AMETEK Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. Fourth quarter 2013 sales of $942.5 million, compared to $841.79 million, up 12% over the same period of 2012. Operating income for the fourth quarter of 2013 was $210.5 million, an 11% increase from $190.0 million recorded in the same period of 2012. Operating margins were 22.3% in the quarter, as compared to 22.6% in last year's quarter. Net income in the fourth quarter of 2013 increased 13% to $135.7 million from $119.9 million in last year's fourth quarter. Diluted earnings per share increased 12% to $0.55 per diluted share from the fourth quarter 2012 level of $0.49 per diluted share. Operating cash flow was $210 million for the quarter. Income before income taxes was $186.46 million, compared to $170.8 million for the last year. Capital spending was $26 million for the quarter.

For the full year, the company achieved record levels of sales, operating income, operating margins, net income and diluted earnings per share. Full year sales were $3.6 billion, compared to $3.33 billion, up 8% from 2012. Operating income in 2013 was $815.1 million, compared with $745.9 million last year, up 9%. Operating margins for 2013 of 22.7% were a 30 basis point improvement over 2012. Net income for the full year 2013 was $517.0 million, a 13% increase from the $459.1 million earned in 2012. Diluted earnings per share were $2.10 for 2013, up 12% from the $1.88 earned in 2012. Income before income taxes was $724.795 million, compared to $662.475 million for the last year. Capital spending was $63 million for the quarter. Full year operating cash flow was $661 million, also up 8%.

First quarter 2014 sales are expected to be up high single digits from last year's first quarter. The company estimates earnings to be approximately $0.55 to $0.57 per diluted share, an increase of 8% to 12% over last year's first quarter of $0.51 per diluted share.

The company anticipates 2014 revenue to be up high single digits on a percentage basis from 2013. Earnings for 2014 are expected to be in the range of $2.30 to $2.35 per diluted share, up 10% to 12% over 2013, reflecting the leveraged impact of core growth, continued operational excellence initiatives, and the benefit of contributions from recent acquisitions. The company estimates tax rate to be between 28% and 29%. 2014 capital expenditures are expected to be approximately $70 million. 2014 depreciation and amortization is expected to be approximately $134 million.