Wallingford electronic interconnect manufacturer Amphenol said higher than expected third-quarter sales helped drive a 14 percent hike in profits.
For the three months ended Sept. 30, the company reported net income of $316.6 million, or $1.01 per diluted share, up from $277.5 million, or 88 cents, in the third quarter of last year.
Net sales were a record $2.13 billion, up nearly 16 percent from $1.84 billion a year prior.
CEO R. Adam Norwitt said sales were “well above the high end” of the company’s guidance for the quarter and driven primarily by organic growth across most of Amphenol’s end markets, from automotive to mobile devices.
Due to the recent performance, Amphenol raised its full-year sales outlook to a range of $8.04 billion to $8.08 billion. That’s up from prior guidance of $7.82 billion to $7.9 billion. The company also increased its expected diluted earnings per share range, to between $3.68 and $3.70.
“The electronics revolution continues to create exciting, long-term growth opportunities for Amphenol,” Norwitt said in a statement.
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