( APH) reported a net income of 90 cents per share in the third
quarter of 2012 beating the Zacks Consensus Estimate by a penny.
The quarter's results were ahead of 86 cents per share reported in
the prior quarter as well as the year-ago figure of 79 cents per
Sales came in at a record $1.103 billion, up 6.7% year over year
and 3.9% sequentially, and beat management's guidance range of
$1.080 billion to $1.100 billion. The results also surpassed the
Zacks Consensus Estimate of $1.091 billion. The unfavorable foreign
currency exchange rates negatively impacted sales by approximately
$19 million in the third quarter of 2012.
On a year-over-year basis, Amphenol saw strength in industrial,
commercial aerospace and telecommunications and data communications
equipment markets. Compared with the prior quarter, mobile devices
emerged as a growth driver for the company based on the ramp up of
new mobile computing devices.
Product-wise, Interconnect products generated sales of $1,033.3
million, up 7.9% year over year. Cable products generated sales of
$70.0 million, down 7.3% year over year.
Gross margin came in at 31.2%, marginally down from 31.5% in the
previous quarter, but roughly flat on a year-over-year basis.
Operating margin improved to 19.5% from 19.4% in the previous
quarter and 18.0% in the year-ago quarter.
During the quarter, Amphenol purchased 0.5 million shares.
Amphenol ended the quarter with cash and cash equivalents of $725.5
million, up from $646.0 million at the end of the previous quarter.
Debt at the end of the quarter increased to $1,511.3 million from
$1,454.5 million at the end of the previous quarter. Earlier,
Amphenol increased the quarterly dividend to $0.105 per
Assuming stable economic conditions and current currency
exchange rates, Amphenol projects sales between $1.095 billion and
$1.115 billion in the fourth quarter of 2012. Earnings per share
(excluding one-time items) are forecasted between 88 cents and 91
For 2012, management now projects revenues between $4.241
billion and $4.261 billion compared with its earlier revenue
estimate between $4.210 billion and $4.250 billion and up 8% from
2011. Earnings per share are expected between $3.41 and $3.44
versus the previous estimate of $3.38 to $3.44 and up 12% - 13%
The ongoing revolution in electronics continues to create
opportunities for Amphenol, which competes with
). The company serves a variety of end markets and the
diversification in those markets enables it to post strong results
even amid an uncertain economic environment.
AMPHENOL CORP-A (APH): Free Stock Analysis
MOLEX INC (MOLX): Free Stock Analysis Report
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