News
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.
Within the new facility, which spans eight floors, one floor is slated for prototype and preproduction runs.
Over the past year Valor has built up its presence in Central and South America, adding local engineering resources. According to the company, local markets show significant signs of revival, proving to be effective competitors to offshore markets.
A private equity investor is currently the leading bidder in the auction. The firm has stated its intention to operate the business with the current management team and employees.
The final purchase price is subject to other offers that might arise at the formal auction on February 6.
The sale will bring Photocircuits nearer to the completion of its reorganization under Chapter 11 of the U. S. Bankruptcy Code.
"We believe that end-markets grew at a modest pace in Q4. Handsets, mobile PCs, and consumer electronics were strong, but our checks in Taiwan did uncover a modest inventory build in PC components," Jack Romaine, an analyst with SG Cowan, wrote in a note issued today.
Aspocomp will invest 60 million euros in the the plant, India's first HDI production facility, Aspocomp said.
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