate moving forward [17][35] - Management noted that geopolitical concerns and energy prices are still impacting bookings, but strong backlogs remain [42] Other Important Information - The company will host its inaugural Investor and Analyst Day at NASDAQ on August 23, 2023 [19] - Capital expenditures for 2023 are now expected to range between $16 million and $20 million, down from previous estimates [15] Q&A Session Summary Question: Insights on current market conditions and order intake - Management acknowledged some softening in certain verticals but emphasized strong overall performance with a 20% revenue increase [22] Question: Concerns about inventory levels among customers - Management indicated that inventory levels vary by customer, with no major concerns about business loss [26] Question: Outlook on gross margin and supply chain costs - Management remains committed to achieving a 100 basis points improvement in gross margin and operating margin [30] Question: Confidence in organic growth for the second half of the year - Management expressed confidence in continued organic growth, with expectations of more stable quarter-over-quarter shipments [35] Question: Impact of geopolitical issues on European markets - Management noted some softness in bookings but strong backlogs, with energy prices and geopolitical events still affecting the market [42] Question: Performance of the vehicle business and commercial automotive market - Management indicated that while commercial automotive demand is increasing, agricultural equipment demand in Eastern Europe is a significant offset [44] Question: Status of new program launches and ramp schedules - Management confirmed that new program launches are progressing, albeit delayed due to COVID and supply chain issues [49] Question: Medical OEM side and inventory adjustments - Management reported stable performance in the medical sector, with no significant inventory adjustments observed [52]

Motion Solutions that Change the Game Second Quarter 2023 Financial Results Call August 3, 2023 ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Allied Motion Technologies Inc.'s unaudited condensed consolidated financial statements as of June 30, 2023, along with detailed accounting notes Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | June 30, 2023 (in thousands) | December 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $239,244 | $236,007 | | **Total Assets** | $585,494 | $588,347 | | **Total Current Liabilities** | $87,757 | $87,588 | | **Long-term Debt** | $227,106 | $235,454 | | **Total Liabilities** | $348,700 | $372,882 | | **Total Stockholders' Equity** | $236,794 | $215,465 | Condensed Consolidated Statements of Income Highlights (Unaudited) | Metric | Three Months Ended June 30, 2023 (in thousands) | Six Months Ended June 30, 2023 (in thousands) | | :--- | :--- | :--- | | **Revenues** | $146,769 | $292,318 | | **Gross Profit** | $45,977 | $91,811 | | **Operating Income** | $12,020 | $23,409 | | **Net Income** | $6,769 | $13,084 | | **Diluted EPS** | $0.42 | $0.81 | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Six Months Ended June 30, 2023 (in thousands) | Six Months Ended June 30, 2022 (in thousands) | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | $17,273 | $(290) | | **Net cash used in investing activities** | $(12,368) | $(50,923) | | **Net cash (used in) provided by financing activities** | $(11,092) | $58,781 | | **Net (decrease) increase in cash** | $(6,494) | $6,383 | - The company operates in a single segment, manufacturing and marketing controlled motion products. For the three months ended June 30, 2023, one customer accounted for **12%** of revenues and another for **10%**[95](index=95&type=chunk)[97](index=97&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail financial statement preparation, key accounting events like the FPH acquisition and Spectrum Controls payments, revenue disaggregation, debt covenants, and derivative hedging strategies - In Q2 2023, a measurement period adjustment for the FPH acquisition resulted in a **$1,356 thousand** increase to goodwill[24](index=24&type=chunk) - A deferred acquisition payment of **$12.5 million** for Spectrum Controls was paid in January 2023, with one final payment of **$12.5 million** due by January 2024[27](index=27&type=chunk) Revenue by Target Market (Six Months Ended June 30) | Target Market | 2023 (in thousands) | 2022 (in thousands) | | :--- | :--- | :--- | | Industrial | $128,845 | $92,911 | | Vehicle | $65,570 | $65,137 | | Medical | $44,562 | $41,513 | | Aerospace & Defense | $40,266 | $26,593 | | Distribution and Other | $13,075 | $11,353 | | **Total** | **$292,318** | **$237,507** | - The company's Amended Revolving Credit Facility of **$280 million** matures in February 2025 and is subject to financial covenants, including a minimum interest coverage ratio of **3.0 to 1.0** and a maximum leverage ratio. The company was in compliance with all covenants as of June 30, 2023[59](index=59&type=chunk)[61](index=61&type=chunk) - The company uses interest rate swaps to hedge variable-rate debt. As of June 30, 2023, swaps with a notional amount of **$100,000** were in place, maturing between December 2024 and December 2026[66](index=66&type=chunk)[142](index=142&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting revenue growth from volume and acquisitions, the impact of inflation and interest rates, and improved cash flow, affirming a strong liquidity position - The business environment in the first half of 2023 was characterized by inflation impacting input costs, a higher interest rate environment, and persistent supply chain disruptions[101](index=101&type=chunk) - A key near-term focus is the