Altra Holdings Inc. was recently ranked No. 3 in Boston Globe’s “100 Best Performing Public Companies in Massachusetts”. Altra, headquartered in Braintree, Mass., was the top industrial company on the 2012 list.
Altra Holdings’ growth in 2011 was spurred by its acquisition of Bauer Gear Motor, a leading European manufacturer of engineered gear drives. The Bauer purchase, combined with strong demand from the mining and energy markets, increased Altra’s 2011 revenues to $675 million, 30 percent over the previous year. Without including the Bauer acquisition, revenues were still up 17 percent. Net income in 2011 also rose to $38 million, a 54 percent jump over 2010.
“Last year’s revenues of $675 million was a benchmark for us,” said Carl Christenson, Altra President and CEO. “But we see the growth continuing. We expect to be a billion-dollar company within the next three or four years.”
The Globe 100 ranks Massachusetts-based public companies based on financial data from the four quarters ending December 31, 2011. To be eligible, the company must be traded publicly for the entire 2011 calendar year on the New York Stock Exchange, the Nasdaq or the American Stock Exchange and report revenue and profit for both 2010 and 2011. Companies are ranked on four criteria: return on average equity, one-year percentage change in revenue, one-year percentage change in profit margin and 2011 revenue.
Altra Industrial Motion Inc.
Filed Under: Factory automation, Mechanical, Motion control • motor controls, Mechatronics