Amtek: 2Q Earnings Snapshot
BERWYN, Pa. (AP) _ Amtek Inc. (AME) on Tuesday reported second-quarter net income of $193.9 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of 83 cents.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.21 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.18 billion.
Amtek expects full-year earnings to be $3.16 to $3.20 per share.
Amtek shares have increased 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 5 percent. The stock has risen 23 percent in the last 12 months.