EX-99.1

CORPORATE OFFICE
37 North Valley Road, Building 4, P.O. Box 1764, PAOLI, PA 19301-0801

AMETEK ACHIEVES RECORD QUARTERLY RESULTS
—Sales Increase 35%, Net Income Rises 38%—

Paoli, PA, October 19, 2006 – AMETEK, Inc. (NYSE: AME) today announced third quarter results that established quarterly records for sales, operating income, net income and diluted earnings per share.

AMETEK’s third quarter 2006 sales of $464.2 million were up 35% from the $344.5 million recorded in the third quarter of 2005. Operating income for the third quarter of 2006 was $79.8 million, up 39% from the third quarter of 2005. Net income in the third quarter of 2006 increased 38% to $47.4 million, or $.67 per diluted share, from the third quarter 2005 level of $34.4 million, or $.49 per diluted share.

“AMETEK had an outstanding quarter which exceeded our expectations,” noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer. “Strong internal growth of 13%, combined with the contributions from acquired businesses drove the top-line growth. Excellent performance in our long-cycle aerospace and power businesses and continued strong results in our process and analytical instrument business drove the internal growth. Earnings were up sharply as well, with net income increasing 38% and operating income margins increasing 60 basis points,” he commented.

Operating cash flow continues to be very strong, totaling $59 million for the third quarter of 2006, up 26% from the third quarter of 2005. For the first nine months of 2006, operating cash flow of $161 million is up 46% over the same period of 2005.

For the first nine months of 2006, AMETEK sales increased 30% to $1.34 billion from $1.03 billion in the same period of 2005. Operating income totaled $229.7 million, a 35% increase from $170.1 million earned in the first nine months of last year. Net income for the first nine months of 2006 was $134.1 million, up 35% from $99.5 million in the same period of 2005. Diluted earnings per share were $1.89 for the first nine months of 2006, up 33% from $1.42 per diluted share in the first nine months of 2005.

Electronic Instruments Group (EIG)
EIG’s third quarter 2006 sales were $262.3 million, up 28% from last year’s level of $205.5 million. Third quarter group operating income was up 22% to $52.0 million, versus $42.6 million in the same period of 2005. Group operating margins were 19.8%, as compared with 20.7% in the third quarter of 2005. Last year’s third quarter operating income included a gain on the sale of a facility of approximately $4 million. Without this gain, last year’s third quarter operating income margin would have been 18.6%.

“EIG had an excellent quarter,” noted Mr. Hermance. “Revenue for the Group was up 28% driven by strength in our aerospace, power and process businesses as well as the contribution from the acquisitions of Solartron, Land Instruments and Pulsar. Operating income improved significantly and was driven by the top-line strength and our operational excellence initiatives.”

Electromechanical Group (EMG)
EMG’s sales of $201.9 million were up 45% from $139.0 million in the third quarter of 2005. Third quarter group operating income of $36.2 million was up 66%, versus $21.8 million reported for the same period of 2005. EMG’s operating income margin in the third quarter of 2006 was 17.9%, up sharply from the third quarter of 2005 level of 15.7%.

“EMG had a tremendous quarter. Sales were up sharply, driven by solid core growth and the contribution from the acquisitions of HCC Industries and PennEngineering Motion Technologies. Profitability was strong as a result of the increased sales volume and broad-based operating improvements,” commented Mr. Hermance.

2006 Outlook
“We expect 2006 revenue to grow by approximately 25%,” commented Mr. Hermance. “Given our strong year to date results and the expectation of continued strength in our markets, we anticipate our full year 2006 earnings to be in the range of $2.52 to $2.54 per diluted share, an increase of 30% to 31% over the 2005 level of $1.94 per diluted share and in-line with the revised guidance we issued on October 12, 2006.”

“Our fourth quarter 2006 sales are expected to be up approximately 15% from last year’s fourth quarter. We expect fourth quarter earnings will be approximately $.63 to $.65 per diluted share, an increase of 21% to 25% over last year’s fourth quarter,” concluded Mr. Hermance.

Accounting for Stock Options
The above operating results reflect the adoption of FAS 123R, effective January 1, 2006, for expensing stock options under the modified retrospective method. Results for 2005 have been adjusted on this basis.

Conference Call
AMETEK, Inc. will Web cast its Third Quarter 2006 investor conference call on Thursday, October 19, 2006, beginning at 8:30 AM ET. The live audio Web cast will be available at www.ametek.com and at www.streetevents.com. To access the Web cast from ametek.com, click on “Investors” and a link will be provided to access the Web cast. The call will also be archived at www.ametek.com/investors.

Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of approximately $1.8 billion. AMETEK’s Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital.
The common stock of AMETEK is a component of the S&P MidCap 400 Index and the Russell 1000 Index.

Forward-looking Information
Statements in this news release that are not historical are considered “forward-looking statements” and are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK’s Securities and Exchange Commission filings.

AMETEK, Inc.
CONSOLIDATED STATEMENT OF INCOME (Unaudited)
(In thousands, except per share amounts)


	Three months ended						Nine months ended
	September 30,						September 30,
	2006			2005 (a)			2006			2005 (a)

Net sales	$	464,164		$	344,529		$	1,338,616		$	1,030,676

Expenses:
Cost of sales, excluding depreciation		318,275			234,007			919,351			711,090
Selling, general and administrative		56,197			44,834			160,324			124,101
Depreciation		9,862			8,446			29,211			25,363

Total expenses		384,334			287,287			1,108,886			860,554


Operating income		79,830			57,242			229,730			170,122

Other expenses:
Interest expense		(11,162	)		(7,628	)		(31,551	)		(22,962	)
Other, net		17			(1,446	)		(1,309	)		(1,648	)

Income before income taxes		68,685			48,168			196,870			145,512
Provision for income taxes		21,314			13,799			62,773			46,054

Net income	$	47,371		$	34,369			134,097			99,458


Diluted earnings per share	$	0.67		$	0.49		$	1.89		$	1.42


Basic earnings per share	$	0.68		$	0.50		$	1.92		$	1.44


Average common shares outstanding:
Diluted shares		70,888			70,518			71,081			70,245

Basic shares		69,778			69,242			69,918			69,007


Dividends per share	$	0.06		$	0.06		$	0.18		$	0.18

(a)

Results for 2005 have been adjusted to reflect the retrospective application of FAS 123R to expense stock options, which was adopted effective January 1, 2006. The retrospective application reduced 2005 net income by $1.1 million, or $0.01 per diluted share for the quarter ended September 30, 2005, and by $3.2 million, or $0.03 per diluted share for the nine months ended September 30, 2005.


	Three months ended						Nine months ended
	September 30,						September 30,
	2006			2005 (a)			2006			2005 (a)
Net sales

Electronic Instruments	$	262,250		$	205,500		$	742,720		$	577,777
Electromechanical		201,914			139,029			595,896			452,899

Total Consolidated	$	464,164		$	344,529		$	1,338,616		$	1,030,676


Operating income

Electronic Instruments	$	52,000		$	42,594		$	150,111		$	118,541
Electromechanical		36,239			21,782			104,943			73,511

Total segments		88,239			64,376			255,054			192,052
Corporate and other		(8,409	)		(7,134	)		(25,324	)		(21,930	)

Total Consolidated	$	79,830		$	57,242		$	229,730		$	170,122

(a)

Operating income for 2005 has been adjusted to reflect the retrospective application of FAS 123R to expense stock options, which was adopted effective January 1, 2006. The retrospective application reduced 2005 operating income by $1.5 million for the quarter ended September 30, 2005, and by $4.4 million for the nine months ended September 30, 2005.


	September 30,		December 31,
	2006		2005
ASSETS


Current assets:
Cash, cash equivalents
and marketable securities	$	58,505	$	43,788
Receivables, net		317,679		269,395
Inventories		229,937		193,099
Other current assets		53,334		50,025

Total current assets		659,455		556,307

Property, plant and equipment, net		240,045		228,450
Goodwill		860,047		785,185
Other intangibles, investments and other assets		280,689		210,658

Total assets	$	2,040,236	$	1,780,600


LIABILITIES AND STOCKHOLDERS’ EQUITY


Current liabilities:
Short-term borrowings and current
portion of long-term debt	$	167,105	$	156,130
Accounts payable and accruals		305,625		249,662

Total current liabilities		472,730		405,792

Long-term debt		506,295		475,309
Deferred income taxes and
other long-term liabilities (a)		120,167		89,978
Stockholders’ equity (a)		941,044		809,521

Total liabilities and stockholders’ equity	$	2,040,236	$	1,780,600

(a)

Amounts for 2005 have been adjusted to reflect the retrospective application of FAS 123R, which was adopted effective January 1, 2006. The retrospective application reduced deferred income taxes and increased stockholders’ equity by $4.0 million.