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AMETEK Q1 profit climbs YOY

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AMETEK Q1 profit climbs YOY

AMETEK Inc. said its first-quarter normalized net income was 52 cents per share, compared with the S&P Capital IQ consensus estimate of 56 cents per share.

EPS climbed 6.9% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $119.6 million, an increase from $114.4 million in the year-earlier period.

The normalized profit margin declined to 11.9% from 12.1% in the year-earlier period.

Total revenue grew 6.7% year over year to $1.01 billion from $944.4 million, and total operating expenses grew 7.0% on an annual basis to $787.4 million from $735.9 million.

Reported net income rose from the prior-year period to $138.6 million, or 60 cents per share, from $134.6 million, or 57 cents per share.