BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Thursday reported first-quarter net income of $310.9 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of $1.34. Earnings, adjusted for non-recurring costs, were $1.64 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.74 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.78 billion.
For the current quarter ending in June, Ametek expects its per-share earnings to range from $1.63 to $1.65.
The company expects full-year earnings in the range of $6.74 to $6.86 per share.
Ametek shares have risen 5.5% since the beginning of the year, while the S&P’s 500 index has climbed 5%. The stock has risen 25% 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
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