Lighter Revenue Mars Amphenol's Earnings

Oh a per-share basis, earnings increase a cent from the previous year.
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On January 15, 2009,

Amphenol

.

(APH) - Get Report

, 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.

For FY08, APH net income grew 18.7% to $419.15 million or $2.34 per share from $353.19 million or $1.94 per share in FY07. Net sales increased 13.5% to $3.24 billion from $2.85 billion, benefiting from favorable currency exchange rate.

During the quarter under review, the company paid a quarterly cash dividend of $0.15 per share for Q4 FY08. Orders in the quarter were $708.00 million, a book-to-bill ratio of approximately 0.94 to 1.00, reflecting lower order levels in the second half of Q4 FY08 particularly in automotive- and communications-related markets. Additionally, the company completed the acquisition of a manufacturer of wireless infrastructure antenna solutions with annual sales of approximately $50.00 million.

Looking forward to Q1 FY09, APH expects its EPS to be in the range of $0.39 to $0.41 on revenue between $650.00 million to $665.00 million.

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