Amphenol Q1 Profit Increases; Updates FY15 Outlook - Quick Facts

(RTTNews) - Fiber optic connectors and interconnect systems maker Amphenol Corp.'s (APH) net income attributable to the company for the first quarter 2015 increased to $179.8 million from $158.5 million in the first-quarter of 2014. Net income per share rose to $0.57 from $0.49 last year.

Earnings per share in the first-quarter of 2014 included acquisition-related expenses of $2.0 million ($1.3 million after-tax), or $0.01 per share, relating to the amortization of the value associated with acquired backlog relating to an acquisition completed by the Company in the fourth quarter of 2013. Excluding this effect, earnings per share was $0.50 for the prior year.

Sales for the first quarter of 2015 were $1.327 billion compared to $1.246 billion for the 2014 period. Currency translation had the effect of decreasing sales by approximately $50 million in the first quarter of 2015 compared to the 2014 period.

Prior period results have been restated to reflect a two-for-one stock split which was effective in October 2014.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share and revenues of $1.32 billion for the quarter. Analysts' estimates typically exclude special items.

The company expects second quarter 2015 sales in the range of $1.315 billion to $1.355 billion and earnings per share of $0.56 to $0.58. Analysts expect the company to report earnings of $0.61 per share and revenues of $1.39 billion for the second-quarter.

For the full year 2015, the company now expects to achieve sales in the range of $5.500 billion to $5.620 billion, an increase over 2014 in US dollars of 3% to 5%, in local currencies of 7% to 9% and organically (excluding the impact of currency translation and acquisitions) of 3% to 5%. This compared to organic growth of 2% to 5% reflected in its previous guidance. It expects EPS of $2.41 to $2.47, an increase of 7% to 10% over 2014, excluding one-time items. Wall Street currently is looking for fiscal year 2015 earnings of $2.47 per share on annual revenues of $5.62 billion.

The company said in January that it expected earnings per share, excluding one-time items, to be in the range of $2.41 to $2.49 for fiscal 2015.