Allied Motion Technologies Inc. (AMOT) reported first-quarter net income of $960,000 or $0.11 per share down from $1.16 million or $0.14 per share in the prior year quarter.
Bookings for the quarter were $25.3 million compared to last year's bookings of $23.0 million using the prior method and $21.0 million using the new method. Backlog as of March 31, 2013 was $28.0 million using the new method and was $31.4 million using the prior method compared to $40.9 million as of March 31, 2012.
Revenues for the quarter decreased 6.3% to $25.14 million from $26.85 million last year. Cash increased to $8.42 million for the quarter compared to $4.58 million at the end of the same quarter of 2012.
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