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FEBRUARY 2005 INDUSTRY NEWS
Other than a more rigorous emphasis on continual improvement the impact of these changes for most laboratories appear to be minimal. How the new changes are implemented are essentially at the discretion of each country’s accreditation body. However, it is probable that implementation will follow the same path as the three year implementation period which was utilized for ISO 9001:2000. This information was provided courtesy of SHOQ Quality Assurance Manuals, Inc.
International Dimensional Workshop - May 2005 This year’s International Dimensional Workshop is slated for May 9-12 at the Opryland Hotel in Nashville, TN. “Tomorrow’s Dimensional Measurement Today” is the message of IDW 2005, and this starts with keynote speaker Dr. Richard Kayser, Acting Deputy Director of NIST. Featured speakers on May 10-11 include Roxanne Robinson of A2LA, Jim Salsbury of Mitutoyo, Ed Morse of the University of North Carolina-Charlotte, Henrik Nielsen, Steve Phillips of NIST and many more. Educational opportunities are available throughout the week. On Monday, May 9, Mark Malburg returns to IDW and presents an all-day workshop on surface measurement analysis. Jim Salsbury returns with an all-day workshop on CMMs, including calibration and uncertainty. And new this year, Dave Harris will present a half-day workshop on thread gaging and calibration. Ted Doiron will hold a two-day workshop on uncertainty budgets for high-uncertainty labs on May 12-13. Now in its 7th year, IDW is the destination for the latest information on dimensional measurement, metrology and calibration. In addition, attendeesl have the chance to visit with suppliers of the latest technology and services. More than 40 exhibitors are expected to be present with their quality offerings. Registering for IDW 2005 is quick and easy! Visit the online registration at www.qualitymag.com/idw or call toll free (888) 530-6714. Save $70 and register before March 31. We look forward to your presence at IDW 2005.
VWR International and Alpha-Omega Calibrations, LLC Join Forces to Offer State-of-the-Art Calibration Services NationwideVWR International announces the recent acquisition of Alpha-Omega Calibrations, LLC. This acquisition expands VWR's service portfolio to now include instrument calibration services and repairs for customers nationwide. Alpha-Omega Calibrations proven process includes a quality manual, well-documented standard operating procedures, a world-class training program for all their technicians, state-of-the-art facilities and equipment and decades of gravimetric and metrology experience. This new relationship offers VWR customers calibration, repair, and verification for an array of instruments ranging from pipettes to bottletop dispensers and balances. Pipettes of all makes and models can be calibrated either gravimetrically or photometrically across every volumetric range. Service advantages include fast turnaround times, competitive pricing, full traceability to NIST, and fulfillment of ISO and all other compliance record-keeping requirements. Tim Grogan, general manager of services for VWR International, stated: "The real benefit to our customers lies with VWR's ability to leverage and enhance our core competencies and global presence to deliver cost effective solutions. The ability to one-stop shop for products and services through VWR generates savings for our customers thanks to vendor consolidation and reduced administrative costs". VWR customers have
the option to have their instruments serviced onsite at their location
or offsite in VWR's environmentally controlled calibration facility. VWR
Calibration Services utilizes a tiered service structure that helps customers
select the appropriate service for their needs. "Customers will know
upfront the expense and value for each service provided. There are no
hidden costs," added Grogan.
Scott
Specialty Gases European Facility Achieves ISO/IEC 17025 Accreditation
to Manufacture Reference Calibration Gases
Sypris Reports Fourth Quarter Earnings Sypris Solutions, Inc. reported revenue increased 56% to a record $121.7 million for the fourth quarter compared to $78.2 million for the prior year period. The Company reported a loss for the period of $1.5 million, or $0.08 per diluted share, compared to a profit of $3.4 million, or $0.23 per diluted share, for the fourth quarter of 2003. For the full year 2004, revenue increased 54% to a record $425.4 million from $276.6 million for the year-earlier period. Net income for the year was $7.4 million, or $0.42 per diluted share, compared to $8.1 million, or $0.56 per diluted share, for 2003. The results for 2004 reflect a 21% increase in weighted average shares outstanding to 17.7 million shares for 2004 compared to 14.7 million shares for the prior year, or approximately $0.09 per diluted share. In addition, while the Company has not fully completed the internal control assessment process with the related auditor attestation under Section 404 of the Sarbanes-Oxley Act, the Company has no reason to believe that the results of that assessment process will result in the identification of any material weaknesses. "The fourth quarter proved to be extremely difficult," said Jeffrey T. Gill, president and chief executive officer. "The record increase in revenue was overshadowed by cost overruns that were incurred to increase manufacturing capacity, launch new programs and respond to shortages in material during a period of escalating customer demand. We expect the cost overruns to decrease over the first half of 2005 as the new manufacturing cells are completed and new programs enter full production, after which we expect margins to gradually return to historical levels."
