Wednesday, July 18, 2012

Amphenol Corp (NYSE: APH) Beats Analyst Expectations, Shares Up

Amphenol Corp (NYSE: APH) Beats Analyst Expectations, Shares UpPalm Beach, FL 7/18/12 (StreetBeat) – Amphenol Corp (NYSE: APH) is trading up today after its quarterly profit beat analysts’ expectations and it raised its full-year forecast for the second time. The electronic connector maker cites this optimistic forecast with a surge in high technology applications across its markets is expected to boost demand.

Amphenol has raised its per-share year earnings forecast from $3.30 to $3.38 to between $3.38 and $3.44 per share. The company projects full-year revenue of $4.21 billion to $4.25 billion, up from its prior $4.11 billion to $4.19 billion forecast.

For the 2nd quarter, APH beat analyst expectations of earnings of 84 cents per share on revenue of $1.05 billion with reporting actual earnings of $140.9 million, or 86 cents per share. Revenue rose 4% to $1.06 billion.

Amphenol’s shares are trading up $5.54 at $56.90, increasing 10.79% upon market open.

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