Allient Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Allient Inc. has submitted its annual 10-K filing for the fiscal year ended December 31, 2023.</b>

AI Summary

ALLIENT INC (ALNT) filed a Annual Report (10-K) with the SEC on March 5, 2024. Allient Inc. filed its 2023 Form 10-K on March 5, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 495 Commerce Drive, Suite 3, Amherst, NY 14228. Allient Inc. was formerly known as Allied Motion Technologies Inc. The SIC code for Allient Inc. is 3825, related to instruments for measuring and testing electricity and electric signals.

Why It Matters

For investors and stakeholders tracking ALLIENT INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Allient Inc.'s financial performance, business operations, and risk factors for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. Understanding the details within this filing, such as financial statements and risk disclosures, is essential for stakeholders to make informed investment decisions regarding Allient Inc.

Risk Assessment

Risk Level: medium — ALLIENT INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for public companies. However, the specific financial details and risk factors within the report will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and risk factor sections of the 10-K to understand Allient Inc.'s performance and potential challenges in fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-05 — Filing Date (Filed as of date)
• 3825 — SIC Code (Standard Industrial Classification)
• CO — State of Incorporation (State of incorporation)

Key Players & Entities

• Allient Inc. (company) — Filer name
• Allied Motion Technologies Inc. (company) — Former company name
• Hathaway Corp (company) — Former company name
• Hathaway Instruments Inc (company) — Former company name
• 495 Commerce Drive, Suite 3 (location) — Business address
• Amherst (location) — Business address city
• NY (location) — Business address state
• 14228 (location) — Business address zip

FAQ

Industry Context

Allient Inc. operates within the instruments for measuring and testing of electricity and electric signals industry (SIC 3825). This sector involves the design, manufacture, and sale of devices used for electrical measurement and testing.

Regulatory Implications

As a public company, Allient Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the financial statements (income statement, balance sheet, cash flow statement) within the 10-K.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing Allient Inc.
3. Examine the Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) for insights into the company's performance drivers.

Key Dates

• 2023-12-31: Fiscal Year End — The end of the reporting period for the 10-K filing.
• 2024-03-05: Filing Date — The date Allient Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This is the initial filing data provided, so a comparison to a previous filing is not possible.

Key Financial Figures

• $276,093 — : Backlog as of December 31, 2023 was $276,093 compared with $330,078 as of December 3
• $330,078 — ber 31, 2023 was $276,093 compared with $330,078 as of December 31, 2022. Included in ba
• $2,344 — d in backlog as of December 31, 2023 is $2,344 from the acquisition completed in 2023.

Filing Documents

• alnt-20231231x10k.htm (10-K) — 2429KB
• alnt-20231231xex4d1.htm (EX-4.1) — 16KB
• alnt-20231231xex19.htm (EX-19) — 98KB
• alnt-20231231xex21.htm (EX-21) — 9KB
• alnt-20231231xex23d1.htm (EX-23.1) — 3KB
• alnt-20231231xex31d1.htm (EX-31.1) — 10KB
• alnt-20231231xex31d2.htm (EX-31.2) — 10KB
• alnt-20231231xex32d1.htm (EX-32.1) — 5KB
• alnt-20231231xex32d2.htm (EX-32.2) — 6KB
• alnt-20231231xex97.htm (EX-97) — 31KB
• alnt-20231231x10k001.jpg (GRAPHIC) — 70KB
• alnt-20231231xex19001.jpg (GRAPHIC) — 15KB
• alnt-20231231xex97001.jpg (GRAPHIC) — 11KB
• 0001558370-24-002487.txt (&nbsp;) — 11981KB
• alnt-20231231.xsd (EX-101.SCH) — 62KB
• alnt-20231231_cal.xml (EX-101.CAL) — 83KB
• alnt-20231231_def.xml (EX-101.DEF) — 292KB
• alnt-20231231_lab.xml (EX-101.LAB) — 690KB
• alnt-20231231_pre.xml (EX-101.PRE) — 497KB
• alnt-20231231x10k_htm.xml (XML) — 2418KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 19 Item 1C. Cybersecurity 19 Item 2.

Properties

Properties 21 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6. [ Reserved] 23 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A. Qualitative and Quantitative Disclosures About Market Risk 33 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 35 Item 9. Changes in and Disagreements with Accountants and Financial Disclosure 66 Item 9A.

Controls and Procedures

Controls and Procedures 66 Item 9B. Other Information 68 PART III. Item 10. Directors, Executive Officers and Corporate Governance 68 Item 11.

Executive Compensation

Executive Compensation 68 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68 Item 13. Certain Relationships and Related Transactions, and Director Independence 68 Item 14. Principal Accountant Fees and Services 68 PART IV. Item 15. Exhibits and Financial Statement Schedules 69

Signatures

Signatures 72 2 Table of Contents Disclosure Regarding Forward-Looking Statements All statements contained herein that are not statements of historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and may contain the word "believe," "anticipate," "expect," "project," "intend," "will continue," "will likely result," "should" or words or phrases of similar meaning. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from the expected results described in the forward-looking statements. The risks and uncertainties include those associated with: the domestic and foreign general business and economic conditions in the markets we serve, including political and currency risks and adverse changes in local legal and regulatory environments; the severity, magnitude and duration of weather, natural disaster, or pandemic-related events, including impacts of businesses' and governments' responses to such events on our operations and personnel, and on commercial activity and demand across our and our customers' businesses, and on global supply chains; the ability to protect the Company's intellectual property; our ability to sustain, manage or forecast our growth and product acceptance to accurately align capacity with demand; the continued success of our customers and the ability to realize the full amounts reflected in our order backlog as revenue; the loss of significant customers or the enforceability of the Company's contracts in connection with a merger, acquisition, disposition, bankruptcy, or otherwise; our ability to meet the technical specifications of our customers; the performance of subcontractors or suppliers and the continued availability of parts

Business

Item 1. Business. OVERVIEW Effective August 23, 2023, Allied Motion Technologies Inc. ("Allied Motion") changed its name to Allient Inc. ("Allient" or the "Company"). In conjunction with the name change, Allient's ticker symbol has changed from "AMOT" to "ALNT". The name change reflects the Company's commitment to and progress in transforming its business from a products-based business in motion control to a solutions-oriented company that addresses its customers' requirements for Motion, Controls and Power technologies for a multitude of applications. We are a global company that designs, manufactures and sells precision and specialty controlled motion components and systems used in a broad range of industries. Our target markets include Industrial, Vehicle, Medical, and Aerospace & Defense (A&D). We are headquartered in Amherst, NY, and have global production operations and sell to markets across the United States, Canada, South America, Europe and Asia-Pacific. We are known worldwide for our expertise in electro-magnetic, mechanical and electronic motion technology. We sell component and integrated controlled motion solutions to end customers and OEMs through our own direct sales force and authorized manufacturers' representatives and distributors. Our products and solutions include nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor-drives, gear motors, gearing, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, Industrial safety rated input/output Modules, Universal Industrial Communications Gateways, light-weighting technologies, and other controlled motion-related products. Allient was established in 1962 under the laws of Colorado and operates in the United States, Canada, Mexico, Europe and Asia-Pacific. We are headquartered in Amhe

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View this 10-K filing on SEC EDGAR