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Amphenol Corporation Reports in-line Earnings (APH)

Amphenol Corporation (NYSE: APH) reported second quarter EPS of $0.95 versus consensus $0.94. EPS rose 10 percent year over year. Revenue came in at $1.14 billion versus analyst consensus $1.14 billion.
The company also announced that its board of directors approved an increase in its quarterly dividend from $.105 per share to $.20 per share.
Amphenol President and Chief Executive Officer, R. Adam Norwitt, stated,
“We are pleased to report strong second quarter sales up 7% over the comparable 2012 quarter and 5% sequentially. The sales growth over last year was driven by increases in nearly all of our served markets led by the commercial aerospace, automotive, mobile networks and broadband markets with contributions from both organic growth and our acquisition program. Sequentially, we grew in the information technology and data communications, mobile networks, broadband, industrial and automotive markets, but experienced modest sequential declines in the mobile device and defense markets. Our strong growth is further confirmation of the significant benefits of the Company’s technology leadership and diversification. We are encouraged to have achieved orders of $1.177 billion in the second 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 19.7%, driving strong 10% EPS growth and record EPS of $.95 in the quarter. These results are a direct result of our management team’s ability to react quickly in a dynamic environment, especially given the continuing high levels of uncertainty in most of the world’s economies. I am very proud of our organization as we continue to execute well.”

[stock-tools exchange="NYSE" symbol="APH" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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