Machinery company Altra Industrial Motion Corporation AIMC reported impressive results for second-quarter 2017, with earnings and revenues surpassing their respective Zacks Consensus Estimate by 11.76% and 1.15%.The quarter’s non-GAAP earnings of 57 cents per share topped the Zacks Consensus Estimate of 51 cents. Also, the bottom line increased 35.7% from the year-ago quarter’s tally of 42 cents.Revenues totaled $223.4 million, increasing 22.3% year over year. The improvement was triggered by 4% growth in organic revenues and 18.3% positive impact from the Stromag acquisition.Also, the top line was above the Zacks Consensus Estimate of $221 million. Segmental DetailsAltra Industrial Motion reports its revenues under the following heads/segments - Couplings Clutches & Brakes, Electromagnetic Clutches & Brakes, and Gearing. A brief snapshot of the segmental sales has been provided below:Revenues generated from Electromagnetic Clutches & Brakes segment were $8.16 million, up 15.5% year over year.Couplings Clutches & Brakes segment’s sales were $12 million, surging 58.9% from the year-ago quarter.Gearing segment’s revenues inched up 0.1% year over year to $49.1 million.MarginsIn the quarter, Altra Industrial Motion’s margins profile improved on the back of revenue growth, partially offset by costs and operating expenses. Cost of sales increased 21.5% year over year while as a percentage of revenues it represented 67.7% versus 68.1% in the year-ago quarter. Gross margin improved 40 basis points (bps) to 32.3%. Selling, general and administrative expenses were roughly $41.6 million, accounting for 18.6% of revenues.Non-GAAP operating margin in the quarter was 11.2% versus 10% in the year-ago quarter.Balance Sheet & Cash FlowExiting the second quarter, Altra Industrial Motion’s cash and cash equivalents were $59 million, up from $52.9 million in the preceding quarter. Long-term debt was $308 million, down 3% sequentially.In the first half of 2017, the company’s net cash generated from operating activities fell roughly 15% year over year to $26 million. Capital spending was $14.4 million, up from $10.9 million in the year-ago period. During the period, the company paid dividends amounting to $8.3 million.OutlookFor 2017, Altra Industrial Motion anticipates benefiting from the steadily improving end-markets, savings from cost-reduction initiatives and synergistic benefits from the Stromag acquisition. On the back of these expectations as well as impressive first-half results, the company increased its revenue guidance to $850–$865 million from the previous projection of $840–$855 million.Non-GAAP earnings are anticipated to be within $1.95–$2.05 per share, up from the earlier forecast of $1.83–$1.93. Tax rate will be 29–31% while capital spending will be within $25–$30 million. Altra Industrial Motion Corp. Price and Consensus Altra Industrial Motion Corp. Price and Consensus | Altra Industrial Motion Corp. QuoteZacks Rank & Key PicksWith a market capitalization of $1.24 billion, Altra Industrial Motion currently sports a Zacks Rank #1 (Strong Buy). Other stocks worth considering in the industry include Atlas Copco AB ATLKY, Barnes Group Inc. B and Parker-Hannifin Corporation PH. While Atlas Copco sports the same Zacks Rank as Altra Industrial, both Barnes Group and Parker-Hannifin carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Atlas Copco pulled off an average positive earnings surprise of 8.34% for the last four quarters. Also, its earnings estimates for 2017 and 2018 were revised upward over the last 60 days.Barnes Group delivered an average positive earnings surprise of 8.94%. Also, earnings estimates for 2017 improved over the past 60 days.Parker-Hannifin Corporation’ financial performance was impressive, with an average positive earnings surprise of 14.94% for the last four quarters. Also, earnings estimates for fiscal 2018 were revised upward over the last 60 days.More Stock News: Tech Opportunity Worth $386 Billion in 2017From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Parker-Hannifin Corporation (PH): Free Stock Analysis Report Atlas Copco AB (ATLKY): Free Stock Analysis Report Barnes Group, Inc. (B): Free Stock Analysis Report Altra Industrial Motion Corp. (AIMC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research