Amphenol Reports Higher Q1 Net Income and Provides Guidance for Q2
Amphenol Corporation, a producer of electronic and fiber optic connectors, has reported that net income attributable to the company for the first quarter ended March 31, 2013 was $153.01 million, or $0.94 per diluted share, compared to $126.56 million, or $0.77 per diluted share, for the same quarter ended March 31, 2012. The company expects revenues in the range of $1.11 billion to $1.14 billion, and diluted EPS to be in the range of $0.92 to $0.95 per share for the second quarter of 2013.
Net sales for the first quarter ended March 31, 2013 were $1.08 billion, compared to $981.6 million for the same quarter ended March 31, 2012. Operating income for the first quarter ended March 31, 2013 was $206.96 million, compared to $185.28 million for the same quarter ended March 31, 2012. Gross profit for the first quarter ended March 31, 2013 was $337.89 million, compared to $309.27 million for the same quarter ended March 31, 2012. For the year 2013, the company expects revenues to be in the range of $4.58 billion to $4.65 billion, and diluted EPS to be in the range of $3.76 to $3.85, compared to previous guidance of $3.72 to $3.84.
Adam Norwitt, Amphenol president and CEO, said, “We are pleased to report strong first quarter results with sales up 10% and EPS (excluding one-time items) up 13% over the comparable 2012 quarter. The sales growth was driven by increases in nearly all of our served markets led by mobile devices, commercial aerospace, broadband communications and industrial, with contributions from both organic growth and our acquisition program. This strong growth is further confirmation of the significant benefits of the company’s technology leadership and diversification. We are especially encouraged to have achieved strong orders of $1.120 billion in the first quarter, representing a book-to-bill of 1.04 to 1. In addition, it is extremely rewarding that the company’s unique entrepreneurial culture continues to drive an unwavering focus on profitability, resulting in an operating margin improvement of 30 basis points over the prior year quarter to 19.2.”
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