AMOT - Earnings call transcript Q3 2021

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Operator

Greetings. Welcome to the Allied Motion Technologies Inc.

Third Quarter Fiscal Year 2021 Financial Results Conference Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Craig Mychajluk, Investor Relations.

begin. may You

Craig Mychajluk

and time you, Allied everyone. certainly We Yes, as good well your today in as appreciate thank morning, your Motion. interest

for Chairman, open XXXX Mike strategic After on Dick are Officer. the Q&A. going me call company's our President progress it provide Mike our and which, third an review quarter on Joining Dick and outlook. CEO; and we our Leach, the and up to Chief results will Financial and Warzala, are update

today's to of ask participants. you time part follow-ups. go do As Q&A, or additional that for certainly all limit we X back to X for queue into And could your allow questions you in the order enough

yesterday it another market on can went send after not, X:XX you should we our well this on found If morning the on website. acquisition can also financial You of copy released have closed. find a at a be release our did the a.m. as that that alliedmotion.com, website out Eastern as time around were results out that

today's website, accompany the you'll find slides also that the On discussion.

you reviewing If turn safe harbor slides, to statement. are please for X Slide those the

as company is and call. other stated results with release discussed today's by well risks earnings what Securities statements actual As factors These future discussion Exchange uncertainties materially filed may we factors are some this other on are subject as the make that from documents the formal and uncertainties events you during are well the call that statements and cause the the in as forward-looking as during aware, as to differ Commission. to and These well other with on Q&A. apply risks to could as

be during documents performance. You will call, sec.gov. website which today's in as on we'll that well I evaluating want can we at some believe discuss to useful measures, our point out non-GAAP find or these our

substitute a or in with additional of for GAAP. information accordance in You as consider this presentation the not results should isolation prepared

the provided to and X, GAAP With We please non-GAAP accompanying Dick? that, Dick earnings release to over the tables turn Slide begin. to have comparable slides. it to of reconciliations and I'll measures in turn

Dick Warzala

Thank you, Craig, welcome, everyone. and

quarter a third third $XXX and perspective. applications a increased were handling, This input strength markets, million, continued with most quarter by across strong projects. $XXX.X X% operational a markets, and strong our of grew oil industrial Backlog XX%. from across but execution and to particular, sales strong both demand in in sequentially for up automation, solutions to results our over million revenue by gas X% Total the Our led primarily year's which our last reflect and served record vehicle driven in by order recovery grew was board. electronics

X%, seen a but world. increasing, have of quarter in levels the up have Our as though A&D largely some continue variants pandemic developed strong new uptick the as year last well which return to solutions by that some prior various the demand. the be and to we and still has are activity X% year-over-year is products sequentially elective vehicle grow from markets sports third highs. year continued more Power demand did given as comparisons onset project challenged, seeing around recent was truck the but exceptionally medical surgeries COVID-related we down as encouraging. given markets very demand moderated solid, The of were its has resulting driven from construction outpace been

is margin inflationary profitability. mitigate current revenue the these actions chain environment, and are certainly increased on labor we factors expansion The pressures, including unique our to have not the alone demonstrated We shortages. growth, of the dealing effectiveness factors supply disruptions with of and implemented

adjusted and sequential on margin, year-over-year improved. a EBITDA fact, basis, gross margin operating both margins and In have

XX% solutions as automation we year controls, announced increased manufacture did automation result build including or Slide income the and to well bolt-on and expertise where inventory it our ORMEC have and Rochester, net This fairly global per electronic of $X motion total Systems operations higher for levels fits Tuesday New our develop we and share. of of growth control supply prior strengthens drives significant us products, the $X.XX in Even the a adds chain and York, quarter, acquisition from challenges, and a As million aerospace and a precision though week, to the on industries. Details diluted enabled technical over we offerings. X. this did generate our this level debt positive control $X.X further result, Multiaccess they are of advance cash reduce solutions strategically initiatives. the during flow and On electromechanical in to motion provided systems actuators as a Corporation mission-critical the million

create to build scalable our we their engineering Importantly, look to can by solution to electronics, We future Allied continue to complete Edward lead and a applications. ORMEC automation team. for solutions who forward organization welcome the well we business electromechanical the as entire mechanical Krasnicki, believe custom the expertise accelerate together software and to will bright growth leveraging Dr. as

