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AMETEK Q4 profit falls YOY

AMETEK Inc. said its fourth-quarter normalized net income was 50 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS decreased 6.3% year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.5 million, a decline of 9.2% from $127.2 million in the prior-year period.

The normalized profit margin dropped to 11.9% from 12.9% in the year-earlier period.

Total revenue fell on an annual basis to $973.0 million from $988.0 million, and total operating expenses came to $760.2 million, compared with $758.5 million in the year-earlier period.

Reported net income fell 21.6% on an annual basis to $108.4 million, or 47 cents per share, from $138.3 million, or 58 cents per share.

For the year, the company's normalized net income totaled $1.96 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.30.

EPS declined from $2.18 in the prior year.

Normalized net income was $457.9 million, a decline from $526.9 million in the prior year.

Full-year total revenue declined on an annual basis to $3.84 billion from $3.97 billion, and total operating expenses fell year over year to $3.00 billion from $3.03 billion.

The company said reported net income decreased year over year to $511.9 million, or $2.19 per share, in the full year, from $591.9 million, or $2.45 per share.