AMHERST, N.Y. (AP) — AMHERST, N.Y. (AP) — Allient Inc. (ALNT) on Wednesday reported first-quarter profit of $6.9 million.
The Amherst, New York-based company said it had net income of 42 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 58 cents per share.
The motion control product maker posted revenue of $146.7 million in the period.
Allient shares have risen slightly more than 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.20, a fall of 10% in the last 12 months.
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