(Reuters) – Industrial technology solutions provider Ametek Inc on Tuesday reported a better-than-expected profit for the fourth quarter, as fruitful acquisitions and high sales growth in its aerospace and defense businesses led to margin expansion.

The company, which supplies products to a diverse set of markets including oil and gas and medical device manufacturers, also expects full-year 2024 adjusted earnings between $6.70 and $6.85 per share, a 5% to 7% growth from the year ago.

Ametek posted 7% revenue growth in its Electronic Instruments segment and 6% growth in its Electromechanical group segment in the reported quarter.

The Berwyn, Pennsylvania-based company reported adjusted earnings per share of $1.68 for the quarter ended Dec. 31, above analysts’ estimates of $1.63.

It posted quarterly sales of $1.73 billion, 6.5% higher than the same period last year, and in line with estimates, according to LSEG data.

Shares of the company were up 1.13% in pre-market trade.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Shailesh Kuber)

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