WALLINGFORD, CT -- Amphenol reported first quarter sales of $3.26 billion, up 9% in US dollars and 6% organically compared to the first quarter 2023.

The maker of printed circuit boards and electronic connectors said net income rose 25% to $552 million.

Consolidated operating income rose 16% to $685 million. Adjusted operating margin rose 110 basis points to 21%,

"We are pleased to have closed the first quarter of 2024 with sales and Adjusted Diluted EPS both exceeding the high end of our guidance," said Adam Norwitt, president and chief executive, Amphenol. "Sales increased from prior year by 9%, driven by growth in the IT datacom, commercial air, automotive and defense markets as well as contributions from the Company’s acquisition program, partially offset by moderations in the mobile networks, broadband and industrial markets. During the quarter, we again realized strong profitability with adjusted operating margin of 21%, a first-quarter record."

Assuming the continuation of current market conditions as well as constant exchange rates, Amphenol expects second quarter sales in the range of $3.24 billion to $3.30 billion, a 6% to 8% increase over the prior year quarter. 

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