Ametek announces record-breaking fourth-quarter results

Ametek has announced fourth quarter results that established quarterly records for orders, sales, operating income, diluted earnings per share and operating cash flow, with backlog on 31 December 2010 at $829m (£522.8m), an all-time high.

Fourth quarter 2010 sales of $678m were up 30 per cent over the same period of 2009, while operating income was $135.5m compared with $89.2m last year.

Net income in the fourth quarter of 2010 increased 57 per cent to $81.2m, from $51.9m in last year’s fourth quarter, while diluted earnings per share on a post-split basis increased 56 per cent to $0.50 per diluted share, from the 2009 level of $0.32 per diluted share. 

For the full year 2010 Ametek achieved sales of $2.47bn, up 18 per cent from 2009, and operating income of $482.2m, up 32 per cent compared with $366.1m last year.