Allient Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Allient Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial status and business operations.</b>

AI Summary

ALLIENT INC (ALNT) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Allient Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data for fiscal year end December 31. 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. and Hathaway Corp. The SIC code for Allient Inc. is 3825, Instruments for Meas & Testing of Electricity & Elec Signals.

Why It Matters

For investors and stakeholders tracking ALLIENT INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance data for Allient Inc., crucial for evaluating the company's current health and future prospects. Understanding the company's historical name changes and current operational details helps in contextualizing its market position and strategic evolution.

Risk Assessment

Risk Level: low — ALLIENT INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess Allient Inc.'s performance and identify any emerging trends or risks.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-08 — Filing Date (Filed as of Date)
• 1231 — Fiscal Year End (Fiscal Year End)
• 0000046129 — Central Index Key (Company Central Index Key)

Key Players & Entities

• Allient Inc. (company) — Filer name
• Allied Motion Technologies Inc. (company) — Former company name
• Hathaway Corp. (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
• 3825 (industry) — Standard Industrial Classification

FAQ

Industry Context

Allient Inc. operates within the Instruments for Measurement & Testing of Electricity & Electric Signals industry (SIC 3825).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review the income statement for revenue trends and profitability.
3. Examine cash flow statements to understand operational, investing, and financing activities.

Year-Over-Year Comparison

This is the initial filing provided for analysis, so no comparison to a previous filing is available.

Filing Documents

• alnt-20240331x10q.htm (10-Q) — 1638KB
• alnt-20240331xex10d4.htm (EX-10.4) — 23KB
• alnt-20240331xex31d1.htm (EX-31.1) — 10KB
• alnt-20240331xex31d2.htm (EX-31.2) — 10KB
• alnt-20240331xex32d1.htm (EX-32.1) — 5KB
• alnt-20240331xex32d2.htm (EX-32.2) — 5KB
• alnt-20240331xex10d4001.jpg (GRAPHIC) — 18KB
• alnt-20240331xex10d4002.jpg (GRAPHIC) — 4KB
• 0001558370-24-007342.txt (&nbsp;) — 8225KB
• alnt-20240331.xsd (EX-101.SCH) — 47KB
• alnt-20240331_cal.xml (EX-101.CAL) — 60KB
• alnt-20240331_def.xml (EX-101.DEF) — 178KB
• alnt-20240331_lab.xml (EX-101.LAB) — 505KB
• alnt-20240331_pre.xml (EX-101.PRE) — 345KB
• alnt-20240331x10q_htm.xml (XML) — 1662KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page No. Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets – Unaudited 1 Condensed Consolidated Statements of Income and Comprehensive Income – Unaudited 2 Condensed Consolidated Statements of Stockholders' Equity – Unaudited 3 Condensed Consolidated Statements of Cash Flows – Unaudited 4 Notes to Condensed Consolidated Financial Statements – Unaudited 5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 5. Other Information 28 Item 6. Exhibits 29 Table of Contents ALLIENT INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share data) (Unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 31,514 $ 31,901 Trade receivables, net of provision for credit losses of $ 1,165 and $ 1,240 at March 31, 2024 and December 31, 2023, respectively 87,905 85,127 Inventories 124,909 117,686 Prepaid expenses and other assets 15,646 13,437 Total current assets 259,974 248,151 Property, plant, and equipment, net 70,349 67,463 Deferred income taxes 7,132 7,760 Intangible assets, net 110,236 111,373 Goodwill 133,159 131,338 Operating lease assets 22,911 24,032 Other long-term assets 7,838 7,425 Total Assets $ 611,599 $ 597,542 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 38,961 $ 39,129 Accrued liabilities 34,147 56,488 Total current liabilities 73,108 95,617 Long-term debt 240,176 218,402 Deferred income taxes 4,760 4,337 Pension and post-retirement obligations 2,781 2,679 Operating lease liabilities 18,478 19,532 Other long-term liabilities 5,166 5,400 Total liabilities 344,469 345,967 Commitments and contingencies (Note 11) Stockholders' Equity: Common stock, no par value, authorized 50,000 shares; 16,906 and 16,308 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 109,576 95,937 Preferred stock, par value $ 1.00 per share, authorized 5,000 shares; no shares issued or outstanding — — Retained earnings 172,215 165,813 Accumulated other comprehensive loss ( 14,661 ) ( 10,175 ) Total stockholders' equity 267,130 251,575 Total Liabilities and Stockholders' Equity $ 611,599 $ 597,542 See accompanyi

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View this 10-Q filing on SEC EDGAR