Ametek, Inc. Issues Q2 2012 Guidance; Revenue Guidance Below Analysts' Estimates; Reaffirms FY 2012 Revenue Guidance; Raises FY 2012 EPS Guidance

Ametek, Inc. announced that for second quarter of 2012, it expects sales to be up approximately 10% over last year's second quarter. The Company estimates earnings to be approximately $0.65 to $0.68 per diluted share. For fiscal 2012, it expects revenue to be up low double digits on a percentage basis from fiscal 2011 reflecting mid single digit core growth and contributions from recent acquisitions. Earnings for fiscal 2012 are expected to be in the range of $2.70 to $2.75 per diluted share (EPS), up 14% to 16% over fiscal 2011, reflecting the leveraged impact of core growth, operational initiatives and the benefit from recent acquisitions. This is an increase from previous guidance of $2.65 to $2.70 per diluted share. The Company reported revenues of $2.99 billion and revenues of $758.83 million for second quarter of 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $850 million and EPS of $0.68 for second quarter of 2012; revenue of $3.34 billion and EPS of $2.73 for fiscal 2012.