U.S. Markets closed

Wired News - AMETEK Acquires SoundCom Systems

Stock Monitor: Taylor Devices Post Earnings Reporting

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:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Taylor Devices, Inc. (NASDAQ: TAYD), which also belongs to the Industrial Goods sector as the Company AMETEK. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=TAYD

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, AMETEK most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=AME

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.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors