As reported by Hartford Business.com and Reuters, Wallingford, CT-based cabling and connector giant Amphenol Corp. says that product and market diversity, coupled with rising consumer and industrial demand for electronics products, has pushed its first quarter net income up by 31 percent. The company's stated earnings reached $128 million, or 72 cents a share, in the three months ended March 31, up from $98 million, or 56 cents a share, earned the same period in 2010.
Elsewhere on the Web today, a handy "Amphenol earnings cheat sheet" notes that the manufacturer has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has reportedly averaged growth of 25.1%, with the biggest surge coming in Q3 of FY 2010 when revenue rose 32.4% from a year earlier.
Amphenol CEO R. Adam Norwitt said that demand for cell phones and other mobile devices, plus electronic connectors used in automobiles, aircraft, and military and industrial machinery, were keys to the company's surging performance.
