Allied Motion Sales Down 1.6% in 1Q - Modern Distribution Management

Allied Motion Sales Down 1.6% in 1Q

The decline reflected lower sales to the Vehicle market, partially offset by growth in Industrial and Medical, which included contributions from Dynamic Controls.

Motion control manufacturer Allied Motion Technologies Inc. (NASDAQ: AMOT), Amherst, New York, reported sales for the first quarter of $92.4 million was down 1.6%, and reflected lower sales to the Vehicle market, partially offset by growth in Industrial and Medical, which included contributions from Dynamic Controls. Organic revenue declined 2.8% in the quarter. First quarter net income was $4 million

Dick Warzala, chairman and CEO, commented, “The business impact due to COVID-19 started in March and was primarily related to a decline in demand in our Vehicle markets. As we worked through the various issues caused by COVID-19, our first and foremost commitment was to our workforce and to ensure the health and safety of all employees and their families. I personally want to thank our global management team and all our employees who worked tirelessly together to create a safe environment, while at the same time making the necessary adjustments to ensure the needs of our customers were continuing to be met. Wherever possible, our team is working remotely, and our manufacturing operations have continued to produce under stringent practices to protect our employees. I believe we will come out of this crisis stronger and better than ever as we operate within the guiding principles of our One Allied Culture and the focus provided by our Long-Term Strategy.”

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!