Amphenol Inc. (APH) on Wednesday reported fourth-quarter earnings that surpassed analysts' expectations on strong sales of its electronic and fiber optic components in the mobile-devices market.
Amphenol reported fourth-quarter earnings of $338.1 million, or $1.05 an adjusted share, vs. a loss of $103.4 million, or 86 cents an adjusted share, a year earlier. Analysts surveyed by Zacks Investment Research had been expecting per share earnings of 98 cents.
Revenue for the quarter came in at $2.23 billion vs. the consensus estimate of $2.1 billion.
"These record results were supported by a strong fourth-quarter 2018, with sales well above the high end of our guidance due primarily to incremental strength in sales of products into the mobile devices market," CEO Adam Norwitt said in a statement.
Sales in the fourth quarter 2018 increased 14% from prior year, reflecting "strong organic growth across most of the company's diversified end markets, including mobile devices, military, IT and datacom, mobile networks, commercial air and broadband," Amphenol said.
Separately, the company said it now expects full-year earnings in the range of $3.88 to $3.96 a share, with revenue ranging from $8.19 billion to $8.35 billion.
"The electronics revolution continues to create exciting new growth opportunities for Amphenol across each of our diversified end markets, with customers driving their products and networks to achieve ever higher levels of performance," the company said.
Wallingford, Conn.-based Amphenol produces electronic and fiber optic connectors, cable and interconnect systems such as coaxial cables.
The stock closed Wednesday up 2.81% at $83.45.