Revenue during the quarter grew 8.86 percent to $55.34 million from $50.84 million in the previous year period. Gross margin for the quarter expanded 201 basis points over the previous year period to 30.23 percent. Total expenses were 95.33 percent of quarterly revenues, up from 95.02 percent for the same period last year. That has resulted in a contraction of 31 basis points in operating margin to 4.67 percent.

Operating income for the quarter was $2.58 million, compared with $2.53 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $5.81 million compared with $5.53 million in the prior year period. At the same time, adjusted EBITDA margin contracted 37 basis points in the quarter to 10.50 percent from 10.88 percent in the last year period.

"We had growth in our Industrial/Electronics, Medical and Aerospace & Defense markets that was generated both organically as well as from our Heidrive acquisition," commented Dick Warzala, chairman and chief executive officer of Allied Motion. "As has been the case through the year, sales to the Vehicle market were down due to program end of life and softness in demand in certain applications within the market. We continue to work on, and have made progress with diversifying our customers and applications to reduce the impact a specific market or customers can have on our results in the future. We are building a solid pipeline of opportunities that addresses our diversification effort and which we expect will generate growth looking out for several years. We are also addressing the impact of lower volume in certain facilities by adapting our operations to better meet the needs of the overall company."

The company has spent $21.39 million cash to meet investing activities during the year as against cash outgo of $4.73 million in the last year.

Cash flow from financing activities was $1.58 million for the year as against cash outgo of $6.10 million in the last year period.

Cash and cash equivalents stood at $15.48 million as on Dec. 31, 2016, down 27.23 percent or $5.79 million from $21.28 million on Dec. 31, 2015.

Debt moves up
Allied Motion Technologies Inc. has witnessed an increase in total debt over the last one year. It stood at $71.42 million as on Dec. 31, 2016, up 6 percent or $4.04 million from $67.38 million on Dec. 31, 2015. Total debt was 39.70 percent of total assets as on Dec. 31, 2016, compared with 40.57 percent on Dec. 31, 2015. Debt to equity ratio was at 0.99 as on Dec. 31, 2016, down from 1.04 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 1.42 for the quarter from 1.70 for the same period last year.