Altra Reports Second-Quarter 2018 Results
Altra Industrial Motion Corp. (AIMC)
Last altra industrial motion corp. earnings: 4/30 07:00 am
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US:NASDAQ Investor Relations:
ir.altramotion.com/investor-relations
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Source: GlobeNewswire
BRAINTREE, Mass., July 26, 2018 (GLOBE NEWSWIRE) -- Altra Industrial Motion Corp. (Nasdaq:AIMC), a global manufacturer and marketer of electromechanical power transmission and motion control products, today announced unaudited financial results for the second quarter ended June 30, 2018. Second-Quarter Financial Highlights Net sales were $237.3 million, up 6.2% from $223.4 million in the second quarter of 2017. Excluding the positive impact of foreign currency translation, net sales were up 2.9% from the same quarter of 2017.Net income increased 23.4% to $19.0 million, or $0.65 per diluted share, from $15.4 million, or $0.53 per diluted share, in the second quarter of 2017.Non-GAAP net income grew 25.3% to $20.8 million, or $0.71 per diluted share, from $16.6 million, or $0.57 per diluted share, a year ago.* Free cash flow increased 23.5% to $14.2 million year to date compared to the same period last year.* Management Comments “Our strong momentum continued in th
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