Amphenol Corp.’s product and market diversity, along with rising consumer and industrial demand for electronics, pushed the Wallingford cabling and connector maker’s first-quarter net income up 31 percent.
Amphenol earned $128 million, or 72 cents a share, in the three months ended March 31, up from $98 million, or 56 cents a share, earned the same period in 2010.
Revenues climbed 22 percent to $941 million vs. $771 million a year ago.
CEO R. Adam Norwitt said demand for cell phones and other mobile devices, plus electronic connectors used in automobiles, military and industrial machinery, and aircraft was key to its performance.
Operating margins in the quarter hit 19.8 percent, a whole percentage point better than last year. That efficiency in squeezing cash from its operations pushed cash flow to $108 million for the period, Norwitt said.
The company also issued its second-quarter guidance for revenues in the range of $985 million to $1 billion and earnings in the range of 76 cents to 78 cents a share.
For the full year 2011, it expects higher revenues of $3.96 billion to $4 billion and increased earnings between $3.05 to $3.11 a share.
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