BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Thursday reported second-quarter profit of $358.4 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of $1.55. Earnings, adjusted for amortization costs, came to $1.78 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.78 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.73 billion.
For the current quarter ending in September, Ametek expects its per-share earnings to range from $1.72 to $1.76.
The company expects full-year earnings in the range of $7.06 to $7.20 per share.
Ametek shares have decreased nearly 2% since the beginning of the year, while the S&P’s 500 index has climbed 8%. The stock has risen nearly 3% 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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