Agilent Technologies names Patrick Byrne as senior vice president, president of Electronic Products and Solutions Group Agilent Technologies Inc.announced the appointment of Patrick J. (Pat) Byrne as a senior vice president of the company and president of its Electronic Products and Solutions Group (EPSG). Byrne was most recently vice president and general manager of EPSG's Wireless Business Unit, based in Santa Rosa, Calif. He replaces William Sullivan, Agilent's executive vice president and chief operating officer, who was recently named president and CEO effective March 1, 2005. Byrne will assume his new position effective immediately. "Pat has demonstrated success in leading one of Agilent's largest business units over the past few years," said Sullivan. "His management skills, knowledge of our business, and his passion for our customers, products and employees make him an ideal successor for this position." Byrne has more than 22 years of experience at Agilent and Hewlett-Packard Co. He joined HP in 1983 as an ASIC design engineer for the company's Components Group. In 1991 Byrne moved to HP's Test & Measurement Group in Colorado Springs, Colo., where he managed R&D and marketing teams focused on business development for the computer industry, ultimately becoming the division general manager. In 1999, when Agilent was spun off from HP, Byrne was named vice president for EPSG's Product Generation Unit, and in 2001 was appointed vice president and general manager for the Wireless Business Unit. For full story visit Agilent's Newsroom.
NAPT Submits ILC/PT Provider Accreditation Application NAPT is pleased to announce that they have submitted an application to A2LA to become formally accredited as an ILC/PT provider. At the 2005 Measurement Science Conference, NAPT Managing Director, Charles Ellis, meet with A2LA’s Roxanne Robinson and presented NAPT’s completed application to A2LA. While NAPT is currently recognized by the AB’s they felt it important to get formal accreditation by an accreditation body. NAPT is the first organization to provide ILC’s to the test and metrology community, mainly calibration artifacts. NAPT has been providing this service since 1997 and was actively involved in training other organizations prior to NAPT offering ILC/PT’s. NAPT has been working closely with A2LA and the other AB’s to bring value to the accreditation granted to the ILC providers. NAPT has been prepared to become accredited by an Accreditation Body (AB) for several years. Not only does NAPT's quality system meet A2LA’s requirements for accreditation, NAPT exceeds them. NAPT has been audited by several AB’s and have been approved to provide ILC services to organizations seeking accreditation through the accreditation provider. NAPT is not aware of any AB that does not accept their reports. NAPT expects to get formal recognition in the second quarter of 2005. For more information visit NAPT.
Wyle Names George R. Melton CEO And President; Completes Acquisition Of General Dynamics Aeronautics Business Wyle Laboratories, Inc., one of the leading engineering firms specializing in high-tech testing, life sciences and technical support services, has announced the appointment of George R. Melton as chief executive officer and president. The appointment of Melton is concurrent with the completion of the previously announced acquisition by Wyle of the Aeronautics Services business of General Dynamics, which creates the leading independent test and evaluation business with projected revenues of approximately $450 million and over 3,000 employees. Melton succeeds Gus Yiakas, who continues as chairman of Wyle’s board of directors and has been with Wyle for 36 years. Under Yiakas’ leadership, Wyle grew from $60 million in sales to more than $200 million. Wyle is a portfolio company of Littlejohn & Co., a private investment firm. Together, Wyle and the Aeronautics Services business will provide test and evaluation, engineering, life science and technical support services to a diverse range of customers, including aeronautics and defense contractors, as well as to Federal government agencies such as NASA and the Department of Defense. Melton joins Wyle from the EG&G division of URS Corporation where he served as president and CEO and was responsible for leading a premier technical services company with approximately $1 billion in revenue. He joined EG&G in 2000 and during his tenure helped to significantly increase sales and profits. Wyle Laboratories, Inc., a privately held company, is a leader in providing testing, research and engineering services to commercial, industrial and government customers. The company also provides technical support services, life sciences, special test systems and other technical support services to the aerospace, defense, nuclear power, communications and transportation industries.
