Reuters: Global Markets: Amphenol raises full-year forecast; shares up

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Amphenol raises full-year forecast; shares up Jul 18th 2012, 12:59 Wed Jul 18, 2012 8:59am EDT (Reuters) - Electronic connector maker Amphenol Corp (APH.N) reported a quarterly profit that beat analysts' expectations and raised its full-year forecast for the second time, citing strong demand. Amphenol, which makes interconnect products used in IT, military, aerospace and telecommunications, said a surge in high technology applications across its markets is expected to boost demand. The company raised its per-share earnings forecast for the year to between $3.38 and $3.44 from the earlier $3.30 to $3.38 per share. It expects full-year revenue of $4.21 billion to $4.25 billion, up from its prior forecast of $4.11 billion to $4.19 billion. For the second quarter, the company reported earnings of $140.9 million, or 86 cents per share, compared with $147.8 million, or 85 cents per share, a year ago. Revenue rose 4 percent to $1.06 billion. Analysts on average were expecting earnings of 84 cents per share on revenue of $1.05 billion, according to Thomson Reuters I/B/E/S. The company's shares closed at $51.36 on Tuesday on the New York Stock Exchange. They rose 3 percent to $53.00 in trading before the bell on Wednesday. (Reporting by Bijoy Koyitty in Bangalore; Editing by Sreejiraj Eluvangal) Link this Share this Digg this Email Reprints

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