Allied Motion Reports Third Quarter 2020 Results

  • Strong demand in Medical market drove total quarterly revenue of $94.7 million, up 9% over the sequential second quarter 2020
  • Operating margin expanded 100 basis points sequentially from operating leverage on higher volume
  • Strong cash generation: Cash from operations of $8.4 million in the quarter and $5.5 million of free cash flow*
  • Strengthening balance sheet: Paid down $4.4 million of debt in the quarter

    *Free cash flow is a non-GAAP metric defined as cash flow from operations less capital expenditures of $2.9 million

AMHERST, N.Y.--()--Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or “Company”), a designer and manufacturer that sells precision and specialty controlled motion products and solutions to the global market, today reported financial results for its third quarter ended September 30, 2020. Results include the Dynamic Controls Group (“Dynamic Controls”) acquisition that was completed on March 7, 2020.

Our global team continues to perform very well in the face of uncertainty. Our third quarter results demonstrated the tremendous focus and dedication of our employees and is reflective of our diverse market channel strategy. Continued strong demand in our Medical market and a rebound in our Vehicle market were met with superior execution, resulting in sales growth of 9% sequentially, and nearly offset the impact of the pandemic on our other markets on a year-over-year basis for the third quarter,” commented Dick Warzala, Chairman and CEO. “We continued to improve our financial strength, generating cash to pay down debt while making the necessary investments to drive momentum and emerge in an even stronger position.”

He added, “Given the recent global uptick in COVID-19 positive test results, we remain diligent in our actions to ensure the ongoing safety of our workforce, and we continue to closely monitor the potential impacts on our business and our served markets. Moving forward, we will continue to focus on areas that we can control, including proactive new product development to address the emerging needs of our served markets, optimally meeting the requirements of several new project opportunities, and last, but not least, utilizing our AST Toolkit to drive continuous improvement in all areas of our business.”

Third Quarter 2020 Results (Narrative compares with prior-year period unless otherwise noted)

Revenue of $94.7 million was down 2%, reflecting lower sales to most markets given the ongoing impact from the pandemic. Mostly offsetting that decline was strong demand in the Medical markets, which increased more than 60% and included the contribution from Dynamic Controls. The third quarter also benefited from a strong rebound in the Vehicle market. When compared with the second quarter of 2020, revenue increased 9% driven by a very strong and measurable increase in demand in the Vehicle market. The impact of foreign currency exchange rate fluctuations was favorable by $1.8 million for the third quarter. Revenue excluding the effect of foreign currency translation is a non-GAAP measure. The Company believes this measure is useful for analyzing organic sales results. See the attached table for a description of non-GAAP financial measures and reconciliation of Revenue to Revenue excluding foreign currency translation.

Gross margin in the quarter was 29.7% compared with 31.1% in the third quarter of 2019. The change reflects lower revenue and an unfavorable mix.

Operating costs and expenses as a percent of revenue were 22.9%, up 100 basis points, largely due to lower revenue and incremental expenses related to Dynamic Controls. As a result, operating income declined to $6.5 million or 6.8% of sales. Operating margin expanded 100 basis points sequentially from operating leverage on higher volume.

Third quarter net income was $4.0 million, or $0.42 per diluted share, compared with $4.6 million, or $0.49 per diluted share, in the 2019 third quarter. The effective tax rate for the quarter was 25.4%. Allied Motion expects its income tax rate for full year 2020 to range between 27% to 29%.

Earnings before interest, taxes, depreciation, amortization, stock-based compensation expense, business development costs, and non-income based tax assessment (“Adjusted EBITDA”) was $11.2 million for the third quarter compared with $13.6 million in 2019. As a percent of sales, Adjusted EBITDA was 11.8% versus 14.1%. The Company believes that, when used in conjunction with measures prepared in accordance with U.S. generally accepted accounting principles, Adjusted EBITDA, which is a non-GAAP measure, helps in the understanding of its operating performance. See the attached table for a description of non-GAAP financial measures and reconciliation table for Adjusted EBITDA.

Year-to-Date 2020 Results (Narrative compares with prior-year period unless otherwise noted)

Revenue of $273.7 million was down $9.5 million, or 3%, reflecting strong growth in Medical of almost 60%, which was offset by a decline in demand in all other market verticals resulting from the global economic impact of the COVID-19 pandemic. The impact of FX fluctuations was unfavorable $1.0 million for the year-to-date period. Sales to U.S. customers were 53% of total sales compared with 57% for the same period last year, with the balance of sales to customers primarily in Europe, Canada and Asia.

