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altra industrial motion corp (AIMC) Key Developments

Altra Industrial Motion Corp. Reports Unaudited Consolidated Financial Results for the Second Quarter and Year to Date Ended June 30, 2014; Maintains Earnings Guidance for the Full Year of 2014

Altra Industrial Motion Corp. reported unaudited consolidated financial results for the second quarter and year to date ended June 30, 2014. For the quarter, the company reported net income of $12,818,000, net income attributable to the company was $12,818,000 or $0.46 per diluted share on net sales of $215,198,000 against net income of $10,676,000, net income attributable to the company was $10,689,000 or $0.40 per diluted share on net sales of $181,095,000 a year ago. Income from operations was $21,959,000 and income before income taxes was $18,762,000 against income from operations was $18,339,000 and income before income taxes was $15,537,000 a year ago. Non-GAAP net income of $13,110,000 or $0.48 per diluted share against net income of $10,885,000 or $0.41 per diluted share a year ago. For the year to date, the company reported net income of $24,181,000, net income attributable to the company was $24,162,000 or $0.87 per diluted share on net sales of $425,336,000 against net income of $22,535,000, net income attributable to the company was $22,569,000 or $0.84 per diluted share on net sales of $366,245,000 a year ago. Income from operations was $41,604,000 and income before income taxes was $34,854,000 against income from operations was $38,142,000 and income before income taxes was $32,782,000 a year ago. Non-GAAP net income of $26,238,000 or $0.96 per diluted share against net income of $23,016,000 or $0.86 per diluted share a year ago. Net cash flows from operating activities were $37,731,000 compared to $32,981,000 a year ago. Purchase of property, plant and equipment were $10,923,000 compared to $9,975,000 a year ago. The company is maintaining its previous revenue guidance for 2014 in the range of $800 to $825 million. The company is reducing its non-GAAP diluted EPS guidance for 2014 to $1.75 to $1.85. The company is maintaining its expectation that its tax rate for the full year will be approximately 31% to 33% before discrete items and that capital expenditures will be in the range of $28 to $30 million. The company is revising its expectation with respect to depreciation and amortization and now expects that it will be in the range of $32 to $34 million.

Altra Industrial Motion Corp. Presents at Jefferies 2014 Global Industrials Conference, Aug-14-2014 09:30 AM

Altra Industrial Motion Corp. Presents at Jefferies 2014 Global Industrials Conference, Aug-14-2014 09:30 AM. Venue: Grand Hyatt, 109 E. 42nd St., New York, New York, United States. Speakers: Carl R. Christenson, Chief Executive Officer, President and Director, Todd B. Patriacca, Chief Accounting Officer, Vice President of Finance, Treasurer and Corporate Controller.

Altra Industrial Motion Corp. Approves Third Quarter 2014 Cash Dividend, Payable on October 2, 2014

Altra Industrial Motion Corp. announced that its Board of Directors has approved the payment of a quarterly cash dividend of $0.12 per share for the third quarter of 2014. This is the tenth consecutive dividend in the Company's history. The dividend will be paid on October 2, 2014 to shareholders of record as of the close of business on September 18, 2014.

Altra Industrial Motion Corp. to Report Q2, 2014 Results on Jul 24, 2014

Altra Industrial Motion Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 24, 2014

Altra Industrial Motion Corp., Q2 2014 Earnings Call, Jul 24, 2014

Altra Industrial Motion Corp., Q2 2014 Earnings Call, Jul 24, 2014

 

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