Amphenol (NYSE:APH) saw its profit fall in the most recent quarter.
Earnings and Revenue The company posted revenues above analyst predictions, though the company's EPS came up short of expectations. The company reported adjusted net income of 79 cents a share versus the 84 cents a share estimate and revenues of $1.06 billion versus the $1.05 billion estimate. The company's reported EPS came in below the low estimate of 10 analysts of a profit of 82 cents.
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The company's net income for the quarter was $140.9 million. This is a 4.6% decline from last year. Revenue climbed 4.3% from $1.02 billion in the same period last year.
Company Fundamental Trends The company has now reported lower net income at least in each of the last four quarters. Revenue rose for a second quarter in a row as The company's sales grew 4.4% to $981.6 million in the first quarter as well.
History Against Expectations The company missed forecasts after topping estimates in the previous two quarters. In the first quarter, it topped the mark by one cent, and in the fourth quarter of the last fiscal year, it was ahead by 3 cents.
Official Comment: Amphenol President and Chief Executive Officer, R. Adam Norwitt, stated "We are pleased to report new records of performance in the second quarter of 2012 with sales and EPS of $1.061 billion and $.86, respectively. Sales increased by approximately 4% year-over-year and 8% sequentially. On a year-over-year basis, strength in the automotive, industrial, commercial aerospace and telecommunications and data communications equipment markets offset declines in the defense and wireless markets. This is once again confirmation of the significant benefits of the Company's diversity, especially given the uncertain environment in many of the world's economies. In addition, it is extremely rewarding that the Company's unique entrepreneurial culture continues to drive an unwavering focus on profitability, resulting in another sequential operating margin improvement of 50 basis points to 19.4% in Q2 2012. I am very proud of our organization as we continue to execute well."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.
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