Amphenol Corp. reported a sharp increase in first-quarter sales and profit following a recent $10.5 billion acquisition.
Amphenol Corp. reported a sharp increase in first-quarter sales and profit following its
recent $10.5 billion acquisition of a connectivity business from CommScope.
The Wallingford-based company makes connectors, antennas, sensors and high-speed specialty cable used in electronics and communications systems.
Sales rose 58% to $7.6 billion in the quarter. Net income totaled $933 million, or 72 cents per diluted share, up from $737.8 million, or 58 cents per share, a year earlier.
The results reflect Amphenol’s ongoing acquisition push. In January, the company closed its purchase of CommScope’s connectivity and cable solutions unit, its largest deal to date, aimed at expanding its presence in fiber optic products used in data centers and communications networks.
Amphenol reported $9.4 billion in orders during the quarter, a sign of continued demand. For the current quarter, the company expects sales of $8.1 billion to $8.2 billion and earnings of $1.14 to $1.16 per share.
