Allied Motion Technologies Inc., Denver, CO, sales for 2008 of $86 million, an increase of 2% over 2007. Profit increased 21% to $2.9 million.
During the fourth quarter, sales were $17.6 million, down 17% from the prior year period. Profit was $280,000, compared to $648,000 during fourth quarter 2007.
While we were able to achieve continuous improvements in sales and profit through our third quarter, the economic downturn caught up to us in the fourth quarter resulting in a drop in sales and profit compared to last year and to the third quarter, CEO Dick Smith said. “We have and will continue to take actions to try and mitigate the adverse effects this economic downturn has on the Company. While the economy is down, we will continue to …
Allied Motion 2008 Sales Up 2%
Allied Motion Technologies Inc., Denver, CO, sales for 2008 of $86 million, an increase of 2% over 2007. Profit increased 21% to $2.9 million.
During the fourth quarter, sales were $17.6 million, down 17% from the prior year period. Profit was $280,000, compared to $648,000 during fourth quarter 2007.
While we were able to achieve continuous improvements in sales and profit through our third quarter, the economic downturn caught up to us in the fourth quarter resulting in a drop in sales and profit compared to last year and to the third quarter, CEO Dick Smith said. “We have and will continue to take actions to try and mitigate the adverse effects this economic downturn has on the Company. While the economy is down, we will continue to …
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