WALLINGFORD, CT -- Amphenol reported first quarter sales fell 5% year-over-year to $1.86 billion as factory shutdowns and weaker demand driven by the coronavirus took their toll.

The printed circuit board fabricator and connector maker withdrew its full-year guidance but said it expects lower sales sequentially in the second quarter. Operating income was down 15.7% to $376.2 million, and net income fell 9.9% to $269.9 million.

Currency translation had the effect of decreasing sales by approximately $19 million versus a year ago.

First orders quarter reached a higher-than-expected $2.15 billion, driven in particular by higher demand from customers supporting expanded capacity of communications networks as well as for medical equipment. Operating cash flow in the quarter was $384 million.

"The first quarter was significantly impacted by the Covid-19 pandemic," said Adam Norwitt, president and chief executive, Amphenol. "Since the shutdown of Wuhan, China, on Jan. 23, Amphenol’s entire global organization has been managing through the extreme challenges created by the outbreak. Starting in late January, our team in China successfully navigated a nearly three-week shutdown of all of their manufacturing operations, and were able to return to full production levels by the beginning of March.

"As we look ahead, the overall demand and operating environment remains highly uncertain. The full impact of the Covid-19 pandemic on our business will depend on many unpredictable future developments, including the length and severity of the crisis, potential additional government actions and the overall impact of the pandemic on the global economy, among many other factors. As a result, until conditions become more predictable, we believe it is prudent to withdraw our full-year sales and EPS guidance, and we will not be providing a specific outlook for the coming quarter. Given these dynamics, however, we expect sales and EPS in the second quarter of 2020 to be lower than the levels we achieved in the first quarter."