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Amphenol's Profit, Sales Drop Q2

Published: 16 July 2009
 by Staff
WALLINGFORD, CT – Amphenol Corp. reported second-quarter sales slipped 19% from last year to $685.2 million.
 
For the quarter ended June 30, profit dropped nearly 32% to $76.8 million, compared to $112.4 million last year.
While customer demand remained low in the second quarter, the company did see sales increase sequentially in most markets. Automotive, mobile device, military/aerospace and broadband markets saw the highest growth.

The electrical and electronic components maker reported first-half profit was down 27% to $153.9 million. Year-to-date sales fell from $1.62 billion to $1.35 billion. The company reports currency translation decreased sales by nearly $46 million. 
 
R. Adam Norwitt, president and CEO, believes demand has stabilized in most markets. Revenues for the third quarter are forecast between $670 million and $685 million.
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