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APH Down for Quarter, Year
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Business New Haven
2/4/2002
By: BNH
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WALLINGFORD - Amphenol Corp. (NYSE: APH) announced fourth-quarter 2001 diluted earnings per share of 37 cents, compared to 76 cents for the 2000 period. Sales for the quarter were $260,372,000, compared to $369,449,000 for the 2000 period. For the year ended December 31, diluted earnings per share was $1.95, compared to $2.52 per share for the year 2000. Sales for the year were $1,103,771,000, compared to $1,359,702,000 for the previous year. Currency translation had the effect of decreasing sales by approximately $22.8 million for the year 2001 when compared to the year 2000.
Explained Amphenol Chairman and CEO Martin H. Loeffler: “The fourth quarter results reflect a continuation of the economic slowdown; sales were down 29 percent compared to fourth quarter 2000. The most significant decline was in sales of coaxial cable for broadband communication systems; sales to telecom infrastructure, datacom and industrial markets were also substantially lower and sales to the automotive markets were modestly lower than last year.”
Added Loeffler, “Despite the decline in sales, profitability remains comparatively strong through the continuing development of new higher margin application specific products and aggressive programs of cost control.”
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