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8-K - LIVE FILING - AMETEK INC/ | htm_51578.htm |
Exhibit 99.1
CORPORATE OFFICE
1100 Cassatt Road, Berwyn, PA 19312
Contact: Kevin C. Coleman (610) 889-5247
AMETEK INCREASES SHARE REPURCHASE AUTHORIZATION
Berwyn, PA, April 2, 2015 AMETEK, Inc. (NYSE: AME) today announced that its Board of Directors has increased the authorized level for repurchases of its common stock by $350 million. This increased authorization will be added to the approximately $20 million that currently remains available from an existing authorization approved by the Board of Directors in November 2014.
Frank S. Hermance, AMETEKs Chairman and Chief Executive Officer said, This increased share repurchase authorization provides us the flexibility to continue to opportunistically repurchase our common stock. Share repurchases will remain a modest use of our strong cash flow, with strategic acquisitions remaining the primary use.
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices
with 2014 sales of $4.0 billion. AMETEKs Corporate Growth Plan is based on Four Key Strategies:
Operational Excellence, Strategic Acquisitions, Global & Market Expansion and New Products.
AMETEKs 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 500
Index.
Forward-looking Information
Statements in this news release relating to future events, such as AMETEKs expected business and
financial performance are forward-looking statements. Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to differ significantly from
expectations. These factors and uncertainties include our ability to consummate and successfully
integrate future acquisitions; risks associated with international sales and operations; our
ability to successfully develop new products, open new facilities or transfer product lines; the
price and availability of raw materials; compliance with government regulations, including
environmental regulations; changes in the competitive environment or the effects of competition in
our markets; the ability to maintain adequate liquidity and financing sources; and general economic
conditions affecting the industries we serve. A detailed discussion of these and other factors that
may affect our future results is contained in AMETEKs filings with the U.S. Securities and
Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K. AMETEK
disclaims any intention or obligation to update or revise any forward-looking statements.
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