Amphenol Corp. (NYSE:APH) shares jumped by nearly 10 percent today after the company released a better than expected forecast for 2012. The forecast came after the company posted better than expected fourth quarter results.
For the last three months of the 2011 fiscal year Amphenol Corp. reported a 13 percent drop in net income totaling $113.9 million, or 69 cents per share, down from the $131.1 million, or 74 cents, it reported during the same quarter last year. Excluding one time items the company would have seen earnings of 73 cents per share which topped analyst expectations by 3 cents per share.
Revenue during the period dropped from $949.9 million last year to $948.7 million but again beat Wall Street estimates of $932.5 million.
The company said that it expects to see first quarter earnings of 73 to 76 cents per share on revenue of $960 million to $975 million. Thats ahead of analyst expectations of 71 cents per share on revenue of $937.8 million.
For the 2012 fiscal year Amphenol Corp. estimates that earnings per share will increase by 6 to 10 percent, equating to $3.23 to $3.34 per share, on revenue of $4.05 billion to $4.15 billion, a 3 to 5 percent increase.
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