Amphenol Corporation APHdelivered first-quarter 2018 adjusted earnings of 83 cents per share that beat the Zacks Consensus Estimate by 3 cents and increased 20.3% from the year-ago quarter.
Net sales increased 19.7% year over year to $1.87 billion, which comfortably surpassed the Zacks Consensus Estimate of $1.
Revenues were driven by strong organic growth across most of Amphenol’s end markets, in particular, mobile devices, military, industrial, automotive, and commercial air.
Interconnect Products and Assemblies (94.8% of net sales) revenues surged 20.9% from the year-ago quarter to $1.77 billion. Moreover, Cable Products and Solutions sales were $96.9 million, up 0.3% year over year.
Operating Details
Gross margin contracted 60 basis points (bps) from the year-ago quarter to 32.5%.