Additionally, of product you a this already the Arvada, had Allied. acquisition built for it, solutions quality, important Equally customer not all traits I in for that And and my the very service see who to ALIO and nanometer will well powerful positioning to morning. quote release culture PR, well-recognized relay what of innovation, to In is technology/know-how with high-precision align the to of chance portfolio expertise wire excited are that may for ALIO's morning, and we those have Allied passion Industries have we Colorado. to will you offerings. is robotic -- add ALIO solution such and now. press I stated refer level this that their the our announced motion we in positioning, crossed and technology at you

patented state-of-the-art leverage motion headquartered release on microelectronics. in operations. assembly, say, to includes XXXX joint line we and rapidly little can both Hybrid for expansive and Hexapod, room a rotary silicon customized which -- team. like We founded would channels applications the bearing welcome founded ALIO well continue ALIO Point photonics, as entire pathology, the to We ALIO, Bill bit and Hennessey, Their in as product scale their dies systems, and and bring for manufacturers designs, grow sequencing, and the organization President provides engineers Allied environments. in to axis Arvada, organization our processing will and expect Mr. vacuum went repeatability, air as for ultra-high that micro genome bearing and with Allied Colorado. Press the with who laser about of market founder the systems to X air clean systems to on precision atmospheric, digital the nanotechnology, business and linear systems Precision nano mechanical

opportunities addition, external In getting and support Allied I'd these the to internal at like extend appreciation the line. to teams in our finish over both

financials. for forward business successfully global to me doing, As increasing efforts it we progressing focus to initiatives At let the a product continue record our Mike order model. in-depth of With the more the on and confident our strength and same we move with time, of footprint. are are are development our our Mike? turn review markets that, we leverage and over backlog continuing the we serving, trends, we in will what to

Mike Leach

you, Dick. Thank

in split the and a our earnings As X, our share per stock Slide X-for-X slides top in on some April. information release share all we and detail reflect line. completed provide regarding reminder, Starting

achieving year-over-year, quarter the and Third of the strategy the markets. record in was a In quarter broad-based revenue greater increased many grew markets the industrial than further our our X%. of exchange demonstrating and sequential fluctuations X% million. benefit grew X%, high quarter. demand million to revenue vehicle third recovery of up is The industrial, while success improved $XXX.X favorable a basis, in X% improving On of rate particular, consecutive underway strong on million, and was This was the vehicle $XXX $X.X is served impact in of X%. XX% medical

XX%, in X% general primarily by along A&D X.X%. of XX% to revenue timing faced sales significant and basis. ongoing Total reflected reflected the TTM on Slide pandemic, X diversified Canada on a actions in reduced impact our deferrals customers the within pandemic impact program was the our the prior gain economic of Pacific. market the revenue with primarily to reflected improving business conditions our shows were year FX, and the will order customers balance the and though Excluding is line U.S. the And with of basis, last categories. change Sales a the and the period, industrial XX-month ORMEC in year, up were are go-forward Note revenue up Asia The in the TTM mix reflects period. for model. the demand be was headwinds market and business in in industrial Europe, trailing that A&D. from

X, was Slide $XX on depicted our profit to million or million. As XX% up gross $X.X

Our basis XXX points favorable kit our volume of the mix, impact year-over-year the XX.X%, and sequentially disciplined was gross pricing XX Lean margin of levels, points up AST. execution basis expanded reflecting strong to tool and

labor While we believe long we growing team material for are some we well the margins anticipate to we Nonetheless, though, that inflation, and as is over those continue chain our have the not immune cost term, managing expect near we well. to constraints headwinds impacts as term. the as supply stated, our

