Amphenol Guides Q2 Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Amphenol Corp. (APH) provided its adjusted earnings and sales guidance for the second quarter, above analysts' expectations.

For the second quarter, the company now projects earnings and adjusted earnings from continuing operations in a range of $0.53 to $0.55 per share on sales between $2.415 billion and $2.475 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.52 per share on sales of $2.31 billion for the quarter. Analysts' estimates typically exclude special items.

"We remain focused on expanding our growth opportunities through a deep commitment to developing enabling technologies for customers in all markets, an ongoing strategy of market and geographic diversification and an active and successful acquisition program," said Amphenol President and Chief Executive Officer, Adam Norwitt.

On Tuesday, the Company's Board of Directors approved a new three-year, $2 billion open market stock repurchase plan.