WALLINGFORD, CT – Amphenol Corp. reported fourth-quarter 2005 net income of about $200 million while sales rose 26% to $508.1 million.
For the year ended Dec. 31, the company reported sales of $1.81 billion, up
18.3% over a year ago and a new company high.
Fourth quarter results include sales by the former Teradyne Connection Systems of $35 million in December.
Interconnect products – 89% of the company’s overall sales – was up 27% “with excellent profitability,” said Amphenol chairman and CEO Martin H. Loeffler.
The company said growth was broad-based and included all major geographic regions. Growth was especially strong in the mobile device market. Cable products was up 14% over the prior year.
Operating income margin in the quarter was 18.5%, down from 18.8% last year. Excluding the impact of TCS, which in December had operating income margins of 7.5%, the fourth quarter margin was 19.3%. Cash flow from operations was $75 million.
The company guided for 2006 revenues of $2.25 billion to $2.3 billion. For the first quarter it forecast revenues of $535 million to $545 million. The TCS acquisition is expected to be accretive for 2006, but slightly dilutive in the first half.