Moving to X. on Slide

up million, million from XXX $X $X.X basis XXXX of sequential Third Operating million expanded and year-over-year X.X% quarter income the sequentially. margin XXX quarter up $X.X the and points quarter. operating second was third from points basis

This XXXX. On our diluted and tax offset and $X the -- net increased effectively manage was income XX.X%. line. income up see $X.XX quarter million volume. compensation, can from and We largely XX.X% Slide the for continued in was aligned share, to costs have EBITDA compared than the adjusted was and third the effective growth increased X, you more G&A quarter or revenue leverage The to per of the higher incentive our with with line results. rate bottom $X.XX which Net

the approximately of XXXX income to the We for tax fourth expect XX%. quarter be rate

prior an and capitalization recent our our was bank debt end utilize acquisitions. the the equity XX.X%, to up which EBITDA continue next I'd rate reduce is payments that $X.X from of targets. million ALIO's Slides of expected years of million, planning balance is that over million was paid increased was million cash adjusted We is income of down XXXX, to total overview our annual our net year million million year-end. of to from At adjusted $X.X composed certain earn-out the our We Excluding discrete fund quickly a sheet $X XXXX of acquisitions, the basis expectation leverage we effective of EBITDA internal strategies the solid ability net X our million potential we determining for future use quarter flow third debt to in performance. tax was paid delever and and rate. continue the XXX our full balance following or the and There total $XXX,XXX as recorded XX%. about over believe cash, basis the demonstrated of debt it reload quarter, million $XX.X and million it facility $X for growth the benefit of majority points million period. $X.X an are to We like the million based EBITDA $XX operating and cash and XX net tax out $XXX.X end Also, points. tax and pursue component. end, in for in the of basis be did $XX quarter was of We've and generated during the help year to year-to-date strategy the sales, provide Sequentially, third Adjusted to equity. tax ALIO approximately We We quarter period. XX progress our our with over first we metric XX% point in of XXX consistently of XXX on period. $XX After paid in operations will EBITDA ORMEC, million cash cash $X $XX.X was down resulting flow. $XX Debt at sheet opportunities. the the credit million achieving points quarter, quarter of X.XXx. useful to

during Continued cash stronger to supply was chain from reason was inventory flow issues as not primary build to the operations quarter. why the mitigate

continued was projects CapEx ERV quarter on largely new focused million customer well $X.X as Third and as implementations.

expect $XX XXXX Inventory CapEx and fiscal to million down from We were $XX turns million. our range XXXX. X.Xx, between

combat meet demand Our sourcing and and challenges. teams we our inventory well customer lead have time been levels as work managing to increasing

XX in to to slightly the now days Our the call quarter. I'll DSO turn over increased With that, Dick. back

Dick Warzala

Slide record and and customer backlog. again, XX trends resulted encouraging in Thank demand highlights has strengthened our as position, Mike. market you, orders

point have last of in third We $XXX X third now represents order during since year, XX% of the onset quarters growth last million reaching year's quarter. low quarter. over consecutive a the achieved the This pandemic the increase

and backlog All was the of $XXX months. at $X book-to-bill current year's our quarter million to up We challenges. our ratio X% major -- last market due and and supply next carryover to shipping of to backlog our estimate million. Approximately convert is backlog XX% million was channels third a expected over over to increased more that X.X. X% X contributing, our to X is of are to global $X sales the our quarter Backlog the over than second sequentially XX% of solid

our relatively job customers' a have our demands. this level remained has quarter from to continued last meeting do Importantly, as teams steady great

we accept shutdowns can most holiday vehicle other can we shortages demand and from fourth inventory while In seasonality the may expect do and as given customers we typical adjustments. remains and suppliers our and quarter, everything shipments well. out, some industrial strong, As look deliver, will impact