Measurement, Control & Automation Association 2005 Executive Forum The program for the 2005 Executive Forum sponsored by the industry trade association, MCAA, is available for viewing on MCAA's website at www.measure.org/EF05Program/EF05.htm. The meeting will be held May 15-17, 2005 at the Flamingo Hotel & Casino, Las Vegas, Nevada. The Measurement, Control & Automation Assoc. provides information and networking resources for manufacturers and distributors of instrumentation, systems and software used in industrial process control and factory automation worldwide. The MCAA seeks to become the primary trade organization for North American companies providing measurement, control and automation products and services throughout the world. The program features general and breakout sessions on a variety of subjects which should appeal to companies of all sizes including new market opportunities, interactive and web-based training, export compliance, addressing your greatest marketing challenges, plant security and global purchasing agreements.
Sri Lankan Metrology Lab Receives International Accreditation For the first time in Sri Lanka, a Metrology laboratory has obtained international accreditation from the Swedish Board for Accreditation and Conformity Assessment (SWEDAC). The metrology and instrumentation division of the Industrial Technology Institute (ITI) has received ISO/IEC 17025 in effect from September 21, 2004 after a very stringent assessment performed by the SWEDAC assessors in February 2004. The presence of such an internationally accredited metrology laboratory provides the much needed reliable calibration facilities in the country. Without credible metrology, conformity to international standards required by the global marketplace is a near impossibility. The accreditation of the ITI Metrology Laboratory has been possible through the UNIDO integrated industrial support program for Sri Lanka with significant financial contribution from the Government of Norway through NORAD.
Hexagon
Metrology Announces New North American Headquarters Bill Gruber, President & CEO of Hexagon Metrology North America and Brown & Sharpe Inc. said, "Connecticut presented to Hexagon a number of attractive incentives to assist us in the relocation process that made this clearly the best choice from among those we were considering, including our Rhode Island options. We will now focus on this alternative to bring it to a successful conclusion. In making our decision, we were at all times mindful of the interests of our stakeholders, including customers, employees and our parent company." The move incorporates the existing backoffice operations of Hexagon Metrology’s North American companies, including Brown & Sharpe, TESA, Wilcox Associates, Sheffield Measurement and ROMER CimCore. New demonstration, laboratory, and training facilities are also planned. The manufacturing operations will be designed to support the Brown & Sharpe product line, currently located in North Kingstown, Rhode Island. The new facility to be built will meet the demanding assembly and testing requirements for the sophisticated Coordinate Measurement Machines (CMMs) manufactured by Brown & Sharpe. “The manufacture of CMMs demands a high-tech, environmentally controlled facility for the laser calibration” said Gruber. “It’s a very clean, zero-discharge sort of operation.” CMMs measure the dimensions of manufactured parts with extremely high precision—less than 1/10,000th of an inch. (By comparison, the diameter of human hair is about 1/1000th of an inch.) These types of machines are widely used to assist in the validation of precision parts for the aerospace, defense, medical and automotive industries. Hexagon is also the world’s largest developer of the sophisticated measurement software that drives CMMs—the PC-DMIS package allows 3-D manipulation of a virtual model of the part to be inspected with point-and-click programming. The company also plans to expand available services at the new facility by pursing A2LA Accreditation for the calibration laboratories and offering commercial calibration services for dimensional gages and equipment. “We see a real need for more accredited gage calibration laboratories in New England” said Gruber. “We plan to add these services as well as contract inspection services onsite at the new facility, similar to our plans for two labs currently being constructed in our metro Detroit location. These are value added services for our customers that we couldn’t support from our prior location.” The Hexagon Metrology
group of Hexagon AB (Sweden) is the world’s largest manufacturer
of precision dimensional measurement equipment and software, with ten
manufacturing facilities on four continents and more than forty sales
and support locations worldwide. Hexagon’s brands include Brown
& Sharpe, CE Johansson, CIMCORE, DEA, Letiz, PC-DMIS, ROMER, Sheffield
and TESA. More information can be found at www.hexagon.se.
Starrett Celebrates 125th Anniversary 2005 marks the 125th anniversary of the founding of the L.S. Starrett Company. Beginning with a single tool, Starrett has grown into a global manufacturer with a line of over 5,000 products, including precision measuring tools, shop tools, saw blades, and sophisticated metrology equipment. The company's innovation continues with the recent introduction of products such as Bi-Metal Unique™ Saw Technology, Unified Shank™ Jig Saw Blades, and the 797 Water Resistant Electronic Caliper. Starrett employs 2,150 people worldwide. The company's principal plant is located in Athol, Massachusetts. In addition, the company operates manufacturing plants in Ohio, North Carolina, South Carolina, Brazil, Scotland, China, Puerto Rico and the Dominican Republic. To learn more about the L.S. Starrett Company visit their website, www.starrett.com.
