Amphenol Lowers 2015 Guidance Citing Uncertainty In Global Markets

(RTTNews) - Amphenol Corp. (APH) reported improved third-quarter profit as its sales were up 7% in US dollars and 11% in local currencies over the prior year, with robust growth in the Mobile Devices and Automotive markets. However, looking forward Amphenol said global markets have recently become more uncertain, as growing turbulence in certain economies has impacted global industrial demand. As a result, the company has begun to see increased levels of caution, and thereby lower demand expectations, from customers in several of its end markets.

For the full year 2015, Amphenol now expects to achieve sales in the range of $5.468 billion to $5.508 billion. The company expects EPS of $2.38 to $2.40 for the full year 2015, excluding one-time items. The prior full year 2015 guidance was $5.540 billion to $5.620 billion in sales and $2.43 to $2.47 in EPS excluding one-time items.

Amphenol expects fourth quarter sales in the range of $1.330 billion to $1.370 billion and EPS (excluding one-time items) in the range of $0.58 to $0.60.

For the third-quarter 2015, net income attributable to Amphenol increased to $204.5 million or $0.65 per share from $182.2 million or $0.57 per share, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.46 billion compared to $1.36 billion, a year ago. Analysts expected revenue of $1.46 billion, for the quarter.