AMHERST, N.Y. (AP) — AMHERST, N.Y. (AP) — Allient Inc. (ALNT) on Wednesday reported second-quarter net income of $10.4 million.
On a per-share basis, the Amherst, New York-based company said it had net income of 61 cents. Earnings, adjusted for amortization costs and restructuring costs, were 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The motion control product maker posted revenue of $153.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $146.3 million.
Allient shares have climbed 73% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $93.25, 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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