believe of pandemic. in improvement to ongoing is lessen, elective related be potential expected to supply recovery the global and chain medical with is the surgeries solid that there market if the impact challenges. demand Demand still Although from we could our

significant this benefit project a we capabilities chain in help continue Nonetheless, ORMEC this management strength the markets, to XXXX in with seeing navigate and we we From and A&D quoting increased not chain supply in some to we and an the continue our our While improvements are space beyond. believe perspective, take from expect to inflation any we approach cautious near further and landscape. dynamic foresee do activity, term. to supply can we leverage of

keeping we meet launch new retaining effectively growth-oriented our focused lines product on our new several also focused as internal critical time are team on and our opportunities We talent project several as ensuring well platforms. to

our filter. While execute of days, in acquisitions of meet still we we critical have acquisition a have announced we flexibility financial our pipeline X the and to active, is opportunities strategic elements couple last that believe the very

allocation. we our and Overall, always, strong revenue, As be prudent will of and further by developed capital One demonstrated with Allied orders have we levels record backlog, our strategy. generating execution we

expanding of deliver platform the and level high in we to a that drive have time continue have We a future. growth can confidence will that margins over

our year. $XX that average we current in you the a next acquisitions here Mike before we kind you of going above it revenues relate general expect operating amount operator the And What with the for will we of the far combination margins. well some over do I'm have it some Now gross as and around as turn to a answer that for acquisitions, some be generate is I to questions, sure X to stated approximately giving do margins are the format are and of or paid plus acquisitions. we'll -- -- the the in to has million gross questions questions

gross our margin. So continue And expanding we X about other as I think be combined strategy, to part as we that to that year-over-year. to working these gross bring goal for coming certainly achieving expand acquisitions of that some activities on margins, the close will year us as taking well talked X%

with So for the that, open operator, questions. line let's

Operator

Greg Palm Craig-Hallum. [Operator with Instructions] first question Our is from

Greg Palm

here. A lot of good stuff to unpack

in out that that amount I to were fulfill beyond? Was there QX maybe sorry know, able supply demand So a some pushed certain ship you we'll entirety impact or quarter? and or from, I to maybe of don't chains this, missed start, if the but revenue the had of you

Dick Warzala

and was what we Yes. the to pretty million definitely what Greg, is impact, much mentioned was about it's which I revenue, $X some million think we saw There $X quarter. previous in in with consistent

So there push. some was

Greg Palm

amount going this end QX same your still? And that, signs you I us mean, will do you easing? forward? that supply expect QX? do what's up with revenue getting is from to Or mean, sort to chains some for I think mean, view of we I pushed of time see be any do going of of

Dick Warzala

a I times. day, different it think places shows unfortunately, every different it's challenge single at and Well, in up

our even So don't is that inventory, there's have where still they bills -- they we that challenges not have may everything there's think and customer, going to flow, other subassemblies been ship moving as And complete customers to manufacturing what any just-in-time I we're not components need show we if reduced many we the we're in the the different have a ship. piece doing clear of to that fit to forward. these single whole I in on approach they product together taken will I've partial their reason some have delays with with a -- to expect of think up, -- components can ability they're put have see script, And inventory, to what our can my very assemblies. mentioned

which very predict -- impacted say as we're would to we But that's and when I what So demand by is if for us when the that's there. going that you well, to have to -- or hard that happen.

that almost too. still of closely of very can we're ensure And here, are with are take, they them those product ahead Our shipping can out ultimately think anything going the They're them. we I But their to customers them, they and aligned away. working get need, ship the not we products door. so us will all challenges

Greg Palm

everything sourcing lots with if can Yes. sort curious mean, focus ask event more competitive maybe drive your going on. mean, like all Makes you're I you given Motion, that positioning I'm but sense. of a to on do your subject, I it's company or And one secondary of more how an whether same the and could chains. for that And guess, about I business own think I reshoring this capabilities? talks is viewing Allied supply

