AMHERST, N.Y. (AP) — AMHERST, N.Y. (AP) — Allient Inc. (ALNT) on Wednesday reported first-quarter profit of $3.6 million.
On a per-share basis, the Amherst, New York-based company said it had profit of 21 cents. Earnings, adjusted for amortization costs and restructuring costs, came to 46 cents per share.
The motion control product maker posted revenue of $132.8 million in the period.
Allient shares have dropped nearly 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.12, a fall of 30% in the last 12 months.
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