Amtek: 2Q Earnings Snapshot
BERWYN, Pa. (AP) _ Amtek Inc. (AME) on Tuesday reported second-quarter profit of $215.5 million.
The Berwyn, Pennsylvania-based company said it had profit of 94 cents per share. Earnings, adjusted for amortization costs, came to $1.05 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.29 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.32 billion.
For the current quarter ending in October, Amtek expects its per-share earnings to range from $1 to $1.02.
The company expects full-year earnings in the range of $4.04 to $4.10 per share.
Amtek shares have risen 31% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has climbed 15% in the last 12 months.