Keithley First-Quarter Profit More Than Doubles Keithley Instruments Inc., a maker of testing equipment for electronics manufacturers, said that profit more than doubled in the first fiscal quarter, driven by growth in sales in the Americas and for semiconductor products. Keithley's earnings surged to $2.8 million, or 17 cents per share, from $1.1 million, or 7 cents per share, a year ago. Revenue rose 20 percent to $35.6 million from $29.7 million. Orders increased about 29 percent in the Americas, followed closely by 23 percent growth in Asia. Orders from semiconductor company's rose about 45 percent, while wireless communications orders fell 40 percent. The company said about three percentage points of the growth were due to favorable exchange rates. The results were in line with analysts' predictions for profit of 17 cents per share on sales of $36.9 million, as provided by a Thomson First Call survey. Sales were about 10 percent lower than the fourth quarter. "Although orders were down sequentially, we believe market conditions for our products remain healthy," said Joseph P. Keithley, the company's chairman, president and chief executive. Looking forward, Keithley predicted second-quarter sales of $36 million to $41 million with pretax earnings in the upper-single digits to mid-teens as a percentage of revenue. Analysts currently expect sales at the low end of that guidance, at $36.7 million.
Stranaska Announces Trademark Registration Stranaska LLC (Fort Collins, Colorado, USA) is pleased to announce that registration of its namesake mark has been granted by the United States Patent and Trademark Office (DEC 7, 2004). The new Stranaska ® brand registration is a vital piece of the company’s intellectual property. The registered mark will be strategically integrated into the company’s forthcoming array of calibration reference materials and procedures, certificates of calibration, publications, educational outreach services, and visionary leadership activities related to the advancement of analytical metrology worldwide. For more information about Stranaska’s pioneering efforts and leadership position in analytical metrology, please visit its website, www.stranaska.com, or call 970-282-3840.
NACLA Elects New Officers For 2005 The National Cooperation for Laboratory Accreditation (NACLA) has elected a new President and two other new officers; all three assumed their positions on the first of the year. Dr. William J. Tilstone is the new NACLA President. He is Executive Director of the National Forensic Science Technology Center, parent of Forensic Quality Services - International, a laboratory accreditation body headquartered near Tampa, FL. He is a native of Scotland and spent a number of years as Director of the State Forensic Science Laboratory in Adelaide, Australia. He also served as the state government representative to the National Association of Testing Authorities, Australia's accreditation body. The other new officers are Dr. Richard B. Pettit, Vice President, and Richard Reitz, Secretary. Dr. Pettit recently retired from the Department of Energy's Sandia (NM) National Laboratories, after a 30- year career on Sandia's technical staff. He is currently a consultant to DOE. Mr. Reitz is Laboratory Manager of Retlif Testing Laboratories, of Ronkonkama, NY, a leading independent laboratory in the fields of electromagnetic capability and environmental simulation testing. The three new officers join Anthony Anderson, President of Guildline Instruments, Inc., of Lake Mary, FL, who will continue to serve as NACLA Treasurer. Dr. Tilstone said he intended to lead NACLA in intensifying the pursuit of its primary mission: To evaluate U.S. laboratory accreditation bodies (ABs) and to grant recognition to those ABs found to be in compliance with NACLA procedures and the relevant international standards for competent ABs. His administration will focus on three strategies related to this mission: Continue the improvement of the NACLA recognition process, attract more ABs to apply for NACLA recognition, and market NACLA more effectively to industry and government. Persons interested in laboratory accreditation are encouraged to learn more about NACLA by visiting its website, www.nacla.net, and by attending NACLA's Laboratory Accreditation Forum, on April 5 and 6, 2005.
