Allied Motion Q4 Sales Drop 18% From A Year Earlier

Foreign exchange had a heavy negative impact on the company throughout 2015, while weakened demand – especially in the vehicle market – made last year an uphill climb for Allied Motion.

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.

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