2001 First Quarter Results Reported by Amphenol Corporation.Business Editors WALLINGFORD, Conn.--(BUSINESS WIRE)--April 18, 2001 Amphenol Corporation (NYSE-APH) reported today that first quarter 2001 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 40% to $.67 per share, compared to $.48 per share for the 2000 period. First quarter 2001 diluted earnings per share excluding non-cash amortization of goodwill was $.75 per share compared to $.55 per share for the 2000 period. Sales for the first quarter 2001 increased 6% to $316.7 million compared to $300.0 million for the 2000 period. Currency translation had the effect of decreasing sales by approximately $8.2 million in the first quarter 2001 when compared to the 2000 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: "We had an excellent quarter considering the general economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. . Sales in constant dollars were up 8% from a year ago as increased 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 for communications, aerospace, industrial and automotive applications more than offset a decline in 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 products for broadband infrastructure. Profitability was strong resulting in a 40% increase in EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. as a richer mix of higher margin application specific products and aggressive cost control actions preserved profit margins. However, the enormous growth we experienced last year in communication related products slowed substantially in the quarter. A significant customer of coaxial cable for broadband applications is purchasing at levels far below last year and, combined with a slowdown in international demand, this is significantly impacting our coaxial cable business. In addition, other major OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers that manufacture equipment for wireless infrastructure and Internet related applications are experiencing a slowdown in purchases from system operators due to a variety of factors including the availability of capital and a shortfall from expectations of demand. We are pleased that our strategy of geographic diversity, broad customer base and participation in other markets such as aerospace, industrial and automotive applications have cushioned the effects of the slowdown in communication markets, and we have been aggressive in reducing our cost structure to maintain profitability. While there are pockets of opportunity and inventories in the supply chain are being reduced, in general we are not seeing clear indications that the slowdown in communication markets is abating in the short term; however, we are continuing to develop new products and services and adjust our cost structure so as to be competitive for the available business. Furthermore, we are very confident that the long term demand for enhanced communication services and capabilities will continue to grow and that we are well positioned with products and services, geographic diversity and a broad customer base to participate in that growth." The Company will host a conference call to discuss its first quarter results at 1:00 PM (EST EST electroshock therapy. EST abbr. electroshock therapy ), April 18, 2001. The toll free dial-in number to participate in this call is 888/390-7303; International dial-in number 415/228-4730; Passcode: Jepsen and the leader is Ed Jepsen. There will be a replay available until 5:00 PM EST on Friday, April 20, 2001. The replay toll free dial-in number is 888/566-0695; International dial-in replay number is 402/998-0830. Amphenol Corporation is one of the world's leading producers of electronic and fiber optic connectors, cable and interconnect systems. Amphenol products are engineered and manufactured in the Americas, Europe and Asia and sold by a worldwide sales and marketing organization. The primary end markets for the Company's products are communication systems for the converging con·verge v. con·verged, con·verg·ing, con·verg·es v.intr. 1. a. To tend toward or approach an intersecting point: lines that converge. b. technologies of voice, video and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. , including wired and wireless internet and broadband networks  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. , and industrial, automotive and aerospace applications. Statements in this press release which are other than historical facts are intended to be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Securities Exchange Act of 1934, the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and other related laws. While the Company believes such statements are reasonable, the actual results and effects could differ materially from those currently anticipated. Please refer to Part I, Item 1 of the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000, for some factors that could cause the actual results to differ from estimates. In providing forward-looking statements, the Company is not undertaking any duty or obligation to publicly update these statements as a result of new information, future events or otherwise.
AMPHENOL CORPORATION
FINANCIAL SUMMARY
(Unaudited)
Three Months Ended
March 31,
2001 2000
---- ----
Sales $316,672,000 $300,049,000
Net income 28,505,000 20,264,000
Earnings per share - Basic $.68 $.49
Average shares outstanding - Basic 41,686,908 41,465,756
Earnings per share - Diluted $.67 $.48
Average shares outstanding - Diluted 42,720,779 42,580,344
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion