Summary
Amphenol Corporation reported solid financial results for the second quarter and first six months of 2012, demonstrating revenue growth and profitability. Net sales increased by 4% year-over-year for both periods, driven by the Interconnect Products and Assemblies segment, which benefited from acquisitions and strong performance in industrial, aerospace, and telecommunications markets. Cable products also saw growth, primarily due to demand in broadband markets. Profitability remained robust, with gross profit margins holding steady year-over-year. While operating income saw a slight decrease in the Interconnect segment due to input cost increases, this was offset by improvements in the Cable Products segment. The company's liquidity position is strong, supported by robust operating cash flow and available credit facilities, enabling continued investment in capital expenditures, product development, and a significant increase in dividend payouts. Amphenol also continues its share repurchase program, demonstrating a commitment to returning value to shareholders.
Financial Highlights
50 data points| Revenue | $1.06B |
| Cost of Revenue | $726.95M |
| Gross Profit | $334.16M |
| SG&A Expenses | $127.98M |
| Operating Income | $206.18M |
| Interest Expense | $15.10M |
| Net Income | $140.94M |
| EPS (Basic) | $0.11 |
| EPS (Diluted) | $0.11 |
| Shares Outstanding (Basic) | 1.29B |
| Shares Outstanding (Diluted) | 1.31B |
Key Highlights
- 1Net sales grew by 4% year-over-year for both the second quarter and first six months of 2012, reaching $1,061.1 million and $2,042.7 million, respectively.
- 2The Interconnect Products and Assemblies segment, comprising approximately 93% of sales, experienced a 4% increase in net sales year-over-year for both periods, boosted by acquisitions and strong performance in key end markets.
- 3Gross profit margin remained stable at approximately 31.5% for both the second quarter and first six months of 2012.
- 4Operating cash flow significantly improved, increasing to $291.6 million for the first six months of 2012, up from $212.3 million in the prior year period, driven by better working capital management.
- 5The company increased its quarterly dividend by a substantial margin, from $0.015 to $0.105 per share, effective with the first quarter of 2012.
- 6Amphenol continued its share repurchase program, buying back approximately 3.6 million shares for $201.0 million during the first six months of 2012.
- 7Goodwill increased by $57.6 million to $1,803.7 million, primarily due to two acquisitions in the Interconnect Products and Assemblies segment during the second quarter.