AMETEK (AME) 8-K Ametek Achieves Record Fourth Quarter and Full-year Results

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 ACHIEVES RECORD FOURTH QUARTER AND FULL-YEAR RESULTS

Paoli, PA, January 24, 2007 — AMETEK Inc. (NYSE: AME) today announced fourth quarter and full-year results that established records for sales, operating income, net income and diluted earnings per share. All per share and share amounts in this release reflect the 3-for-2 stock split paid on November 27, 2006.

Fourth Quarter Results
AMETEK’s fourth quarter 2006 sales of $480.7 million were up 19% over the same period of 2005. Operating income for the fourth quarter of 2006 was $79.3 million, a 25% increase from the $63.4 million recorded in the same period of 2005. Net income in the fourth quarter of 2006 increased 30% to $47.8 million, or $.45 per diluted share, from fourth quarter 2005 levels of $36.9 million, or $.35 per diluted share. Operating income margins were up 80 basis points in the quarter. Sales, operating income, net income, and diluted earnings per share were all quarterly records.

Full-Year Results
AMETEK achieved 2006 sales of $1.82 billion, up 27% from year 2005 results. Operating income of $309.0 million was up 32% from $233.5 million for 2005. Net income grew to $181.9 million, up 33% from the $136.4 million earned in 2005, and diluted earnings per share of $1.71 were up 33% from $1.29 per share in 2005. Sales, operating income, net income, and diluted earnings per share were full-year records.

“AMETEK had a great fourth quarter, bringing to a close an excellent 2006,” noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. “Solid internal growth in each of our segments and a very good year of acquisitions drove the strong top-line growth. Operating income margins expanded 70 basis points for the full year and both net income and diluted earnings per share increased 33%. Our excellent earnings performance resulted from an improved mix of businesses and our focused operational excellence initiatives.”

Operating cash flow was very strong, totaling $65.3 million for the fourth quarter of 2006, up 44% from the fourth quarter of 2005. For the full year, operating cash flow was up 45% to $226.0 million.

Electronic Instruments Group (EIG)
For the 2006 fourth quarter, EIG sales increased 19% to $273.8 million. Operating income for the fourth quarter was $53.3 million, compared with $45.7 million in the fourth quarter of 2005, an increase of 17%. Operating margins for the quarter were 19.5%, as compared with 19.8% in the fourth quarter of 2005.

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AMETEK ACHIEVES RECORD FOURTH QUARTER AND FULL-YEAR RESULTS
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“EIG sales were up in the quarter on strong internal growth of 7% led by our process and aerospace businesses, combined with the contributions from the Land Instruments and Precitech acquisitions. EIG margins remained very strong,” added Mr. Hermance.

For the year, EIG sales of $1.02 billion were up 26% from 2005 sales of $808.5 million. Operating income was $203.4 million for 2006, up 24% versus $164.2 million earned in 2005.

Electromechanical Group (EMG)
For the fourth quarter of 2006, EMG’s sales were $206.9 million, a 20% increase over the same period of 2005. Operating income of $35.0 million was up 36% from the $25.7 million recorded in the same period of 2005. Operating margins for the quarter were 16.9%, up sharply from 14.9% in the fourth quarter of 2005.

“EMG fourth quarter sales were up 20% on excellent internal growth of 9%, driven by strength in our differentiated businesses and the contribution from the PennEngineering Motion Technologies acquisition made earlier this year. Operating margins increased 200 basis points as we saw strengthened results in both our cost driven and differentiated businesses,” noted Mr. Hermance.

For the year, EMG’s sales increased 28% to $802.8 million, compared with $626.0 million in 2005. Operating income was $139.9 million for 2006, up 41% from the $99.2 million earned in 2005.

2007 Outlook

“We expect 2007 to be another great year for AMETEK. Revenue is estimated to increase approximately 10%,” commented Mr. Hermance. “Earnings are expected to be approximately $1.93 to $1.97 per diluted share, an increase of 13% to 15% over the 2006 level of $1.71 per diluted share. The increase in estimated earnings reflects the benefits of the revenue growth and our continued focus on operational excellence.”

“First quarter 2007 sales are expected to be up mid teens on a percentage basis from last year’s first quarter. We estimate our earnings to be approximately $0.44 to $0.46 per diluted share, an increase of 16% to 21% over last year’s first quarter of $0.38,” concluded Mr. Hermance.

Accounting for Stock Options
The above operating results reflect the adoption of FAS 123R, effective January 1, 2006, for expensing stock options under the modified retrospective method. Results for 2005 have been adjusted on this basis.

