Amphenol Reports Lower 1Q Profit

WALLINGFORD, Conn. (AP) — Amphenol Corp., which makes electronic and fiber optic connectors, said Thursday its first-quarter profit fell 22 percent as the global economic downturn weighed down sales.

Net income dropped to $77.1 million, or 43 cents per share, for the three months ended March 31. That compares with $99.1 million, or 54 cents per share, during the year-earlier period.

Sales dropped 14 percent to $660 million from $770.7 million a year earlier. Currency exchange fluctuations lowered sales by about 3 percent, or $23.1 million, the company said. ...