WALLINGFORD, CT – Amphenol reported second quarter all-time high revenues of $1.67 billion, up 7.6% year-over-year.
GAAP earnings were $251.5 million, an increase of 21.8% compared to the second quarter of 2016.
The improved revenue was attributed to solid demands across automotive, military, industrial, information technology and data communications, and broadband markets, partially offset by lower demand in the mobile device market.
During the quarter, the company acquired three sensor-related businesses from Meggitt for an undisclosed amount. Amphenol also acquired Intelligente Sensorsysteme Dresden, which produces pressure, temperature and mass airflow sensors for automotive and industrial applications.
For the quarter, cash and cash equivalents were $1.32 billion. Cash flow from operations for the first half of 2017 was $518.2 million, compared to $437.8 million in the prior-year period.
Amphenol expects third quarter sales in the range of $1.7 billion to $1.74 billion. For 2017, the firm currently expects sales in the range of $6.62 billion to $6.7 billion.
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