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Amphenol Q1 profit climbs 18.0% YOY

Amphenol Corp. said its normalized net income for the first quarter came to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS climbed 17.1% year over year from 50 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $184.1 million, an increase of 18.0% from $156.1 million in the year-earlier period.

The normalized profit margin increased to 11.8% from 10.8% in the year-earlier period.

Total revenue climbed 7.5% on an annual basis to $1.56 billion from $1.45 billion, and total operating expenses climbed 5.5% from the prior-year period to $1.25 billion from $1.18 billion.

Reported net income rose 43.0% on an annual basis to $224.6 million, or 71 cents per share, from $157.1 million, or 50 cents per share.