Allied Motion reports Q2 adjusted EPS 58c, consensus 56c

Reports Q2 revenue $146.8M, consensus $145.9M. “Driving overall margin improvement continues to be an emphasis within Allied and while we did experience a slight contraction in our gross margin, primarily due to mix, our operating leverage improvements delivered record operating income of $12.0 million and a 210 basis point improvement for the quarter. Once again, we delivered record sales and strong organic growth of 17% for the quarter. Industrial Markets were up 39% over last year’s second quarter, largely driven by industrial automation projects and power quality solutions. Solid demand from our other target market verticals also contributed to our overall sales growth in the quarter,” commented Dick Warzala, Chairman and CEO.