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Amphenol profit misses consensus by 15.9% in Q3

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Amphenol profit misses consensus by 15.9% in Q3

Amphenol Corp. said its third-quarter normalized net income amounted to 55 cents per share, compared with the S&P Capital IQ consensus estimate of 65 cents per share.

EPS increased 12.3% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $173.4 million, an increase of 10.7% from $156.8 million in the year-earlier period.

The normalized profit margin rose to 11.9% from 11.5% in the year-earlier period.

Total revenue climbed 7.4% year over year to $1.46 billion from $1.36 billion, and total operating expenses increased 7.0% on an annual basis to $1.16 billion from $1.09 billion.

Reported net income rose 12.3% year over year to $205.3 million, or 65 cents per share, from $182.8 million, or 57 cents per share.