Ametek: Q3 Earnings Snapshot

BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Tuesday reported third-quarter net income of $426.3 million.

On a per-share basis, the Berwyn, Pennsylvania-based company said it had profit of $1.85. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $2.21 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.

The maker of electronic instruments and electromechanical devices posted revenue of $2.22 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.16 billion.

For the current quarter ending in December, Ametek expects its per-share earnings to range from $2.26 to $2.30.

The company expects full-year earnings in the range of $8.53 to $8.57 per share.

Ametek shares have increased 18% since the beginning of the year, while the S&P's 500 index has climbed 10%. The stock has climbed 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AME at https://www.zacks.com/ap/AME