BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Tuesday reported second-quarter net income of $406.9 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had net income of $1.77. Earnings, adjusted for one-time gains and costs, came to $2.09 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $2.04 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.96 billion.
For the current quarter ending in September, Ametek expects its per-share earnings to range from $2.08 to $2.10.
The company expects full-year earnings in the range of $8.20 to $8.30 per share.
Ametek shares have risen 19% since the beginning of the year, while the S&P’s 500 index has increased 11%. The stock has climbed 34% 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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