On Yesterday, Allied Motion Technologies Inc. (NASDAQ: AMOT) oscillated between $37.43 and $38.18 before concluding trading period higher +0.64% at $37.90. The stock recorded total trading quantity of 52,750 shares as compared to its average volume of 62,464 shares. The share price fluctuated between $55.47 to $31.72 during the 52-week trading period. The firm has a total market worth of $364.108M and $9.53M shares remain outstanding.

Allied Motion Technologies Inc. (NASDAQ: AMOT), recently stated financial results for its first quarter ended March, 31, 2019.

Record revenue of $93.9M was up $17.3M, or 22.6%. The increase was Because of growth across all of the Company’s served markets. The increase reflects organic growth of 12.8%, when not including a $3.1M unfavorable impact of changes in foreign currency exchange.

Gross margin was unchanged at 29.5%. The recent acquisition of TCI was margin accretive, but that benefit was offset by two atypical items, which negatively influenced gross margin by a total of about 90 basis points. The first relates to a supplier who is discontinuing operations and subsequently increased their prices for any new orders. The second item was the timing of investment into tooling and prototype samples related to new Vehicle market programs. Both impacts are predictable to moderate over the coming quarters.

Operating costs and expenses as a percent of revenue were up 60 basis points to 21.7% largely Because of additional personnel and engineering to support the Company’s growth, higher stock compensation expense and incremental intangible asset amortization of $562 thousand related to the TCI acquisition. General and administrative expense as a percent of revenue reduced 20 basis points to 9.5%, and engineering and development as a percent of revenue reduced 30 basis points to 6.2%.

Operating income increased 14% to $7.3M. Operating margin was 7.8% contrast with 8.4%.

Interest expense increased $566 thousand to $1.2M on higher debt balances that funded acquisitions.

The effective tax rate was 27.5% contrast with 26.2% in the prior-year period. Net income increased to $4.5M, or $0.48 per diluted share, contrast with $4.2M, or $0.45 per diluted share. The Company anticipates its effective tax rate for fiscal 2019 to be in the range of 26% to 29%.

Earnings before interest, taxes, depreciation, amortization, stock compensation expense and business development costs (Adjusted EBITDA) was $11.7M, up $2.0M or 20%. As a percent of sales, Adjusted EBITDA was 12.5%, down 20 basis points.