AME News AMETEK Anticipates Very Strong Third Quarter
PAOLI, Pa.--(BUSINESS WIRE)--AMETEK Inc. (NYSE:AME) today announced it expects its third quarter and
full year 2006 results to substantially exceed its prior estimates.
The Company now expects third quarter diluted earnings per share to be
approximately $.66 to $.67, up from its previous guidance of $.59 to
$.61 per diluted share. Third quarter sales are expected to be
approximately $464 million, up 35% from the $344.5 million for the third
quarter of 2005.
“AMETEK had an outstanding quarter that
surpassed our expectations,” stated Frank S.
Hermance, AMETEK Chairman and Chief Executive Officer. “Strong
internal growth of approximately 12%, combined with the contributions
from acquired businesses drove our top-line growth. Excellent
performance in our long-cycle aerospace and power businesses and
continued strong results in our process and analytical instrument
business drove the internal growth. Earnings are expected to be up
sharply as well, with diluted earnings per share up 35% to 37% over last
year’s third quarter,”
he commented.
“Given our strong year-to-date results and the
expectation of continued strength in our markets, we have raised our
full year 2006 estimated earnings to a range of $2.52 to $2.54 per
diluted share, up from our previous guidance of $2.42 to $2.46 per
diluted share,” stated Mr. Hermance.
Earnings Release and Conference Call
AMETEK will issue its Third Quarter Earnings release before the market
opens on Thursday October 19, 2006 and will Web cast its investor
conference call beginning at 8:30 AM ET that same morning. The live
audio Web cast will be available at www.ametek.com
and at www.streetevents.com.
To access the Web cast from ametek.com, click on “Investors”
and a link will be provided to access the Web cast. The call will also
be archived at www.ametek.com/investors.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and
electromechanical devices with annualized sales of approximately $1.8
billion. AMETEK’s Corporate Growth Plan is
based on Four Key Strategies: Operational Excellence, Strategic
Acquisitions & Alliances, Global & Market Expansion and New Products.
AMETEK’s objective is double-digit percentage
growth in earnings per share over the business cycle and a superior
return on total capital. The common stock of AMETEK is a component of
the S&P MidCap 400 Index and the Russell 1000 Index.
Forward-looking Information
Statements in this news release that are not historical are considered “forward-looking
statements” and are subject to change based
on various factors and uncertainties that may cause actual results to
differ significantly from expectations. Those factors are contained in
AMETEK’s Securities and Exchange Commission
filings.
