AMHERST, N.Y. (AP) — AMHERST, N.Y. (AP) — Allient Inc. (ALNT) on Thursday reported fourth-quarter net income of $6.4 million.
The Amherst, New York-based company said it had profit of 38 cents per share. Earnings, adjusted for amortization costs and restructuring costs, came to 55 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The motion control product maker posted revenue of $143.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $133.8 million.
For the year, the company reported profit of $22 million, or $1.32 per share. Revenue was reported as $554.5 million.
Allient shares have increased 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $62.07, more than doubling 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 ALNT at https://www.zacks.com/ap/ALNT
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