S&P 500 (NYSE:SPY) component Amphenol Corporation (NYSE:APH) reported higher profit for the first quarter as revenue showed growth. Amphenol Corporation designs and makes electronic and fiber optic connectors, interconnect systems and coaxial and flat-ribbon cable.
Amphenol Earnings Cheat Sheet for the First Quarter
Results: Net income for the diversified electronics company rose to $128.9 million (72 cents/share) vs. $98.4 million (56 cents/share) YoY. A rise of 31% from the year earlier quarter.
Revenue: Rose 22% to $940.6 million YoY.
Actual vs. Wall St. Expectations: APH (NYSE:APH) fell right in step with the street’s estimates or 72 cents/share.
Quoting Management: Amphenol President and Chief Executive Officer R. Adam Norwitt stated “We continue to perform well in a dynamic electronics market due to our leading technology, broad and increasing positions with our customers across all of our diverse markets, worldwide presence and lean cost structure.”
Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 25.1%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 32.4% from the year earlier quarter.
The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 49.6% and in the third quarter of the last fiscal year, the figure rose 69.6%.
Competitors to Watch: Molex Inc. (NASDAQ:MOLX), RF Industries (NASDAQ:RFIL), Thomas & Betts (NYSE:TNB), Methode (NYSE:MEI), Optical Cable (NASDAQ:OCCF), Spectrum Control (NASDAQ:SPEC), CommScope (NYSE:CTV), AVX Corp (NYSE:AVX), Belden (NYSE:BDC) and Tyco Electronics, Ltd. (NYSE:TEL).
Today’s Performance: Shares of APH are trading at $54.61 as of April 20, 2011 at 01:38 PM ET, up 5.85% from the previous closing price of $51.58.