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Second Quarter 2012 Record Results Reported By Amphenol Corporation

Stocks in this article: APH

Amphenol Corporation (NYSE-APH) reported today second quarter 2012 record diluted earnings per share of $.86 compared to $.85 per share for the comparable 2011 period. Such per share amount for the 2011 quarter includes an $18 million ($11 million after tax), or $.06 per share, gain related to the adjustment of a contingent purchase price obligation for a 2010 acquisition. Excluding this effect, diluted earnings per share was $.79 for the quarter ended June 30, 2011. Sales for the second quarter 2012 were a record $1.061 billion compared to $1.018 billion for the 2011 period. Currency translation had the effect of decreasing sales by approximately $19 million in the second quarter 2012 compared to the 2011 period.

For the six months ended June 30, 2012, diluted earnings per share were $1.63 compared to $1.57 for the 2011 period. Excluding the effect of the adjustment above, diluted earnings per share was $1.51 for the six months ended June 30, 2011. Sales for the six months ended June 30, 2012 were $2.043 billion compared to $1.958 billion for the 2011 period. Currency translation had the effect of decreasing sales by approximately $23 million for the six month 2012 period compared to the 2011 period.

Amphenol President and Chief Executive Officer, R. Adam Norwitt, stated “We are pleased to report new records of performance in the second quarter of 2012 with sales and EPS of $1.061 billion and $.86, respectively. Sales increased by approximately 4% year-over-year and 8% sequentially. On a year-over-year basis, strength in the automotive, industrial, commercial aerospace and telecommunications and data communications equipment markets offset declines in the defense and wireless markets. This is once again confirmation of the significant benefits of the Company’s diversity, especially given the uncertain environment in many of the world’s economies. In addition, it is extremely rewarding that the Company’s unique entrepreneurial culture continues to drive an unwavering focus on profitability, resulting in another sequential operating margin improvement of 50 basis points to 19.4% in Q2 2012. I am very proud of our organization as we continue to execute well.”

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