UPDATE 1-Amphenol raises full-year forecast; shares up

July 18 Wed Jul 18, 2012 8:58am EDT

July 18 (Reuters) - Electronic connector maker Amphenol Corp reported a quarterly profit that beat analysts' expectations and raised its full-year forecast for the second time, citing strong demand.

Amphenol, which makes interconnect products used in IT, military, aerospace and telecommunications, said a surge in high technology applications across its markets is expected to boost demand.

The company raised its per-share earnings forecast for the year to between $3.38 and $3.44 from the earlier $3.30 to $3.38 per share.

It expects full-year revenue of $4.21 billion to $4.25 billion, up from its prior forecast of $4.11 billion to $4.19 billion.

For the second quarter, the company reported earnings of $140.9 million, or 86 cents per share, compared with $147.8 million, or 85 cents per share, a year ago.

Revenue rose 4 percent to $1.06 billion.

Analysts on average were expecting earnings of 84 cents per share on revenue of $1.05 billion, according to Thomson Reuters I/B/E/S.

The company's shares closed at $51.36 on Tuesday on the New York Stock Exchange. They rose 3 percent to $53.00 in trading before the bell on Wednesday.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.