Ametek has reported a 28% increase in second quarter 2011 sales to $758.8m, over the $591.9m reported in the year-ago quarter.
Operating income saw a 36% rise to $157m from $115.6m recorded in the same period of 2010, while net income increased 40% to $94.1m from $67.4m.
The company said its orders were up 24% to $797m in the quarter with particular strength in its long cycle process, power and aerospace markets.
Sales were up 28% on the strength of the order input and the contributions from acquisitions completed during the last year.
For the first half of 2011, sales increased 29% to $1.48bn billion from $1.15bn, while operating income increased 42% to $309m from $218m and net income was $184.6m, up 47% from $125.3m.
Second-quarter sales for the electronic instruments group (EIG) rose 31% to $407.4m, from the continuing strength in the process, power and industrial businesses.
Electromechanical Group (EMG) sales grew 25% to $351.5m over the same period of 2010 on strong growth in differentiated businesses as well as the contributions from the technical services for Electronics, Haydon Kerk, Avicenna Technology and Coining acquisitions, the company notes.
Third quarter 2011 sales are expected to be up, backed by strength in oil and gas, power and aerospace business and earnings are expected to record an increase of 19% to 23% over last year’s third quarter.
