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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):   October 25, 2006

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.)
      
37 North Valley Road, Paoli, Pennsylvania   19301
_________________________________
(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))

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Item 8.01 Other Events.

On October 25, 2006, AMETEK, Inc. issued a press release announcing that its Board of Directors has declared a three-for-two stock split and approved a 50% increase in the quarterly cash dividend on its common stock. A copy of such press release is furnished as Exhibit 99.1 to this Current Report.

On October 26, 2006, AMETEK, Inc. issued a press release announcing that the U.S. Department of Homeland Security has awarded a contract to AMETEK for the design, development and production of a high-resolution portable radiation detection system. A copy of such press release is furnished as Exhibit 99.2 to this Current Report.





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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.
          
October 26, 2006   By:   Robert R. Mandos, Jr.
       
        Name: Robert R. Mandos, Jr.
        Title: Senior Vice President & Comptroller

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Exhibit Index


     
Exhibit No.   Description
 
99.1
  Copy of press release issued by AMETEK, Inc. on October 25, 2006.
99.2
  Copy of press release issued by AMETEK, Inc. on October 26, 2006.
EX-99.1

EXHIBIT 99.1

CORPORATE OFFICE
37 North Valley Road, Building 4, P.O. Box 1764, PAOLI, PA 19301-0801

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

AMETEK ANNOUNCES STOCK SPLIT AND DIVIDEND INCREASE
— Declares a 3-for-2 Stock Split, Increases Dividend 50% —

Paoli, PA, October 25, 2006 — AMETEK Inc. (NYSE: AME) today announced its Board of Directors has declared a three-for-two stock split and approved a 50% increase in the quarterly cash dividend on its common stock.

The three-for-two split of its common stock will result in the issuance of one additional common share for every two shares owned as of the record date. The new shares are payable on November 27, 2006, to shareholders of record on November 13, 2006. Any fractional shares resulting from the stock split will be paid in cash based on the closing market price of AMETEK stock on the record date. By splitting its stock, AMETEK expects to broaden the stock’s marketability and improve its trading liquidity.

After reviewing the Company’s strong financial position and future expectations, AMETEK’s Board of Directors also has decided to increase the quarterly common stock dividend 50%, to an indicated annual rate of $.24 per share on a post-split basis ($.36 per share on a pre-split basis). The Board of Directors declared the fourth quarter dividend of $.06 per share ($.09 on a pre-split basis), payable on December 22, 2006 to shareholders of record on December 8, 2006.

Mr. Hermance commented, “Our Four Growth Strategies have resulted in significant increases in sales, profitability and cash flow in the last several years. We remain firmly committed to these strategies, in particular our disciplined acquisition strategy, and believe they will continue to drive shareholder value in the future. Anticipated strong cash flows will enable us to continue to fully fund these growth strategies, while rewarding shareholders with a higher cash dividend.”

Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of approximately $1.8 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 Index and the Russell 1000 Index.

Forward-looking Information
Statements in this news release that are not historical are considered “forward-looking statements” and are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK’s Securities and Exchange Commission filings.

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EX-99.2

EXHIBIT 99.2

CORPORATE OFFICE
37 North Valley Road, Building 4, P.O. Box 1764, PAOLI, PA 19301-0801

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

DEPARTMENT OF HOMELAND SECURITY SELECTS AMETEK
TO SUPPLY PORTABLE RADIATION DETECTION SYSTEM
High-Resolution System Incorporates Best-Available Identification Technology

Paoli, PA, October 26, 2006 — The U.S. Department of Homeland Security (DHS) has awarded a contract to AMETEK (NYSE:AME) for the design, development and production of a high-resolution portable radiation detection system. The system will be used by U.S. Customs and Border Protection, public safety officials and other first responders to screen vehicles and search public facilities for potentially harmful nuclear materials.

The contract calls for a base year award of $2.4 million for research and development. As well, the contract contains option years for both research and development and production. If all option years are exercised by the government, the total value of the contract will range from approximately $5 million to $50 million over a five year period.

“AMETEK is pleased to be selected as the only high-resolution germanium supplier for this important program. We believe our system represents the best technology for quickly, accurately and reliably identifying nuclear material and determining whether or not it poses a threat,” noted AMETEK Chairman and Chief Executive Officer Frank S. Hermance.

“Our Detective® family of high-resolution radiation detection systems represents a substantial advance in system performance and significantly improves the ability to detect potentially harmful radioactive material without interfering with the normal flow of commerce.

“These systems employ a unique class of high-purity germanium-based gamma ray detectors that offer the best available combination of resolution and sensitivity for the rapid, positive identification of nuclear materials. These detectors can identify nuclear material which can be used in a nuclear weapon, an improvised nuclear device or a dirty bomb,” added Mr. Hermance.

This award from DHS follows a number of recent wins for AMETEK’s radiation detection systems. In recent months, AMETEK has been awarded contracts totaling more than $12 million by the US Departments of Defense and Energy and the UK Ministry of Defence. These include standard handheld Detective radiation identifiers, a backpack version of the Detective, and a transportable portal system.

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DEPARTMENT OF HOMELAND SECURITY SELECTS AMETEK TO SUPPLY PORTABLE RADIATION DETECTION SYSTEM

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Corporate Profile

AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of approximately $1.8 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion, and New Products. Its 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 Index and the Russell 1000 Index.

Forward-looking Information

Statements in this news release that are not historical are considered “forward-looking statements” and are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK’s Securities and Exchange Commission filings.

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