Gross margin was 30.2% compared with 30.4% in the 2019 period as productivity, cost containment efforts and the favorable impact of Dynamic Controls helped to mostly offset the impact of lower revenue.

Operating costs and expenses as a percent of revenue were 23.5%, up 150 basis points, largely driven by the addition of Dynamic Controls and higher business development costs. As a result, operating margin declined 170 basis points to 6.7%.

Net income of $10.9 million declined $2.6 million, while adjusted EBITDA was $32.7 million, or 11.9% of sales, compared with $37.5 million or 13.3% of sales.

Balance Sheet and Cash Flow Review

Cash and cash equivalents were $20.2 million compared with $13.4 million at the end of 2019. The Company generated net cash from operations of $8.4 million in the third quarter and $15.0 million for the year-to-date period.

In the quarter, the Company paid down $4.4 million in debt with no incremental borrowings. At the end of the quarter total debt was $124.4 million. Compared with year-end 2019, total debt was up $14.6 million, reflecting $26 million in borrowings to acquire Dynamic Controls in March 2020. Debt, net of cash, was $104.2 million, or 43.7% of net debt to capitalization.

Year-to-date capital expenditures were $6.6 million. As a result of the decision to delay certain projects, capital expenditures for full year 2020 were adjusted down to range between $9 million to $11 million from the previous range of $10 million to $12 million. This level continues to enable all key projects to move forward, while deferring lower priority activities.

Orders and Backlog Summary ($ in thousands)

 

Q3 2020

Q2 2020

Q1 2020

Q4 2019

Q3 2019

Orders

$

88,958

 

$

80,365

 

$

92,923

 

$

86,315

 

$

90,726

Backlog

$

123,700

 

$

127,701

 

$

133,187

 

$

124,950

 

$

125,821

Foreign currency translation had a favorable $1.7 million impact on third quarter orders compared with the prior-year period. The time to convert the majority of backlog to sales is approximately three to six months. A nominal amount of the previously announced $325 million of Vehicle market awards is currently included in backlog. The Company has begun shipments at very low levels for the first of four, seven-year awards, though given the COVID-19 situation, production for the initial projects are not expected to gain traction until 2021.

Conference Call and Webcast

The Company will host a conference call and webcast on Thursday, November 5, 2020 at 10:00 am ET. During the conference call, management will review the financial and operating results and discuss Allied Motion’s corporate strategy and outlook. A question and answer session will follow.

To listen to the live call, dial (201) 689-8263. In addition, the webcast and slide presentation may be found at: www.alliedmotion.com/investor-relations

A telephonic replay will be available from 1:00 pm ET on the day of the call through Thursday, November 12, 2020. To listen to the archived call, dial (412) 317-6671 and enter replay pin number 13710949 or access the webcast replay via the Company’s website. A transcript will also be posted to the website once available.

About Allied Motion Technologies Inc.

Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision and specialty controlled motion products and solutions used in a broad range of industries within our major served markets, which include Vehicle, Medical, Aerospace & Defense, and Industrial. Headquartered in Amherst, NY, the Company has global operations and sells into markets across the United States, Canada, South America, Europe and Asia.

Allied Motion is focused on controlled motion applications and is known worldwide for its expertise in electro-magnetic, mechanical and electronic motion technology. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gear motors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, and other controlled motion-related products.

The Company’s growth strategy is focused on being the controlled motion solutions leader in its selected target markets by leveraging its “technology/know how” to develop integrated precision solutions that utilize multiple Allied Motion technologies to “change the game” and create higher value solutions for its customers. The Company routinely posts news and other important information on its website at www.alliedmotion.com.

Safe Harbor Statement

The statements in this news release and in the Company’s November 5, 2020 conference call that relate to future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements. Examples of forward-looking statements include, among others, statements the Company makes regarding expected operating results, anticipated levels of capital expenditures, the Company’s belief that it has sufficient liquidity to fund its business operations, and expectations with respect to the conversion of backlog to sales. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of the Company’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the impact of changes in income tax rates or policies, the severity, magnitude and duration of the COVID-19 pandemic, including impacts of the pandemic and of businesses’ and governments’ responses to the pandemic on our operations and personnel, and on commercial activity and demand across our and our customers’ businesses, and on global supply chains; our inability to predict the extent to which the COVID-19 pandemic and related impacts will continue to adversely impact our business operations, financial performance, results of operations, financial position, the prices of our securities and the achievement of our strategic objectives and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict the occurrence of those matters or the manner in which they may affect us. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.

