2000 First Quarter Results Reported by Amphenol Corporation.Business Editors WALLINGFORD Wallingford, town (1990 pop. 40,822), New Haven co., S Conn.; inc. 1670. Its silverware industry dates from c.1835. Fruit growing and the manufacture of plastics, steel, precision instruments, and hardware are among the town's other industries. , Conn.--(BUSINESS WIRE)--April 19, 2000 Amphenol Amphenol Corporation (NYSE: APH) is a major producer of electronic and fiber optic connectors, cable and interconnect systems. Amphenol is a portmanteau from the corporation's original name, American Phenolic Corp. Corporation (NYSE-APH) reported today that first quarter 2000 fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of increased 107% to a record $.95 per share, compared to $.46 per share for the 1999 period. First quarter 2000 fully diluted earnings per share excluding non-cash amortization of goodwill was $1.11 per share compared to $.63 per share for the 1999 period. Sales for the first quarter 2000 increased 27% to a record $300,049,000 compared to $237,164,000 for the 1999 period. Currency translation had the effect of decreasing sales by approximately $6.4 million in the first quarter 2000 when compared to the 1999 period. Amphenol Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Martin H. Loeffler, stated: "The first quarter was excellent in nearly all respects. We experienced strong top line growth in all of our major market sectors and geographic regions. Sales of interconnect (1) To attach one device to another. (2) A physical port (plug, socket) or wireless port (transmitter, receiver) used to attach one device to another. products and coaxial co·ax·i·al adj. Having or mounted on a common axis. coaxial Adjective 1. Electronics (of a cable) transmitting by means of two concentric conductors separated by an insulator cable to the communication markets continued to lead sales growth especially in products for mobile handsets and wireless network infrastructure, internet equipment and upgrades and expansion of HFC 1. (networking) HFC - Hybrid Fiber Coax. 2. (hardware) HFC - hydrofluorocarbon. broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). communication networks. In addition, we experienced excellent growth in our aerospace and industrial sectors as these markets continued to strengthen. Profitability was also excellent across all of our product lines as evidenced by expanding profit margins. In addition, we are also encouraged by the very strong order intake during the quarter. This strong order intake, plus our excellent product portfolio for expanding markets and our extensive worldwide presence give us confidence in our outlook for continuing growth and profitability. In addition, in the first quarter we acquired two companies that manufacture components for mobile handsets and one company that manufactures highly engineered cable assemblies for automotive applications. These acquisitions contributed $8.0 million in sales to the first quarter. We expect that they will be accretive to year 2000 results and strategically enhance our strong market position." In March, the Company announced a 2-for-1 stock split of its common stock. The Company expects the 2-for-1 stock split to be effective on April 24, 2000. Settlement of trading in the shares at the post-split price is expected to begin on April 26, 2000. Amphenol Corporation manufactures connectors, cable and interconnect systems for electronics, cable television, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , aerospace, transportation and industrial applications. The Company's products are engineered and produced in the Americas A·mer·i·cas , the See America. , Europe and Asia and sold by a worldwide sales and marketing organization.
AMPHENOL CORPORATION
FINANCIAL SUMMARY
(Unaudited)
Three Months Ended
March 31,
2000 1999
---- ----
Sales $300,049,000 $237,164,000
Net income 20,264,000 8,239,000
Earnings per share - Basic $.98 $.46
Average shares outstanding
- Basic 20,732,878 17,862,341
Earnings per share - Diluted $.95 $.46
Average shares outstanding
- Diluted 21,290,172 18,031,325
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