Amphenol reports Q1 adjusted EPS 89c, consensus 88c
Reports Q1 revenue $1.96B, consensus $1.94B. Amphenol CEO R. Adam Norwitt, stated, "We are very pleased to close the first quarter 2019 with sales and Adjusted Diluted EPS of $1.959 billion and $0.89, respectively. Compared to the first quarter 2018, sales increased 5%, driven by growth across most of the Company's diversified end markets, including military, commercial air, IT datacom, industrial and mobile networks, as well as contributions from the Company's successful acquisition program. In addition, we continue to be proud of the Company's leading profitability, with Adjusted Operating Margins of 20.1% in the first quarter. The Company continues to expand its growth opportunities through a deep commitment to developing enabling technologies for customers in all markets, an ongoing strategy of market and geographic diversification and an active and successful acquisition program. Consistent with this strategy, in April 2019, the Company acquired Aorora Technology. Based in Huizhou, China, Aorora designs and manufactures fine pitch and input-output connectors for the automotive and IT datacom markets and is expected to generate annual sales of approximately $20M. In addition, we are very pleased that the Company completed the acquisition of Charles Industries just yesterday. Based in Schaumburg, Illinois, Charles Industries designs and manufactures fiber optic, power and other outdoor interconnect enclosures and related accessories used primarily in the mobile networks and IT datacom markets, with annual sales expected to be approximately $120M. These two excellent acquisitions strengthen the Company's global capabilities and enhance our product offerings across these important end markets."