AMPHENOL CORP /DE/ Quarterly Report for Q3 Ended Sep 30, 2012

Summary

Amphenol Corporation (APH) reported solid financial results for the nine months ended September 30, 2012, demonstrating revenue growth and profitability. Net sales increased by 5% year-over-year to $3.15 billion, driven primarily by the Interconnect Products and Assemblies segment which saw strong organic growth in several key markets including commercial aerospace, industrial, and telecommunications. The company successfully integrated acquisitions, contributing to this growth, while also managing currency headwinds. Profitability remained robust, with operating income for the first nine months reaching $607.1 million. While gross profit margin saw a slight decrease compared to the prior year, overall operating performance was strong, supported by effective cost management and strategic pricing. The company also highlighted its commitment to shareholder returns through an increased dividend and an active share repurchase program, reflecting confidence in its financial position and future prospects.

Key Highlights

• 1Net sales for the first nine months of 2012 increased by 5% to $3.15 billion compared to the same period in 2011.
• 2The Interconnect Products and Assemblies segment, comprising about 94% of sales, grew 5% year-over-year for the nine-month period.
• 3Operating income for the nine months ended September 30, 2012, was $607.1 million, up from $587.0 million in the prior year.
• 4Gross profit margin for the nine months was 31.4% in 2012, a slight decrease from 31.7% in 2011.
• 5The company significantly increased its quarterly dividend per share to $0.105 from $0.015, effective in Q1 2012.
• 6Amphenol repurchased approximately 4.1 million shares of its common stock for $229.4 million during the nine months ended September 30, 2012.
• 7Cash flow from operating activities increased to $467.6 million for the first nine months of 2012, up from $396.6 million in 2011.

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