FINANCIAL TABLES FOLLOW

ALLIED MOTION TECHNOLOGIES INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(In thousands, except per share data)

(Unaudited)

 

 

 

For the three
months ended

 

For the nine
months ended

 

 

 

September 30,

 

September 30,

 

 

 

2020

 

2019

 

2020

 

2019

 

Revenue

 

$

94,653

 

 

$

96,633

 

 

$

273,696

 

 

$

283,159

 

 

Cost of goods sold

 

 

66,513

 

 

 

66,603

 

 

 

191,054

 

 

 

197,045

 

 

Gross profit

 

 

28,140

 

 

 

30,030

 

 

 

82,642

 

 

 

86,114

 

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling

 

 

3,734

 

 

 

4,144

 

 

 

11,819

 

 

 

12,373

 

 

General and administrative

 

 

10,008

 

 

 

9,932

 

 

 

28,880

 

 

 

28,451

 

 

Engineering and development

 

 

6,434

 

 

 

5,705

 

 

 

18,865

 

 

 

17,188

 

 

Business development

 

 

8

 

 

 

8

 

 

 

432

 

 

 

64

 

 

Amortization of intangible assets

 

 

1,499

 

 

 

1,429

 

 

 

4,423

 

 

 

4,291

 

 

Total operating costs and expenses

 

 

21,683

 

 

 

21,218

 

 

 

64,419

 

 

 

62,367

 

 

Operating income

 

 

6,457

 

 

 

8,812

 

 

 

18,223

 

 

 

23,747

 

 

Other expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

844

 

 

 

1,359

 

 

 

2,799

 

 

 

3,974

 

 

Other expense, net

 

 

231

 

 

 

140

 

 

 

307

 

 

 

121

 

 

Total other expense, net

 

 

1,075

 

 

 

1,499

 

 

 

3,106

 

 

 

4,095

 

 

Income before income taxes

 

 

5,382

 

 

 

7,313

 

 

 

15,117

 

 

 

19,652

 

 

Provision for income taxes

 

 

(1,369

)

 

 

(2,695

)

 

 

(4,173

)

 

 

(6,119

)

 

Net income

 

$

4,013

 

 

$

4,618

 

 

$

10,944

 

 

$

13,533

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

$

0.42

 

 

$

0.49

 

 

$

1.15

 

 

$

1.44

 

 

Basic weighted average common shares

 

 

9,514

 

 

 

9,414

 

 

 

9,487

 

 

 

9,390

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share

 

$

0.42

 

 

$

0.49

 

 

$

1.15

 

 

$

1.43

 

 

Diluted weighted average common shares

 

 

9,579

 

 

 

9,464

 

 

 

9,539

 

 

 

9,435

 

 

Net income

 

$

4,013

 

 

$

4,618

 

 

$

10,944

 

 

$

13,533

 

 

Foreign currency translation adjustment

 

 

3,433

 

 

 

(2,369

)

 

 

2,937

 

 

 

(2,708

)

 

Gain (loss) on derivatives

 

 

70

 

 

 

(105

)

 

 

(1,347

)

 

 

(803

)

 

Comprehensive income

 

$

7,516

 

 

$

2,144

 

 

$

12,534

 

 

$

10,022

 

 

ALLIED MOTION TECHNOLOGIES INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

(Unaudited)

 

 

 

September 30,

 

December 31,

 

 

 

2020

 

2019

 

Assets

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

20,227

 

 

$

13,416

 

 

Trade receivables, net of provision for credit losses of $580 and allowance for doubtful accounts of $405 at September 30, 2020 and December 31, 2019, respectively

 

 

51,265

 

 

 

44,429

 

 

Inventories

 

 

61,643

 

 

 

53,385

 

 

Prepaid expenses and other assets

 

 

6,620

 

 

 

4,413

 

 

Total current assets

 

 

139,755

 

 

 

115,643

 

 

Property, plant and equipment, net

 

 

54,058

 

 

 

53,008

 

 

Deferred income taxes

 

 

895

 

 

 

490

 

 

Intangible assets, net

 

 

66,366

 

 

 

62,497

 

 

Goodwill

 

 

60,460

 

 

 

52,935

 

 

Right of use assets

 

 

18,115

 

 

 

16,420

 

 

Other long-term assets

 

 

4,202

 

 

 

4,835

 

 

Total Assets

 

$

343,851

 

 

$

305,828

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

 

$

29,312

 

 

$

23,640

 

 

Accrued liabilities

 

 

22,821

 

 

 

23,001

 

 

Total current liabilities

 

 

52,133

 

 

 

46,641

 

 

Long-term debt

 

 

124,387

 

 

 

109,765

 

 

