The fourth quarter and full 2020 report of Allied Motion Technologies Inc. (AMOT) have revealed a record number of orders. Allied Motion’s revenue grew by 6% YoY to $ 93 million in the fourth quarter. Net income was $ 2.7 million, or $ 0.28 per share, compared to $ 3.5 million and $ 0.37 a year ago.
Amid the COVID-19 crisis, total revenue fell 1% in 2020 to $ 366.7 million. However, the order book reached a record $ 141.3 million in value at the end of the year. In 2018, the net profit was $ 14.3 million, or $1.5 per share, while in 2019, it was $ 18 million and $1.9. The amount of cash and equivalents increased by more than 50% to $23.1 million.
Allied Motion is a reliable supplier of electric motors for various uses, including transportation. The product line includes many different electric motors, such as those used indoors, ramps, etc., up to large electric motors able to run at higher power. Aside from engines with military specifications, Allied Motion also supplies electric motors.
A lot of Allied Motion products are now electric actuators instead of hydraulic or manual actuators. Allied Motion’s other strengths are its motor control drivers and its engineering team to design special applications systems.
Over the past year, the share price of AMOT has increased by 64.12%. For the last five trades, the stock price grew 15.89%, and for the previous 30 trades, it rose 12.06%. Nevertheless, the share price rose by 32.31% during the previous six months and increased by 9.47% in the last three months.