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Ametek (AME) Stock Dropping on Q1 Revenue Results, Downbeat Guidance

NEW YORK (TheStreet) -- Shares of Ametek (AME - Get Report) are sinking by 7.37% to $48.48 on heavy trading volume early Thursday afternoon, following the release of the company's 2016 first quarter results.

Before the market open, the Berwyn, PA-based electronic instruments manufacturer released earnings of 57 cents per diluted share, matching analysts' estimates.

Revenue slipped by 4% to $944.4 million year-over-year and fell short of analysts' expectations of $965.3 million.

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"As expected, demand remained weak in the quarter," CEO Frank Hermance said in...