BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Thursday reported first-quarter earnings of $399.4 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of $1.74. Earnings, adjusted for one-time gains and costs, came to $1.97 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.93 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.92 billion.
For the current quarter ending in June, Ametek expects its per-share earnings to range from $1.96 to $2.
The company expects full-year earnings in the range of $7.94 to $8.14 per share.
Ametek shares have climbed 11% since the beginning of the year, while the S&P’s 500 index has risen 4%. The stock has increased 36% in the last 12 months.
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