WALLINGFORD, CT – Amphenol Corp. posted record second-quarter 2011 net sales of $1.02 billion, up nearly 15% year-over-year.
Sales growth was driven by demand for mobile devices, industrial and automotive, and offset in part by lower defense demand. Net income for the period was $149 million, up 13.7% compared to the second quarter of 2010.
Second-quarter sales for interconnect products, which includes printed circuit boards and connectors, was $943.8 million, up 15.5% year-over-year. Operating income for the segment was $203.4 million, an increase of nearly 12% over 2010’s second quarter.
Defense sales have begun the slip, the company said, offset in part by aerospace orders. "There continues to be a tremendous amount of uncertainty in [mililtary]," said Amphenol president and CEO Adam Norwitt. "Long term, we're still extremely committed to that market."
The company has begun a headcount reduction of about 4%, or 1,500 workers.
For the first half of 2011, total net sales were $1.96 billion, up 18.1% year-over-year. Net income for the first six months of the year was $277.8 million, up 20.2% compared to the same period last year.
"We continue to believe that the opportunities in our industry and the opportunities in the electronics industry are fabulous. And those are really fabulous long-term because we see that there is a real revolution of electronics being proliferated into all aspects of life," Norwitt said.
Amphenol produces electronic and fiber optic connectors, cable and interconnect systems.