BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Tuesday reported fourth-quarter profit of $398.6 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of $1.73. Earnings, adjusted for non-recurring costs, came to $2.01 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $2 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.95 billion.
For the year, the company reported profit of $1.48 billion, or $6.40 per share. Revenue was reported as $7.4 billion.
For the current quarter ending in March, Ametek expects its per-share earnings to range from $1.85 to $1.90.
The company expects full-year earnings in the range of $7.87 to $8.07 per share.
Ametek shares have risen 11% since the beginning of the year, while the S&P’s 500 index has climbed nearly 2%. The stock has increased 23% 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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