Gabelli Comments On Ametek Fourth Quarter 2010 Results

According to Gabelli, Ametek

fourth quarter 2010 results established quarterly records for orders, revenues, operating income and diluted earnings per share. Gabelli reported that operating income jumped 52% yoy, to $135 mm, and EPS increased 56% to $0.50, driven by higher volume, cost reductions and operational improvements including global sourcing and strategic procurements. “ Over a business cycle, Ametek is committed to double-digit earnings growth. Ametek's vision is to double the size and profitability of the company in five years. We calculate a 2012 PMV of $37.” Ametek closed yesterday at $41.84.