January 24, 2018

Amphenol's 4Q net swings to red

PHOTO | Contributed
PHOTO | Contributed
Amphenol's oval contact system connector is one of many products it makes.

Amphenol Corp. posted a fourth-quarter loss despite record sales for the Wallingford maker's electronic cabling and connector products.

For three months ended Dec. 31, Amphenol said Wednesday it lost, after tax-related earnings adjustments, $103.4 million, or 19 cents a diluted share vs. net income of $235.4 million, or 16 cents a diluted, the same quarter a year earlier.

Fourth-quarter sales were a record $ $1.9 billion vs. $1.7 billion in 2016.

For the full year, Amphenol netted $650.5 million, or $2.06 a diluted share, down from $822.9 million, or $2.61 a diluted share, netted in 2016.

2017 sales were a record $7 billion vs. $6.3 billion in 2016.

For 2018, Amphenol expects sales to range from $7.44 billion to $7.6 billion, a 6 percent to 8 percent rise from 2017. Diluted earnings per share are projected at $3.39 to $3.47, a 9 percent to 11 percent jump from last year.

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