AMETEK, Inc. has announced its financial results for the three month and full year periods ended December 31, 2014. Ametek’s Q4 2014 sales of US$1.02 billion were up 9% over the same period of 2013, Excluding Zygo integration costs of US$5.2 million, or approximately US$0.01 /diluted share, operating income increased 10% to a record US$232.3 million, operating margins were up 40 basis points, and diluted earnings per share increased 15% to a record SU$0.63 per diluted share from the fourth quarter 2013.
For the full year, the company achieved record levels of orders, sales, operating income, net income and diluted earnings per share. Full year sales were US$4.01 billion, up 12% from 2013. Excluding Zygo inegration cots of US$18.9 million, or approximately US$0.05 per diluted share, operating income in 2014 was US$917.5 million, up 13% and diluted earnings per share were US$2.42, up 15% from 2013.
Frank S. Hermance, Ametek Chairman and CEO noted, “AMETEK had a strong fourth quarter to complete another excellent year. Strong growth, record operating performance, and the contributions from our acquired businesses allowed us to exceed our fourth quarter earnings expectations. In addition, our orders were very strong in the quarter, totalling US$1.0 billion, up 10% from last year’s fourth quarter with 7% core growth.
“Cash flow was also very strong, with both the fourth quarter and full year results representing records. Operating cash flow was US$213.3 million for the quarter and US$726.0 million for the year.”
Edited from press release by Claira Lloyd
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