successful integration of six acquisitions completed in late 2021 and Q2 2022 to leverage synergies for future growth and profitability[103](index=103&type=chunk) - Bookings decreased in H1 2023 compared to H1 2022, primarily due to a normalization of customer order patterns as supply-chain constraints and longer lead times, which were significant in the prior year, have eased[107](index=107&type=chunk)[116](index=116&type=chunk) [Operating Results](index=25&type=section&id=Operating%20Results) The company achieved significant year-over-year growth in Q2 and H1 2023 revenue and net income, driven by volume increases and acquisitions, with improved gross margins Q2 2023 vs Q2 2022 Performance | Metric | Q2 2023 | Q2 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenues** | $146,769k | $122,722k | 20% | | **Gross Profit** | $45,977k | $39,774k | 16% | | **Operating Income** | $12,020k | $7,518k | 60% | | **Net Income** | $6,769k | $4,581k | 48% | | **Diluted EPS** | $0.42 | $0.29 | 45% | H1 2023 vs H1 2022 Performance | Metric | H1 2023 | H1 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenues** | $292,318k | $237,507k | 23% | | **Gross Profit** | $91,811k | $73,234k | 25% | | **Operating Income** | $23,409k | $11,783k | 99% | | **Net Income** | $13,084k | $7,084k | 85% | | **Diluted EPS** | $0.81 | $0.45 | 80% | - Organic revenue growth was **17%** for Q2 2023 and **21%** for the first six months of 2023[106](index=106&type=chunk)[115](index=115&type=chunk) - Interest expense increased **140%** in the first six months of 2023 compared to 2022, driven by higher average debt levels to fund acquisitions and increased interest rates[120](index=120&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with $24.1 million in cash, improved operating cash flow, reduced investing cash use, and $61.2 million available under its credit facility Cash Flow Summary (Six Months Ended June 30) | Activity | 2023 (in thousands) | 2022 (in thousands) | | :--- | :--- | :--- | | **Net cash from Operating Activities** | $17,273 | $(290) | | **Net cash used in Investing Activities** | $(12,368) | $(50,923) | | **Net cash from Financing Activities** | $(11,092) | $58,781 | - The increase in operating cash flow in H1 2023 is primarily due to increased sales and more efficient conversion of working capital as supply chain constraints eased[134](index=134&type=chunk) - As of June 30, 2023, the company had **$218.8 million** outstanding under its Amended Revolving Facility and **$61.2 million** available for borrowing[135](index=135&type=chunk)[137](index=137&type=chunk) - The company believes its existing cash, flexible credit agreement, and anticipated operating cash flows are more than sufficient to meet its cash needs for the next twelve months[138](index=138&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages market risks from foreign currency fluctuations and interest rates through hedging strategies, including foreign currency contracts and interest rate swaps for variable-rate debt - A hypothetical **10%** change in the U.S. dollar value would have impacted sales by approximately **$4.9 million** for Q2 2023 and **$10.0 million** for H1 2023[139](index=139&type=chunk) - To mitigate foreign currency risk, the company held foreign currency contracts with notional amounts of **$17.9 million** at June 30, 2023[65](index=65&type=chunk)[141](index=141&type=chunk) - The company has interest rate swaps hedging **$100 million** of its variable-rate debt. A hypothetical **1%** change in interest rates on the unhedged portion of debt (**$118.8 million**) would impact interest expense by approximately **$0.3 million** for the quarter[143](index=143&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal control over financial reporting - As of June 30, 2023, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[145](index=145&type=chunk) - No changes occurred in internal control over financial reporting during the quarter ended June 30, 2023, that would be reasonably likely to have a material effect[146](index=146&type=chunk) PART II. OTHER INFORMATION [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's 2022 Annual Report on Form 10-K have been reported - The company reports no material changes to the risk factors disclosed in its 2022 Annual Report on Form 10-K[147](index=147&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2023, the company withheld 39,007 shares at an average price of $38.63 to satisfy employee tax withholding obligations for vested stock awards Issuer Purchases of Equity Securities (Q2 2023) | Period | Number of Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2023 | 38,774 | $38.65 | | May 2023 | 233 | $35.37 | | June 2023 | 0 | N/A | | **Total** | **39,007** | **$38.63** | - Shares purchased were withheld by the company to satisfy tax withholding obligations in connection with the vesting of employee stock awards and are not part of a formal stock repurchase plan[149](index=149&type=chunk) [Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL taxonomy documents - Exhibits filed include CEO and CFO certifications under Sarbanes-Oxley Sections 302 and 906, as well as various Inline XBRL files[150](index=150&type=chunk)

Allied Motion Technologies Inc. (AMOT) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET Company Participants Craig Mychajluk - Investor Relations Dick Warzala - Chairman, President & Chief Executive Officer Mike Leach - Chief Financial Officer Conference Call Participants Greg Palm - Craig-Hallum Capital Group Ted Jackson - Northland Securities Operator Good day and welcome to the Allied Motion Technologies First Quarter Fiscal Year 2023 Financial Results Conference Call. [Operator Instructions] Ple ...