BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Tuesday reported fourth-quarter profit of $387.3 million.
The Berwyn, Pennsylvania-based company said it had profit of $1.67 per share. Earnings, adjusted for amortization costs, came to $1.87 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.76 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.81 billion.
For the year, the company reported profit of $1.38 billion, or $5.93 per share. Revenue was reported as $6.94 billion.
For the current quarter ending in March, Ametek expects its per-share earnings to range from $1.67 to $1.69.
The company expects full-year earnings in the range of $7.02 to $7.18 per share.
Ametek shares have risen 2% since the beginning of the year, while the S&P's 500 index has climbed 26%. The stock has increased 11% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AME at https://www.zacks.com/ap/AME
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.