View:
Download DOC
Download PDF
Download XLS
AMETEK, Inc. (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   April 15, 2011

AMETEK, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 1-12981 14-1682544
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
1100 Cassatt Road, Berwyn, Pennsylvania   19312
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   610-647-2121

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Top of the Form

Item 8.01 Other Events.

On April 15, 2011, AMETEK, Inc. issued a press release to announce updates to first quarter 2011 earnings guidance. A copy of such press release is furnished as Exhibit 99.1 to this Current Report. The information contained in said press release is hereby incorporated by reference in this Form 8-K.





Item 9.01 Financial Statements and Exhibits.

(c) Exhibit

99.1 Copy of press release issued by AMETEK, Inc. on April 15, 2011.





Top of the Form

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    AMETEK, Inc.
          
April 15, 2011   By:   /s/ Robert R. Mandos, Jr.
       
        Name: Robert R. Mandos, Jr.
        Title: Senior Vice President and Comptroller

Top of the Form

Exhibit Index


     
Exhibit No.   Description
 
99.1
  Copy of press release issued by AMETEK, Inc. on April 15, 2011.
EX-99.1

Exhibit 99.1

CORPORATE OFFICE
1100 Cassatt Road, Berwyn, PA 19312

Contact: William J. Burke (610) 889-5249

AMETEK EXPECTS TO REPORT RECORD EARNINGS WHICH ARE ABOVE PRIOR COMPANY GUIDANCE

INCREASES FIRST QUARTER EARNINGS GUIDANCE TO $0.55 — $0.56
PER DILUTED SHARE

—Raises Full Year 2011 Estimate to $2.20 to $2.25 Per Diluted Share—

Berwyn, PA, April 15, 2011 – AMETEK, Inc. (NYSE: AME) today announced it expects its first quarter results to substantially exceed its prior guidance. The Company now expects first quarter diluted earnings per share to be approximately $0.55 to $0.56, up from its previous guidance of $0.46 to $0.48 per diluted share. First quarter sales are expected to be up approximately 29% over the $556.7 million recorded in the first quarter of 2010.

“AMETEK had a strong quarter that surpassed our expectations,” stated Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. “Orders in the quarter were up approximately 37% with broad-based strength evident in most of our markets. This order strength translated into strong top-line performance and, coupled with a lower cost structure, drove the excellent bottom-line performance. Earnings are expected to be significantly above our previous guidance, with diluted earnings per share up 53% to 56% over the first quarter of 2010. These results will establish quarterly records for orders, sales and diluted earnings per share.”

“Our markets overall continue to show excellent growth as evidenced by our strong order input this year. Given the strong first quarter results and our positive outlook for the balance of the year, we have raised our full year 2011 estimated earnings to a range of $2.20 to $2.25 per diluted share, up from our previous guidance of $2.00 to $2.07 per diluted share. Our revised guidance represents a 25% to 28% improvement over 2010,” commented Mr. Hermance.

Earnings for the second quarter are expected to be between $0.53 and $0.55 per diluted share.

Included in both the full year and second quarter guidance is $0.02 per diluted share of costs associated with the performance-based, accelerated vesting of restricted stock, which resulted from a doubling of our stock price since the April 23, 2009 grant date.

—MORE—

1

AMETEK EXPECTS TO REPORT RECORD EARNINGS WHICH ARE ABOVE PRIOR COMPANY GUIDANCE

Page 2

A more comprehensive review of first quarter results and the full year 2011 forecast will be discussed in the Company’s first quarter earnings release and conference call scheduled for April 28, 2011.

Conference Call
The Company will Web cast its First Quarter 2011 investor conference call on Thursday, April 28, 2011, beginning at 8:30 AM ET. The live audio Web cast will be available at the Investors section of www.ametek.com and at www.streetevents.com. The call will also be archived at the Investors section of www.ametek.com.

Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $2.9 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P MidCap 400 and the Russell 1000 Indices.

Forward-looking Information
Statements in this news release relating to future events, such as AMETEK’s expected business and financial performance are “forward-looking statements.” Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors and uncertainties include our ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; our ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK’s filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.

# # #

2