Summary
AMETEK, Inc. reported strong first-quarter 2013 results, exceeding prior year performance across key metrics including net sales, operating income, net income, and diluted earnings per share. Net sales grew by 6.7% to $882.9 million, driven by contributions from recent acquisitions such as Micro-Poise and Dunkermotoren, alongside ongoing Operational Excellence initiatives. This growth was partially offset by a 2% internal sales decline. The company demonstrated improved profitability, with operating income increasing by 7.9% to $197.2 million and net income rising by 13.5% to $125.1 million. Diluted earnings per share saw a 13.3% increase, reaching $0.51. AMETEK's financial position remains robust, with a healthy free cash flow of $145.9 million and a decreasing debt-to-capital ratio of 33.5%. The company maintained strong liquidity with $177.3 million in cash and cash equivalents, and expressed confidence in its ability to meet future obligations and operating needs.
Financial Highlights
47 data points| Revenue | $882.85M |
| SG&A Expenses | $97.61M |
| Operating Expenses | $685.62M |
| Operating Income | $197.24M |
| Interest Expense | $18.32M |
| Net Income | $125.15M |
| EPS (Basic) | $0.51 |
| EPS (Diluted) | $0.51 |
| Shares Outstanding (Basic) | 243.28M |
| Shares Outstanding (Diluted) | 245.41M |
Key Highlights
- 1Net sales increased by 6.7% to $882.9 million in Q1 2013 compared to Q1 2012, driven by acquisitions and operational initiatives.
- 2Operating income grew by 7.9% to $197.2 million, and net income rose by 13.5% to $125.1 million.
- 3Diluted earnings per share (EPS) increased by 13.3% to $0.51.
- 4International sales represented 54.9% of total net sales, showing a significant 16.0% increase.
- 5Free cash flow for the quarter was $145.9 million, an increase from $132.5 million in the prior year.
- 6The company repurchased 186,268 shares of common stock for $7.7 million in Q1 2013.
- 7Total debt decreased to $1,323.7 million, and the debt-to-capital ratio improved to 33.5%.