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Wired News - AMETEK Acquires SoundCom Systems

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LONDON, UK / ACCESSWIRE / May 4, 2018 / If you want access to our free research report on AMETEK, Inc. (NYSE: AME) all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AME as the Company's latest news hit the wire. On May 02, 2018, the Company announced that it has inked an agreement to acquire SoundCom Systems, which is a leader in the design, integration, installation, and support of clinical workflow and communication systems for healthcare facilities, educational institutions, and corporations. Register today and get access to over 1000 Free Research Reports by joining our site below:


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SoundCom also serves as a value-added reseller for AMETEK Rauland's mission-critical healthcare communication workflow solutions in Ohio and Michigan. Rauland is a market leader in the design and delivery of critical communications, workflow, and life-safety solutions for hospitals and schools worldwide. Post-acquisition, SoundCom will join the existing Rauland-owned value-added resellers in Florida and California.

Acquisition Expands Rauland's Presence in Attractive Healthcare and Education Markets in the Midwest

Commenting on the agreement, David A. Zapico, Chairman and Chief Executive Officer (CEO) of AMETEK, stated that SoundCom is an excellent acquisition for AMETEK, given its 40-year history as a valued business partner to Rauland. Zapico added that the acquisition expands Rauland's presence in the attractive healthcare and education markets in the Midwest while providing AMETEK's customers with expanded value-added solutions and services.

AMETEK Announced Record 2018 First Quarter Results and Raised 2018 Guidance

On May 02, 2018, AMETEK also announced its financial results for the three-month period ended March 31, 2018 (Q1 FY18). The Company's sales were a record $1.17 billion in Q1 FY18, up 16% compared to Q1 FY17, with an organic sales growth of 8%. The Company's orders were a record $1.34 billion in the reported quarter, up 20% over the prior year's same quarter. For Q1 FY18, the Company's operating income increased 19% to a record $258.2 million, while its operating margins were up 40 basis points to 22.0% versus Q1 FY17. The Company's diluted earnings per share (EPS) were up 30% to $0.78 in Q1 FY18.

2018 Outlook - The Company expects overall sales in 2018 to increase in low-double digits on a percentage basis, with organic sales up mid-single digits. AMETEK is increasing its 2018 diluted EPS guidance range to $3.06 to $3.12, up 17% to 20% compared to adjusted diluted EPS for 2017. This represents an increase from the Company's initial diluted EPS guidance range of $2.95 to $3.05. The Company's overall sales are expected to be up approximately 10% for Q2 FY18 compared to Q2 FY17.

AMETEK's Recent Acquisition Deal

On February 01, 2018, the Company completed two acquisitions; namely (i) FMH Aerospace, which is a leading provider of complex, highly-engineered solutions for the aerospace, defense, and space industries, and (ii) Arizona Instrument, which is a provider of differentiated, high-precision moisture and gas measurement instruments. Combined, approximately $273 million was deployed on these acquisitions.

FMH Aerospace's proprietary products and solutions further broadened AMETEK's differentiated product offerings, serving aerospace and defense platforms. Arizona Instrument was an exciting addition to AMETEK's growing presence in the food, pharmaceutical, and environmental markets and nicely complemented the Company's Brookfield Engineering business.

About SoundCom Systems

Headquartered in Cleveland, Ohio, SoundCom provides innovative design, seamless integration, installation, training, and support services for audio, video, sound, and communication technologies. The Company's solutions allow its customers to effectively communicate, collaborate, and engage staff members, colleagues, and the general public.

About AMETEK, Inc.

Founded in 1930 and headquartered in Berwyn, Pennsylvania, AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices, and which had sales of $4.0 billion in 2014. AMETEK has over 15,000 employees at more than 120 manufacturing locations around the world.

Stock Performance Snapshot

May 3, 2018 - At Thursday's closing bell, AMETEK's stock was slightly down 0.23%, ending the trading session at $69.99.

Volume traded for the day: 4.55 million shares, which was above the 3-month average volume of 1.24 million shares.

Stock performance in the previous six-month period – up 3.70%; and past twelve-month period – up 16.83%

After yesterday's close, AMETEK's market cap was at $16.43 billion.

Price to Earnings (P/E) ratio was at 27.51.

The stock has a dividend yield of 0.80%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.3% at the end of the session.


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