Agilent Technologies' Test and Measurement Organization Forms Joint Venture with Qianfeng Electronics Ltd. Corp. in China Agilent Technologies Inc. announced the formation of a joint venture between its test and measurement organization and Chengdu Qianfeng Electronics Ltd. Corp. to develop and manufacture test equipment. Qianfeng is a prominent, industry-leading Chinese company in electronic equipment and gas appliances. Agilent will work directly with Qianfeng's instrument operation to make test equipment for the Chinese market. The joint venture, Agilent-Qianfeng Electronics Technologies (Chengdu) Co. Ltd. will be located in Chengdu, in China's Sichuan Province. China represents a significant growth opportunity in general for Agilent, and specifically for the company's test and measurement business. China's $200 billion electronics industry is growing at approximately 20 percent a year, and it is projected that by 2006, 250 million mobile phone handsets will be manufactured in that country annually. The joint venture will be part of Agilent's Electronic Products and Solutions Group (EPSG). Max Yang has been named vice president and general manager of the new company. He was previously the vice president of China business development for EPSG. Dick Chang, a former senior vice president of Agilent, will serve as chairman of the joint venture. "The electronics industry is growing quickly in China, and forming a joint venture with a company there allows us to serve customer needs locally in a focused way," said Yang. "Agilent is a global company, and this is part of our global test and measurement strategy."
Refmacal Labs LLC Celebrates 2nd Anniversary Refmacal Labs LLC (Fort Collins, Colorado, USA) proudly celebrates its 2nd anniversary as a leader in science-based calibrations of UV/VIS certified reference material (CRM) standards. The company opened its doors for business in January 2003 as part of the corporate spinoff strategy by Stranaska LLC to divest its original CRM standards product line and recalibration service which it had successfully developed over the previous decade. Refmacal Labs LLC was founded by Dr. Jerry D. Messman, principal owner and founder of Stranaska LLC, for the express purpose of continuing the commercialization of Stranaska’s former core UV/VIS calibration standards business with the same technical management and staff intact. Initially called Stranaska Calibrations LLC, the company officially changed its legal name in August 2003 to Refmacal Labs LLC, the name by which it is known today. Concurrent with the company spinoff was a licensing arrangement which facilitates exclusive commercialization and distribution of Stranaska’s entire original array of spectrophotometric CRM artifacts under the new “Refmacal” brand. The exclusive licensing arrangement also includes Stranaska’s original calibration measurement technology for the recalibration of other commercial UV/VIS standards such as NIST’s spectrophotometric Standard Reference Material (SRM) artifacts. As Refmacal Labs moves into its 3 rd year of business operations, the company continues to build upon its worldwide calibration reputation under the daily direction and leadership of Kathy McLain, Laboratory Administrator, who is ably assisted by Jodi Meerman, Laboratory Coordinator, and Barbara Knowles, Administrative Assistant. Calibration technicians include Jason Easker, Courtney Spohn-Larkins, and Chuck Fussman. Additional information about Refmacal Labs and its UV/VIS reference material calibration program may be obtained from the company website, www.refmacal.com, or by calling 970-472-9537.
Masami Tanaka succeeds Oliver R. Smoot as ISO president Tanaka emphasized in his inaugural message the need for sustainable development and standardization in a globalized society. “Sustainable development and the global economy require international standards that, at the same time, lower technical barriers to trade and disseminate technologies and good practices,” he said. “These standards should be globally relevant and designed to meet market and regulatory needs in a flexible, timely and cost-effective manner.” Tanaka expressed his
support for ISO’s recently published Five-Year Action Plan for Developing
Countries, and for the use of global standards in developing economies.
“As we expand our work in new areas such as services, sustainable
development, security and information technologies, we must make sure
that our processes and deliverables are optimized, and that we make the
best of our collaboration with other international and global organizations,”
Tanaka said. “At the same time, we must not neglect our ‘basics,’
ensuring that our standards related to more traditional sectors are regularly
maintained and that we withdraw those which have become obsolete.”
Read more of the press release at: http://www.iso.org/iso/en/commcentre/pressreleases/2005/Ref944.html
The recently formed San Diego County, Vista, CA-based AceTech, springs from the long standing experience of Acetech Equipment Corporation and Techmaster Electronics, and draws upon a long legacy of repair expertise. Acetech stands ready to serve top-tier clients throughout the world in the RF and microwave market. Acetech Lab's stated goals: to repair difficult to repair units and provide the installation of options, all on a timely basis. Although Acetech repairs almost any variety of t&m equipment; spectrum and network analyzers, pulse and signal generators, and high end oscilloscopes are specialties of the facility. Unlike major manufacturers which have established repair and modification times stretching between six and 12 weeks (if not longer), Acetech's repair times are focused on expediency. The facility provides quick assessments upon equipment arrival to determine repair and modification benefit analyses, and quickly performs any authorized work in a controlled, professional environment. Acetech understands that existing repair times at other facilities do not meet the demanding needs of today's marketplace, and finds the exorbitant costs for evaluations and simple repairs to be outlandish and unnecessary. Contact Acetech (tel: 760-536-0227) and learn more about their complete test and measurement repair services. Acetech specializes in RF/Microwave equipment, and also has the talent to repair many categories of electronic test equipment from many manufacturers. From DMM's to Spectrum Analyzers and RF power meters, Acetech can handle your toughest repairs.
