Motion control components and systems provider Allied Motion reported its 2015 fourth quarter and full year fiscal results on Wednesday, showing considerable sales and profit declines from a year earlier, driven by weakened demand.
Q4 sales for the Amherst, NY-based company of $50.8 million were down 17.9 percent year-over-year. Excluding currency headwinds, Q4 sales declined 14 percent YOY. Allied Motion said the decline "reflects the impact of sluggish demand in a number of the U.S. target markets, particularly in the Vehicle market, which experienced order push-outs and delays from the fourth quarter of 2015 into 2016."
The company posted a Q4 profit of $0.7 million, compared to $4.9 million a year earlier.
For the full year 2015, sales of $232.4 million were down 6.9 percent from 2014. Excluding currency headwinds, sales were down 0.8 percent. Profit in 2015 was $11.1 million, down from $13.9 million in 2014.