Deferred income taxes

 

 

4,721

 

 

 

3,399

 

 

Pension and post-retirement obligations

 

 

5,229

 

 

 

5,139

 

 

Right of use liabilities

 

 

14,643

 

 

 

13,715

 

 

Other long-term liabilities

 

 

8,346

 

 

 

7,975

 

 

Total liabilities

 

 

209,459

 

 

 

186,634

 

 

Stockholders’ Equity:

 

 

 

 

 

 

 

Common stock, no par value, authorized 50,000 shares; 9,757 and 9,599 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively

 

 

40,674

 

 

 

37,136

 

 

Preferred stock, par value $1.00 per share, authorized 5,000 shares; no shares issued or outstanding

 

 

 

 

 

 

 

Retained earnings

 

 

102,659

 

 

 

92,589

 

 

Accumulated other comprehensive loss

 

 

(8,941

)

 

 

(10,531

)

 

Total stockholders’ equity

 

 

134,392

 

 

 

119,194

 

 

Total Liabilities and Stockholders’ Equity

 

$

343,851

 

 

$

305,828

 

 

ALLIED MOTION TECHNOLOGIES INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

 

For the nine months
ended

 

 

 

September 30,

 

 

 

2020

 

2019

 

Cash Flows From Operating Activities:

 

 

 

 

 

 

 

Net income

 

$

10,944

 

 

$

13,533

 

 

Adjustments to reconcile net income to net cash provided by operating activities

 

 

 

 

 

 

 

Depreciation and amortization

 

 

11,682

 

 

 

11,071

 

 

Deferred income taxes

 

 

(931

)

 

 

(563

)

 

Stock-based compensation expense

 

 

2,640

 

 

 

2,374

 

 

Debt issue cost amortization recorded in interest expense

 

 

109

 

 

 

131

 

 

Other

 

 

360

 

 

 

581

 

 

Changes in operating assets and liabilities, net of acquisition:

 

 

 

 

 

 

 

Trade receivables

 

 

(2,136

)

 

 

(13,643

)

 

Inventories

 

 

(4,575

)

 

 

1,664

 

 

Prepaid expenses and other assets

 

 

(725

)

 

 

(232

)

 

Accounts payable

 

 

492

 

 

 

(727

)

 

Accrued liabilities

 

 

(2,840

)

 

 

2,815

 

 

Net cash provided by operating activities

 

 

15,020

 

 

 

17,004

 

 

 

 

 

 

 

 

 

 

Cash Flows From Investing Activities:

 

 

 

 

 

 

 

Purchase of property and equipment

 

 

(6,560

)

 

 

(9,280

)

 

Cash paid for acquisitions, net of cash acquired

 

 

(14,728

)

 

 

 

 

Net cash used in investing activities

 

 

(21,288

)

 

 

(9,280

)

 

 

 

 

 

 

 

 

 

Cash Flows From Financing Activities:

 

 

 

 

 

 

 

Borrowings on long term debt

 

 

26,979

 

 

 

9,091

 

 

Principal payments of long-term debt

 

 

(12,299

)

 

 

(15,000

)

 

Payment of debt issuance costs

 

 

(401

)

 

 

 

 

Dividends paid to stockholders

 

 

(875

)

 

 

(887

)

 

Stock transactions under employee benefit stock plans

 

 

(814

)

 

 

(717

)

 

Net cash provided by (used in) financing activities

 

 

12,590

 

 

 

(7,513

)

 

Effect of foreign exchange rate changes on cash

 

 

489

 

 

 

(306

)

 

Net increase (decrease) in cash and cash equivalents

 

 

6,811

 

 

 

(95

)

 

Cash and cash equivalents at beginning of period

 

 

13,416

 

 

 

8,673

 

 

Cash and cash equivalents at end of period

 

$

20,227

 

 

$

8,578

 

 

ALLIED MOTION TECHNOLOGIES INC.
Reconciliation of Non-GAAP Financial Measures
(In thousands)
(Unaudited)

In addition to reporting revenue and net income, which are U.S. generally accepted accounting principle (“GAAP”) measures, the Company presents Revenue excluding foreign currency exchange rate impacts, and EBITDA and Adjusted EBITDA (earnings before interest, income taxes, depreciation and amortization, stock-based compensation expense, business development costs, and non-income based tax assessment), which are non-GAAP measures.

The Company believes that Revenue excluding foreign currency exchange rate impacts is a useful measure in analyzing organic sales results. The Company excludes the effect of currency translation from revenue for this measure because currency translation is not under management’s control, is subject to volatility and can obscure underlying business trends. The portion of revenue attributable to currency translation is calculated as the difference between the current period revenue and the current period revenue after applying foreign exchange rates from the prior period.