Dick Warzala

happening. the -- I product, we're taking it their suppliers mean, electronic for those And hopefully, I new getting whether are on current depends it's we and long cases, Well, depends retain again, that mechanical And many are, whether can components, difficulty meeting. the components. inquiries having magnetic are about whether some in -- are business we satisfying it's shipping on products receiving we demands. that what components components mean, it's or term. it on

So can -- some and it's existing you're locked those. able satisfy the needs. though, to we with you loaded we're And to And and existing their not meet in customers. cases, doing be best your backlog may

And so -- but the we challenges them. the are and are opportunities there, there, are seeing

do long-term hopefully, for And some they additional business so for convert us.

Mike Leach

that And think globally, footprint then, support with that geographic as alluded well-positioned of capabilities, we're standpoint, to, locale. to us our I right, right, see footprint, manufacturing to you you towards from supply customers any in have movement allow Greg, happening localization support a the we expanded

Dick Warzala

we add that Yes. And to team about about sourcing we'll strengthening before and localization further strategic looking even our supply chain. the of is pandemic at talked that

that were forth. channels And I ports chain, clearly, is but so we here talked We what's not the think in logistics and past, continuing delays just path. down in that about path. down and we've supply and already So that believe, we're and happened

accelerate going going be localization. started to to think had path, I emphasis down and And we're increased that. to that we an there's continue on already

Greg Palm

going right. Best luck All forward. it. Got of

Operator

question Dick Colliers. next Ryan is Our from with

Dick Ryan

China that that next what issue -- could the standpoint power there. going from be mentioned I impact Can China Dick, revenue us the year? just rationing this to you significant facility and the a forward China Q, had -- shutdown in continues due contributes So mean if how rationing you some your refresh you over their

Dick Warzala

out And we would things. two two was the mean, from China. Controls Changzhou they Asian came plant as And a in I market. of Dynamic directly other the in part One is rehab some into to those in Suzhou of market. Suzhou. Most less in are there's plants plant exported things. primarily products, rationing Changzhou. America. delivered than of acquisition plant the our Europe those and different impacted, Suzhou, drives They I the while and electronics standpoint that's Well, from and North those are have have do say, for our

understand occur, mean, with we just is there's and the As they and rationing and long to that don't -- going as you I last work just when hit minute, it around.

is not do -- to factories try necessarily certain on days. down shut they'll what they'll certain So

fulfill say may to it. much you not in bigger be that just like do have reschedule to come but I And to much for you're demand. it's -- order there's impact. I pandemic, going they shut And and a mean, the down if a like So week, about think can and has you in

facility, whatever comes to work got back work the to through you lights the power on when it. over to just -- And it You going demand. the in we're on, takes meet back come time the or

exported. the North from mentioned, small standpoint, revenue is I in Asia. So a mean, and some relatively that America to in Europe bulk of But as our under I portion our business of plant, shifted is Suzhou is in a

we a So we'll seen push haven't -- out. see

about roving been haven't so concerned term. forth. that. with anything past. is schedule they to you new teams isn't the have and a down our dealt had we're this reduce schedule they there, the shut pretty This that pollution put We've they've And this just factories, Olympics not When in new. and We over managing seen -- would in on a effective long

it -- keep we'll we'll think around understand the and I a customers. our we to once So plan what be, way going we supplying outlook is

Dick Ryan

it the getting Okay. Say, might strong is strength -- double or some all your markets? this of across be do are that with just you you order sense flow, end ordering, any

Dick Warzala

our tell have it. customers? all Well you they need asked you They'll

it's my we're think adjust get the mean, How on. they unable to it and to When example, some experience that's there's seeing electronic there. much, mean, ordering and I don't to hard cycles, think I double on it's I I've some but so we about business think -- already, based I seen and I automotive, will the the definitely in components. what tell, over feel were If mean, will in that it's for time? you of impacts ask forth going and

going So that future. into away, demand out. the just pushed not it's being is just It's being pushed out

