Wallingford manufacturer Amphenol Corp. posted greater first-quarter sales of its electronic cabling-connector products, thanks to its latest acquisition that also contributed to lowering its net income for the period.
For three months ended March 31, Amphenol said Wednesday it netted $156.6 million, or 50 cents a diluted share, vs. $179.8 million, or 57 cents a share, netted the same quarter last year.
Amphenol’s first-quarter net reflected $30 million in costs incurred in the period associated with its January acquisition of overseas cabling-products rival FCI Asia Pte Ltd. for $1.28 billion, President and CEO R. Adam Norwitt said.
First-quarter revenue climbed to $1.45 billion vs. $1.33 billion a year ago.
FCI and other acquisitions of late contributed to the 9 percent climb in first-quarter sales, Norwitt said.