The Company believes EBITDA and Adjusted EBITDA are often a useful measure of a Company’s operating performance and are a significant basis used by the Company’s management to evaluate and compare the core operating performance of its business from period to period by removing the impact of the capital structure (interest), tangible and intangible asset base (depreciation and amortization), taxes, stock-based compensation expense, business development costs related to acquisitions, and other items that are not indicative of the Company’s core operating performance. EBITDA and Adjusted EBITDA do not represent and should not be considered as an alternative to net income, operating income, net cash provided by operating activities or any other measure for determining operating performance or liquidity that is calculated in accordance with generally accepted accounting principles.

The Company’s calculation of Revenue excluding foreign currency exchange impacts for the three and nine months ended September 30, 2020 is as follows:

Three Months Ended

 

Nine Months Ended

September 30, 2020

 

September 30, 2020

Revenue as reported

$

94,653

 

 

$

273,696

Currency impact

 

(1,833

)

 

 

971

Revenue excluding foreign currency exchange impacts

$

92,820

 

 

$

274,667

The Company’s calculation of Adjusted EBITDA for the three and nine months ended September 30, 2020 and 2019 is as follows:

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2020

 

2019

 

2020

 

2019

Net income

 

$

4,013

 

$

4,618

 

$

10,944

 

$

13,533

Interest expense

 

 

844

 

 

1,359

 

 

2,799

 

 

3,974

Provision for income taxes

 

 

1,369

 

 

2,695

 

 

4,173

 

 

6,119

Depreciation and amortization

 

 

4,055

 

 

3,744

 

 

11,682

 

 

11,071

EBITDA

 

 

10,281

 

 

12,416

 

 

29,598

 

 

34,697

Stock-based compensation expense

 

 

920

 

 

833

 

 

2,640

 

 

2,374

Business development costs

 

 

8

 

 

8

 

 

432

 

 

64

Non-income based tax assessment

 

 

-

 

 

384

 

 

-

 

 

384

Adjusted EBITDA

 

$

11,209

 

$

13,641

 

$

32,670

 

$

37,519

ALLIED MOTION TECHNOLOGIES INC.
Reconciliation of GAAP Net Income and Diluted Earnings per Share to
Non-GAAP Adjusted Net Income and Diluted Earnings per Share
(In thousands, except per share data)
(Unaudited)

The Company’s calculation of Adjusted net income and Adjusted diluted earnings per share for the three and nine months ended September 30, 2020 and 2019 is as follows:

Three Months Ended

 

Nine Months Ended

September 30,

 

September 30,

2020

 

Per
diluted
share

 

2019

 

Per
diluted
share

 

2020

 

Per
diluted
share

 

2019

 

Per
diluted
share

Net income as reported

$

4,013

 

$

0.42

$

4,618

 

$

0.49

$

10,944

 

$

1.15

$

13,533

 

$

1.43

Non-GAAP adjustments, net of tax

       

Non-income based tax assessment

 

 

-

 

 

-

 

 

384

 

 

0.04

 

 

-

 

 

-

 

 

384

 

 

0.04

Income tax provision charge

 

 

-

 

 

-

 

 

433

 

 

0.05

 

 

-

 

 

-

 

 

433

 

 

0.05

Business development costs

 

6

 

 

0.00

 

-

 

 

-

 

313

 

 

0.03

 

-

 

 

-

Adjusted net income and diluted EPS

$

4,019

 

$

0.42

$

5,435

 

$

0.57

$

11,257

 

$

1.18

$

14,350

 

$

1.52

         

Weighted average diluted shares outstanding

   

 

9,579

 

 

9,464

 

 

9,539

 

 

9,435

Adjusted net income and diluted EPS are defined as net income as reported, adjusted for unusual non-recurring items. Adjusted net income and diluted EPS are not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable to the measure as used by other companies. Nevertheless, the Company believes that providing non-GAAP information, such as adjusted net income and diluted EPS are important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year’s net income and diluted EPS to the historical periods’ net income and diluted EPS.

Contacts

Investor Contact:
Deborah K. Pawlowski
Kei Advisors LLC
Phone: 716-843-3908
Email: dpawlowski@keiadvisors.com

Release Summary

Allied Motion (Nasdaq: AMOT) Reports Third Quarter 2020 Results

Contacts

Investor Contact:
Deborah K. Pawlowski
Kei Advisors LLC
Phone: 716-843-3908
Email: dpawlowski@keiadvisors.com