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(APH - Get Report)
designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems and coaxial and flat-ribbon cable.
Our buy rating for Amphenol has been in place since June 2003. The company reported record earnings-per-share growth of 33% year over year for the second quarter of fiscal 2008, along with record sales that rose 23% to $846.8 million. The global communications, military and commercial aerospace markets performed particularly well for the company, although growth was broad based.
Net income for the second quarter rose to $110 million from $84 million a year ago. During the quarter, Amphenol broadened its technology offering in the military market by completing the acquisition of a U.S. manufacturer of audio interconnect products for that market. Additionally, the company's profitability and cash flow remained strong in the second quarter.