BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Thursday reported third-quarter earnings of $371.4 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had net income of $1.60. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.89 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.89 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.82 billion.
For the current quarter ending in December, Ametek expects its per-share earnings to range from $1.90 to $1.95.
The company expects full-year earnings in the range of $7.32 to $7.37 per share.
Ametek shares have climbed 2% since the beginning of the year, while the S&P’s 500 index has climbed 17%. The stock has increased 10% 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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