So we it's once. to it customers. -- difficult will it. need based to your would I Dick, markets on again, customers, I to see -- all it it. They need different answer will may now. quantify it's but And at We see you it I necessarily But hit question. differently. and be think there, And think not they It's talk our different

Dick Ryan

last the you wins, the one, One timing, Okay. revenue if have several has the can the how in or delivered that I flow much refresh And can. years? anything On to auto outlook how is date? backlog? your us large will impacted much next chain in supply over how you And

Dick Warzala

I'd as they're because many say, definitely building impacted not timing it has the vehicles. Well,

we're So not timing changing It It's -- demand. issue. in a -- the again, overall in being nothing out. -- terms seeing shifted is that is the the of

delays. they $XX-plus And from more far. components up. But we vehicles, we to the that we've we talked production, in some building get seen year into were maybe that increase rate $X coming need but as million revenue electronic revenue and they start forward, full per about as will to the talking build they move in remember, million so And to going there. vehicles ramp-up seen, we we've ramp have continue to $X million expect delivered so Currently, about

Dick Ryan

continued execution. on congratulations And strong Okay. Great.

Dick Warzala

next Instructions] question ROTH Sweeney is Gerry from Capital. Our [Operator with

Gerry Sweeney

a wanted level. acquisitions to maybe from Nice talk and about higher quarter. I

Motions from Allied maybe going time, over to think I components solutions.

longer And part you solutions into of of to going value, menu to term, you're sort -- but to think comments, with you alluded is gross I this it, your develop opportunities. as technical some higher recent at the of even alluded getting more opportunities I acquisitions, part in margin these think, just of structure curious, value-oriented to higher technical technologies. looking that your -- maybe

Dick Warzala

-- a amazing nano precision the look positioning pretty the they axis what and talked then component you're talk an control take as and they automation the the as they to with we the more And those looking complete pay manufacture, solutions we let's internally websites, the have challenge example, Happy control as accuracy. electronics, related, at the I the make you the underneath same absolutely Sure. the there would components and to the technology interface, Also that. acquisitions, come the that they from acquisitions standpoint go that another But important mean, they well being take solutions, X evolution motors. repeatability everybody previous these multiple of to us at looked -- about that adding what's encourage the and in we've and up exactly are to correct. is company the that's customer Hexapod sophisticated just stages from incorporate say, I the controls, level about to we now -- Well, again. are mean, solution. -- you've access have then things, as the those -- provided leveraging to software, well applications, as ALIO, as products at and that, for is fundamental on and could critical two so drives, together understand really of

-- precision. as that's you this And do this requires a of and the the got they see, consider it from what to to order sciences, and that or in applications standpoint you've an forth, robotic it need from standpoint life level really solution. So you're job an nano in miniaturization, automation to that so do, analysis genetic seeing precision also requires in

base through So our we're pulling products.

their of access it, install support complete many higher access, Allied through it, XX multi long now to up many at the And are doing it and they're a that axes do products automation axis pulling they build systems complete applications manufacturers. sophisticated ORMEC, term. where looking when write design, controller, We and again, we're again, we're software, at can level Multi system system synchronization, high-speed design, very

for certainly So the gets of market the And we XX where example, year a gross XXX little in expect we these for gross -- mentioned points is and what We gross two $XX is mentioned margins given more. end that their this today and margin years. from and by our at us have said XXXX. margin the stated basis can million margins that to potentially we of next profile. -- gross high stated we revenues And we goal -- And a achieve. what improve -- over the target think or on we are

involved really system element, products but strengths it and path and to meet come us the and here together all company's here. solutions and getting and that element puts more So on also more one system how the

