Amphenol Corporation Provides Outlook of First Quarter Results.

Business Editors

WALLINGFORD, Conn.--(BUSINESS WIRE)--March 2, 2001

Amphenol Corporation (NYSE-APH) announced today that based on current information it expects first quarter 2001 earnings per share to be in the range of $.66 to $.68 per share, which, at the mid-point, would be a 40% increase over the $.48 per share reported for the first quarter of 2000. The Company also indicated that based on current information it expects first quarter 2001 revenues to be in the range of $315 million to $320 million compared to $300 million in first quarter 2000. Such revenue estimate reflects an adverse currency translation effect of approximately $10 million due to the comparatively strong U.S. dollar.

The Company also stated that while it is positioned for long term growth and profitability, the visibility for the full year 2001 in the current environment is not clear and the market information from customers is sometimes ambiguous and the severity and duration of a general economic slowdown is uncertain. However, based on current information, the Company believes that revenues for the year 2001 will be approximately even with the $1,360 million for the year 2000. Such estimate reflects a significant slowdown in orders of coaxial cable for broadband infrastructure applications. The slowdown in coaxial cable is being offset by increasing sales of connectors and interconnect products to communication, industrial and aerospace markets, but the rate of increase in communication markets is less than in 2000 as major telecommunications and Internet equipment manufacturers have slowed their activity reflecting a generally slower end market environment. The Company further stated that on the basis of strong profit margins and reduced interest expense from deleveraging that it expects full year 2001 earnings per share to be in the range of $2.70 to $2.90 per share compared to the $2.52 reported for the full year 2000. Such estimate excludes the effects of a proposed change by the Financial Accounting Standards Board in accounting for goodwill which, if adopted in the present form by June 30, 2001, would have the effect of increasing earnings per share by approximately $.16 per share in 2001 and $.31 per share on an annual basis.

While the economic environment is rapidly changing and uncertain, the Company is confident in its ability to maximize opportunities in its core markets due to the continuing development of new application specific products, broad customer base, and global presence in diverse markets. In addition, cost control measures are in place throughout the Company to preserve its strong profit margins and to achieve further EPS growth in 2001 following an excellent year 2000.

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 technologies of voice, video and data communications, including wired and wireless internet and broadband networks, and industrial, automotive and aerospace applications.

Statements in this press release which are other than historical facts are intended to be "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, the Private Securities Litigation Reform Act 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 for the year ended December 31, 1999, 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 update these statements publicly as a result of new information, future events or otherwise.