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July 24, 2019

Amphenol’s 2Q profits tick up on higher sales, lower taxes

Photo | Contributed Amphenol's oval contact system connector is one of many products it makes.
By Matt Pilon

Wallingford-based cable-connector maker Amphenol said its profits ticked up 1.3 percent in the second quarter, driven by higher sales and lower income taxes.

Net income for the three months ended June 30 was $288.4 million, or 93 cents per diluted share, up from $284.8 million, or 91 cents, in last year’s second quarter.

Second-quarter sales revenue totaled just over $2 billion in the recent quarter, about $34 million higher than a year ago.

In a statement, Amphenol President and CEO R. Adam Norwitt credited the sales increase to recent acquisitions, as well as growth in the military, commercial air, mobile networks and mobile devices markets.

In the past few months, Amphenol has acquired four companies that are expected to collectively generate about $150 million in sales, Norwitt said. They include CONEC Elektronische Bauelemente GmbH, Kopek Industries, Bernd Richter GmbH and the GJM Group.

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