AMETEK, Inc. (AME)

AMETEK, Inc. (AME) - Morningstar

We are maintaining our fair value estimate for Ametek AME after reviewing the firm's third quarter results. Revenue declined 23% from the previous year to $497 million, as sales fell 26% at the electronic instruments group and 22% at the electromechanical group. Though acquisitions improved sales 4% during the third quarter, internal revenue shrank 26% and a strong dollar created a 1% head wind, resulting in a 23% revenue loss. 

AMETEK, Inc. (AME) - Richard Eastman at Robert W. Baird & Company

"The management is being conservative, but that is reasonable in this environment," analyst Antonio Antezano of Macquarie Research said. Ametek has cut about 1,000 jobs since the beginning of the year and said it expects to generate $20 million in incremental savings in the year from such cost cutting activities. "They are going to take some incremental steps as volumes are off significantly, but there is not a lot of excess cost to be taken out," analyst Richard Eastman of Robert W. Baird said. The company is on the defensive, he added. As a result of the global economic downturn, 2009 revenue is expected to fall about 10 percent, Chief Executive Frank Hermance said in a statement. 

AMETEK, Inc. (AME) - Antonio Antezano at Macquarie

* Q1 EPS $0.55 in line with estimates . * Q1 rev of $552.9 mln misses estimates of $595.6 mln * Cuts 2009 earnings view * Shares fall as much as 13 percent (Adds conference call details, analyst comments, updates share movement) By Bhaswati Mukhopadhyay BANGALORE, April 21 (Reuters) , Electronic instruments maker Ametek Inc ( AME.N ) posted a 11 percent decline in net profit that was in line with market estimates, but cut its 2009 earnings outlook on what it sees as a challenging year ahead, sending its shares down as much as 13 percent. The company, which also makes electric motors, now sees 2009 earnings of $2.10 to $2.25 a share, down from its prior view of $2.40 to $2.60 a share. "The management is being conservative, but that is reasonable in this environment," analyst Antonio Antezano of Macquarie Research said.  

AMETEK, Inc. (AME) - Morningstar

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