DHR Corporation Announces Record 2004 Fourth Quarter Results Danaher Corporation announced results for the fourth quarter and year ended December 31, 2004. Net earnings for the fourth quarter of 2004 were $217.7 million, or $0.67 per diluted share, a 26% increase compared with $169.9 million, or $0.53 per diluted share for the fourth quarter of 2003. Sales for the 2004 fourth quarter were $1,979.6 million compared to $1,488.8 million for the fourth quarter of 2003, an increase of 33%. Sales for 2004 were $6,889.3 million compared to $5,293.9million in 2003, an increase of 30%. The Company also announced today that it has expanded its reporting to three segments. The three segments are Professional Instrumentation, Industrial Technologies and Tools and Components. The Professional Instrumentation segment will include the Environmental, Medical Technology and Electronic Test platforms. The Industrial Technologies segment will include the Motion and Product Identification platforms as well as our focused niche businesses previously included in the Process/Environmental Controls segment. The Tools and Components segment will remain unchanged. H. Lawrence Culp, Jr., President and Chief Executive Officer, stated, “We are pleased to report record fourth quarter and full year results. The 33% sales increase included an 8.5% increase in sales from existing businesses as we experienced strong gains across all three of our segments. We have again achieved record cash flow with 2004 operating cash flow of $1,033.2 million, a 20% increase over the 2003 level of $861.5 million. 2004 was an outstanding year and we remain optimistic about the opportunities ahead in 2005.”
National Instruments reported record fourth quarter revenue of $137 million, a 9 percent sequential increase from Q3 2004. For 2004, revenue totaled $514 million, up 21 percent from $426 million in 2003, marking record annual revenue for National Instruments and the company's 27th year of revenue growth. "Our strategic investment in R&D paid off with a record number of new products released in 2004," said Dr. James Truchard, NI president and CEO. "I am pleased with the progress the company has made in establishing strategic new growth areas for virtual instrumentation, such as high-performance measurements, industrial and machine control, and graphical system design, where we have seen early success." "With a 21 percent increase in revenue year-over-year and 46 percent increase in net income, we are pleased to deliver on our goal of driving operating leverage in 2004," said NI CFO Alex Davern. "We have passed the milestone of half a billion dollars in revenue, making significant progress toward our goal of reaching $1 billion in revenue in 2008." Geographically, the growth of revenue in U.S. dollar terms for Q4 2004 compared to Q4 2003 was as follows: up 15 percent in the Americas and up 11 percent in Europe and Asia, equaling overall growth of 12 percent. In local currency terms, revenue was up 1 percent in Europe and up 10 percent in Asia, for an overall local currency growth of 8 percent.
AMETEK Achieves Record Fourth Quarter and Full-Year Results AMETEK Inc. announced fourth quarter and full-year results that established records for sales, operating income, net income and diluted earnings per share. AMETEK's fourth quarter 2004 sales of $326.3 million were up 17% over the same period of 2003. Operating income for the fourth quarter of 2004 was $54.8 million, a 31% increase from the $41.9 million recorded in the same period of 2003. Net income in the fourth quarter of 2004 increased 29% to $31.4 million, or $.45 per diluted share, from fourth quarter 2003 levels of $24.4 million, or $.36 per diluted share. Sales, operating income, net income, and diluted earnings per share were quarterly records. "AMETEK had a tremendous 2004," noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. "Solid internal growth in each of our segments and contributions from acquired businesses enabled us to post a double-digit sales increase. Our record earnings performance benefited from an improved mix of businesses and our focused operational excellence initiatives." For the 2004 fourth quarter, AMETEK's Electronic Instrument Groups (EIG) sales increased 21% to $184.3 million. Operating income for the fourth quarter was $40.2 million, compared with $28.2 million in the fourth quarter of 2003, an increase of 42%. "EIG sales were up in the quarter on internal growth across the group, including strong growth in our long cycle aerospace and power businesses and the contribution from the Taylor Hobson acquisition. EIG margins were up sharply as we captured the leverage in our business model," added Mr. Hermance. |
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