logo
Share SHARE
FONT-SIZE Plus   Neg

Amphenol Q1 Earnings Top Estimates, Lifts Full-year View - Update

Amphenol Corp. (APH) reported Wednesday a decline in first-quarter profit, while earnings per share increased and beat Street expectations. The fiber-optic cable maker also issued guidance for the second quarter and lifted its full-year 2012 view.

Adam Norwitt, president and chief executive officer of the company said, "On a year-over-year basis, strength in automotive, commercial aerospace, broadband communications and industrial markets offset declines in the defense and wireless markets, reflecting the significant benefits of the Company's diversity."

In the first quarter, net income attributable to the company declined to $126.56 million from $127.96 million in the previous year.

On a per share basis, earnings were $0.77, up from $0.72 per share, on lower share count. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 4 percent to $981.6 million from $940.59 million in the prior year, which also exceeded analysts' estimate of $972.14 million. Currency translation decreased sales by around $4 million.

Looking ahead to the second quarter, the company expects earnings per share to be in the range of $0.82 to $0.85. Revenues are expected to be between $1.04 billion and $1.055 billion. Analysts expect the company to earn $0.83 per share, on revenues of $1.03 billion for the second quarter.

For the full year 2012, earnings per share are now expected to be in the range of $3.30 to $3.38, up from the prior forecast of $3.23 to $3.34 per share. Revenues are anticipated to be between $4.105 billion and $4.190 billion, compared to the prior outlook of $4.050 billion to $4.150 billion.

Analysts are looking for earnings of $3.33 per share, on revenues of $4.16 billion for the year.

APH is currently trading at $57.56, down $2.39 or 3.98 percent, on a volume of 610 thousand shares on the Nasdaq.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Etihad Airway's Chief Executive Officer James Hogan will leave in the second half this year. Hogan has been with the Abu Dhabi based aviation group since 2006. Chief Financial Officer James Rigney also will depart from service. Seafood lovers must now be prepared to dole out more cash than before for salmon. The price of salmon has surged globally and is now at historic highs amid acute outbreaks of sea lice. According to data from the Nasdaq Salmon Index, the price of salmon has risen by more than 15 percent in the last three months. Health-food restaurant chain Freshii Inc. has increased the price range for its initial public offering in Canada. Freshii has raised the price range for its IPO to C$10 to C$11.50 per share from the prior range of C$8.50 to C$10.0 per share, BNN reported.
comments powered by Disqus
Follow RTT