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January 25, 2019

Record sales lift Amphenol's 4Q earnings; completes $400M acquisition

Photo | Contributed Amphenol's oval contact system connector is one of many products it makes.
By Joe Cooper

Wallingford fiber-optics components manufacturer Amphenol said record sales helped the company reverse a fourth-quarter loss from a year earlier.

For three months ended Dec. 31, the producer of electronic cable and connector components on Wednesday reported net income of $338.1 million, or $1.09 a diluted share, up from a loss of $103.4 million, or 34 cents a diluted share, during the fourth quarter of 2017.

Amphenol posted sales growth across most of its business segments, including mobile devices, military, commercial air, broadband, mobile networks, and IT and datacom.

Net sales for the quarter were a record $2.2 billion, up almost 14 percent vs. $1.9 billion in 2017.

For the year, Amphenol posted a profit of $1.2 billion, or $3.85 a diluted share. Total revenue was $8.2 billion in 2018, up about 14 percent compared to $7 billion in 2017.

The company expects revenues between $1.9 billion to $1.94 billion during the first quarter of 2019 on its way to full-year earnings in the range of $8.1 billion to $8.3 billion.

"The electronics revolution continues to create exciting new growth opportunities for Amphenol across each of our diversified end markets," said Amphenol CEO R. Adam Norwitt.

In other news Wednesday, Norwitt said the company earlier this month completed its previously announced $400 million acquisition of Wisconsin-based sensor maker SSI Control Technologies from parent company SSI Technologies Inc.

SSI, which has about 900 employees and sells products to the industrial and automotive markets, records about $180 million in annual sales, Norwitt said.

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