UPDATE: Amphenol Posts Upbeat Q4 Earnings, Announces New Stock Repurchase Program

reported upbeat earnings for the fourth quarter. The Wallingford, Connecticut-based company reported quarterly earnings of $193.5 million, or $0.61 per share, compared to $167.9 million, or $0.52 per share, in the year-ago quarter. Excluding one-time items, the company earned $0.63 per share in the latest quarter. Its revenue climbed to $1.43 billion from $1.25 billion. However, analysts were estimating earnings of $0.59 per share on revenue of $1.37 billion. For the year, Amphenol posted a profit of $709.1 million, on revenue of $5.35 billion. Amphenol also announced its plans to buy back up to 10 million shares over two years. Amphenol President and Chief Executive Officer, R. Adam Norwitt, stated, “We are pleased to report new records of performance in the fourth quarter 2014, with sales and EPS of $1.427 billion and $0.63 (excluding one-time items), up 15% and 19% over the comparable 2013 quarter. The Company achieved growth in most markets with particular strength in the automotive, industrial and mobile networks markets. This growth was driven both organically and through the Company's successful acquisition program.” For the current quarter, Amphenol projects earnings of $0.55 to $0.57 per share on revenue of $1.29 billion to $1.33 billion. Analysts expected earnings of $0.57 per share on revenue of $1.35 billion. For the full year, Amphenol expects earnings of $2.41 to $2.49 per share, on revenue of $5.49 billion to $5.65 billion. Analysts projected earnings of $2.47 per share on revenue of $5.69 billion. Amphenol shares fell 0.13% to close at $52.35 yesterday.