Lighter Revenue Mars Amphenol's Earnings

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On January 15, 2009, Amphenol .(APH Quote), a maker of electronics and fiber optic connectors and cables, reported that its Q4 FY08 earnings inched down marginally to $98.73 million from $99.99 million, hurt by lower revenue. However, on a per share basis earnings increased to $0.56 from $0.55 a year ago. The fourth quarter results included a $0.03 per share benefit relating to the cumulative effect of reduction in the company's effective tax rate. The latest quarterly earnings beat the most recent consensus estimate of $0.50 per share.

During Q4 FY08, Amphenol's net sales slipped 2.8% to $755.28 million form $777.27 million, hurt by unfavorable currency translation of 4.0% and decline in sales in the automotive, industrial and IT and data com equipment markets. Segment-wise, Interconnect Products revenue, accounting 91.7% of total revenue, decreased 1.9% to $692.66 million from $706.42 million in Q4 FY08. Cable Products revenue, forming 8.3% of total revenue, declined 11.6% to $62.63 million from $70.85 million a year ago. ...