WALLINGFORD, CT -- Amphenol's second quarter sales jumped 18% from a year ago to $3.14 billion, beating previous company forecasts.
Net income rose 29% to $473 million.
"We are pleased to have closed the second quarter of 2022 with record sales, which exceeded the high end of our guidance," said R. Adam Norwitt, president and chief executive, Amphenol. "Sales increased from the prior year by a strong 18%, supported by robust growth across nearly all our end markets, as well as contributions from the company’s acquisition program which were offset by the impact of the strengthening US dollar. Despite facing continued inflationary pressures and supply chain disruptions, we realized strong profitability, with operating margin reaching 20.7%.
"We remain focused on expanding our growth opportunities through a deep commitment to developing enabling technologies for customers across our served markets, an ongoing strategy of market and geographic diversification and an active and successful acquisition program. To that end, we are excited to have closed on the acquisition of NPI Solutions in June. Based in Morgan Hill, California and with annual sales of approximately $65 million, NPI is a manufacturer of cable assemblies and value-add interconnect assemblies for industrial applications with a particular focus on semiconductor manufacturing equipment. The acquisition further strengthens our capabilities and enhances our product offerings in the industrial market, while adding another talented management team to the Amphenol family."
Amphenol guided for third quarter sales of $3.04 billion to $3.1 billion, representing 8% to 10% growth over the third quarter 2021.
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