Gerry Sweeney

That's inflation of that. jour. detail. want de start great obviously, gears, question, a topic a lot I didn't really appreciate Perfect. but I an with to Shifting

So to obviously, with some can inflation, of pricing with levers you externally, think manage customers. lot internally, deal I there's maybe a your right?

to You over could accelerate on increase. And even of here even pay When like it, toolbox some how further they much you it or look it go feels want internally, these to you inflation headwinds maybe levers is et going you cetera. or describe time do of have however to be opportunity for longer? left can while, manage still your at a if

Dick Warzala

Mike. a turn such question. tough that's to over Well, it I'll

Mike Leach

customers supportive the of the the it's current given certainly right, understanding, that's certainly I so challenge. environment environment, think -- certainly, environment the has more that yes. adjusting Well, severe been pricing, No, are although a

G&A even talked our manufacturing whether the manufacturing about opportunities levers other tools, As of out those before that's certainly, costs driving focus right, optimizing expenses to we AST. go, right, we businesses, that far operational sites Lean about always talked it's at we footprint. on whether or And line. our as We the have or our in our

channel terms So systems progress the and move evidenced well. in down components that continuing certainly, ladder continuing And capabilities from that or advanced that's down X away and of will sales again, here solutions precision to the by up us as the lead path the last lever. to as acquisitions

supply to get I the goes. agenda. There's environment working they irrespective So about our inflation the that. aggressively, are doubt think tougher, we chain it those drive longer certainly, as But of no things and

Gerry Sweeney

well. of you say some has previous and focus it. even as of Got guess your you I and almost prepared work sort can for culture this

So...

Mike Leach

time, over stronger. grown that say even would that's I Correct.

that, chain if moves global investment Our lever, will, we've as down group commitment in referenced path, to our supply Lean you us even as the another that before, our too.

So...

Gerry Sweeney

it. Got

Dick Warzala

the should... you of things One

Gerry Sweeney

Sorry, go ahead.

Dick Warzala

head, Gerry. go No,

Gerry Sweeney

you. No, I all. just Thank saying. was That's

Dick Warzala

was customized Allied make really part what clear. to that sure integral custom our of I customer components make that we're just or are say Well, I an does going is systems.

And so talk about we when I think components.

we're So where it We're components it, also time, solution and we higher the way at the leverage moving call components. can same standpoint. to a approaching from, extent at not those away from I'll level system greater a looking

standpoint. okay, if a from of lot time many that our motors equipment a back meet in designed them motor lot will side So approach does is of go we we motor are for Allied all. abandoning down in And company. make What of and and you still components not that a us continue Allied I'm customer to to motor our the -- exacting you'd that bring are at market the path. with a specifically company. is we mission-critical say, needs. solution was would a does And their

top as from the have capabilities side to market the well. we the Now approach

our to standpoint, a solution level having higher instead And together, the if together, like control at system and standpoint, automation a of So complete electronic we from the to where customers committing we assemble individual all more from positioning. from nano are putting a systems, are components them you're looking standpoint.

from So just channels, just side, up the motorize, that electronic I or channels, think opportunities side, markets to it whether us, opening gearing from clear. make opens up new okay? And new it's for the whatever, control

Gerry Sweeney

I very appreciate it. do Got helpful. That's that.

Operator

reached remarks. of question-and-answer over will now and closing the session, have end the call for the to I turn management We

Dick Warzala

here, everyone, really we call our participation. you, attending for your shareholder conference and thank appreciate again, Well,

there's times think here I at Allied. exciting

extremely worked future looking forward shareholders. of Our -- coming get team on board, our are to these to very a for hard new our a couple we think strategic and bright partners there's we're and we're ahead Allied and to us, which acquisitions,

you to now. So soon. again. talking thanks forward look Bye We to

Operator

This you time. participation. conference, and may today's at your your concludes lines Thank disconnect you for this

Allient (ALNT) 6 Nov 212021 Q3 Earnings call transcript