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Despite threats of a recession and supply chain challenges, Wallingford-based Amphenol Corp. reported record sales in the second quarter and a significant increase in profitability.
The maker of cable, connector, and senor technology said it earned $3.14 billion in second-quarter revenue, up 18% from a year ago.
Its profits for the quarter totaled $472.5 million, or 76 cents per share, vs. $369.8 million, or 61 cents per share, in the year-ago period.
Amphenol President and CEO R. Adam Norwitt said the sales increase was driven by growth across nearly all the company’s end markets, as well as recent acquisitions.
He noted that the strengthening U.S. dollar, inflationary pressures and supply chain disruptions posed headwinds in the quarter.
Amphenol has been a busy acquirer in recent years. In 2021 it acquired: Positronic, a Springfield, Mo.-based manufacturer of electronic connector products; MTS Systems Corp., a Minnesota company that makes testing and simulation hardware; and California-based Halo Technology Limited, which makes fiber-optic interconnect components.
Amphenol is one of the world’s largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products and coaxial and high-speed specialty cable.
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