Amphenol Corp. is preparing to buy back more of its stock after the Wallingford maker of electronic cabling and connectors pulled off milestone fourth-quarter and 2012 sales and profits.
For three months ended Dec. 31, Amphenol said it netted $140.4 million, or 86 cents a diluted share, up from $113.9 million, or 69 cents a share, netted the same period a year earlier.
Fourth-quarter sales were a record $1.15 billion vs. $948.7 million last year.
For the full year, Amphenol netted $559.5 million, or $3.39 a diluted share, vs. $528.8 million, or $3.05 a share, in 2011.
Twelve-month sales hit a record $4.3 billion vs. $3.9 billion the previous year.
By quarter end, Amphenol said it closed on its purchase of the interconnect-assembly business of Israel’s Tel-Ad Electronics Ltd. for an undisclosed sum. Tel-Ad’s sales are about $60 million a year.
Meanwhile, with the final 2.5 million-share tranch of its previous stock buyback due to wrap in the first quarter, Amphenol announced the launch of a second stock repurchase plan, for up to 10 million shares over the next two years.
In early morning trading Friday, Amphenol shares were up 39 cents at $68.22.
