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