Amphenol Corp., a Wallingford maker of electronic and fiber optic connectors, reported a drop in third-quarter profit that was still better than Wall Street expected due partly to lower expenses, according to Reuters.
Amphenol also forecast fourth-quarter revenue above market expectations.
For the third quarter, the company earned $83.4 million, or 47 cents a share, compared with $116.5 million, or 63 cents a share, a year ago, Reuters reported.
Revenue for the company, which competes with electronic components-maker Molex Inc., fell 17 percent to $716.6 million.
Analysts on average were expecting earnings of 43 cents a share on revenue of $688.7 million, according to Thomson Reuters I/B/E/S.
Selling, general and administrative expenses fell 9 percent to $100.1 million in the quarter.
Amphenol, whose products are used in the military, commercial aerospace and automotive markets, sees fourth-quarter earnings of 47 cents to 49 cents a share, on revenue of $720 million to $735 million.
Analysts were expecting earnings of 47 cents a share on revenue of $711.6 million.
