Allied Motion Technologies Inc. (NASDAQ:AMOT) reported Friday a second-quarter profit over a year ago loss, as record-high new orders drove revenue up 43%.
The motion control maker posted net income of $739,000, or 9 cents a share, compared with a loss of $12.1 million, or $1.60 a share, in the same quarter last year.
Revenue for the Denver company was just under $20 million, up 43% from $13.9 million a year ago.
Allied Motion CEO Dick Warzala said he was “pleased” with improvements in sales and profits, driven by record new orders.
“We reported in the first quarter of 2010 that our bookings exceeded the previous all time high achieved in the first quarter of 2006 and we were quickly able to break that record again this quarter,” he said, noting sales increased in a majority of its market segments, which subsequently improved backlog levels.
The company also saw gains from its June acquisition of Agile Systems and the formation of the new Allied Motion Canada operation.