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AMETEK ACHIEVES RECORD FOURTH QUARTER AND FULL-YEAR RESULTS
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Conference Call
AMETEK, Inc. will Web cast its Fourth Quarter 2006 investor conference call on Wednesday, January 24, 2007, beginning at 8:30 AM ET. The live audio Web cast will be available atwww.ametek.com/investors and atwww.streetevents.com. The call will also be archived atwww.ametek.com/investors.

Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2006 sales of $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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(Financial Information Follows)

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AMETEK, Inc.
CONSOLIDATED STATEMENT OF INCOME
(In thousands, except per share amounts)

	Three months ended						Twelve months ended
	December31,(Unaudited)						December 31,
	2006			2005 (a)			2006			2005 (a)
Net sales	$	480,674		$	403,781		$	1,819,290		$	1,434,457
Expenses:
Cost of sales, excluding depreciation		332,569			280,698			1,251,920			991,788
Selling, general and administrative		59,130			50,117			219,454			174,218
Depreciation		9,711			9,600			38,922			34,963
Total expenses		401,410			340,415			1,510,296			1,200,969
Operating income		79,264			63,366			308,994			233,488
Other expenses:
Interest expense		(10,616	)		(9,951	)		(42,167	)		(32,913	)
Other, net		(1,832	)		(640	)		(3,141	)		(2,288	)
Income before income taxes		66,816			52,775			263,686			198,287
Provision for income taxes		18,979			15,876			81,752			61,930
Net income	$	47,837		$	36,899			181,934			136,357
Diluted earnings per share (b)	$	0.45		$	0.35		$	1.71		$	1.29
Basic earnings per share (b)	$	0.46		$	0.35		$	1.74		$	1.31
Average common shares outstanding: (b)
Diluted shares		106,566			106,207			106,608			105,578
Basic shares		104,729			104,376			104,841			103,726
Dividends per share (b)	$	0.06		$	0.04		$	0.18		$	0.16

(a) Results for 2005 have been adjusted to reflect the retrospective application of FAS 123R to expense stock options, which was adopted effective January 1, 2006. The retrospective application reduced 2005 net income by $1.1 million, or $0.01 per diluted share, for the three months ended December 31, 2005, and by $4.3 million or $0.04 per diluted share, for the twelve months ended December 31, 2005.

(b) Share and per share amounts have been adjusted to reflect a three-for-two stock split paid on November 27, 2006.

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AMETEK, INC.
INFORMATION BY BUSINESS SEGMENT
(In thousands)

	Three months ended						Twelve months ended
	December 31, (Unaudited)						December 31,
	2006			2005 (a)			2006			2005 (a)
Net sales
Electronic Instruments	$	273,783		$	230,716		$	1,016,503		$	808,493
Electromechanical		206,891			173,065			802,787			625,964
Total Consolidated	$	480,674		$	403,781		$	1,819,290		$	1,434,457
Operating income
Electronic Instruments	$	53,319		$	45,707		$	203,430		$	164,248
Electromechanical		34,983			25,733			139,926			99,244
Total segments		88,302			71,440			343,356			263,492
Corporate and other		(9,038	)		(8,074	)		(34,362	)		(30,004	)
Total Consolidated	$	79,264		$	63,366		$	308,994		$	233,488

(a) Operating income for 2005 has been adjusted to reflect the retrospective application of FAS 123R to expense stock options, which was adopted effective January 1, 2006. The retrospective application reduced 2005 operating income by $1.5 million for the three months ended December 31, 2005, and by $5.9 million for the twelve months ended December 31, 2005.

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AMETEK, Inc.
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
(In thousands)

	December 31,		December 31,
	2006		2005
ASSETS
Current assets:
Cash, cash equivalents
and marketable securities	$	58,220	$	43,788
Receivables, net		328,762		269,395
Inventories		236,283		193,099
Other current assets		60,298		50,025
Total current assets		683,563		556,307
Property, plant and equipment, net		257,968		228,450
Goodwill		886,697		785,185
Other intangibles, investments and other assets		307,372		210,658
Total assets	$	2,135,600	$	1,780,600
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings and current
portion of long-term debt	$	163,608	$	156,130
Accounts payable and accruals		322,016		249,662
Total current liabilities		485,624		405,792
Long-term debt		518,267		475,309
Deferred income taxes and
other long-term liabilities (a)		164,135		89,978
Stockholders’ equity (a)(b)		967,574		809,521
Total liabilities and stockholders’ equity	$	2,135,600	$	1,780,600

(a) Amounts for 2005 have been adjusted to reflect the retrospective application of FAS 123R, which was adopted effective January 1, 2006. The retrospective application reduced deferred income taxes and increased stockholders’ equity by $4.0 million.

(b) The adoption of FAS 158 as of December 31, 2006 resulted in a decrease in stockholders’ equity of approximately $29 million.

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