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Amphenol Q1 Results
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Business New Haven
4/30/2001
By: BNH
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WALLINGFORD - Amphenol Corp. (NYSE: APH) reported that first quarter diluted earnings per share grew by 40 percent to 67 cents per share, up from 48 cents per share for the same quarter a year ago. Quarterly earnings per share excluding non-cash amortization of goodwill was 75 cents per share, compared to 55 cents per share for the 2000 period. Sales for the first quarter 2001 increased by six percent to $316.7 million, up from $300 million for the 2000 period.
Explained Amphenol Chairman and CEO Martin H. Loeffler: We had an excellent quarter considering the general economic slowdown. Sales in constant dollars were up eight percent from a year ago as increased sales of interconnect products for communications, aerospace, industrial and automotive applications more than offset a decline in coaxial cable products for broadband infrastructure.”
Added Loeffler: “Profitability was strong resulting in a 40-percent increase in EPS as a richer mix of higher-margin application specific products and aggressive cost control actions preserved profit margins. However, the enormous growth we experienced last year in communication related products slowed substantially in the quarter. A significant customer of coaxial cable for broadband applications is purchasing at levels far below last year and, combined with a slowdown in international demand, this is significantly impacting our coaxial cable business.”
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