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AMETEK Q3 profit climbs 17.3% YOY

AMETEK Inc. said its normalized net income for the third quarter was 55 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS rose 17.6% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $127.8 million, an increase of 17.3% from $108.9 million in the prior-year period.

The normalized profit margin rose to 11.8% from 11.5% in the year-earlier period.

Total revenue increased 14.8% on an annual basis to $1.08 billion from $945.0 million, and total operating expenses grew 14.5% on an annual basis to $852.0 million from $743.9 million.

Reported net income rose 17.6% on an annual basis to $153.3 million, or 66 cents per share, from $130.3 million, or 56 cents per share.