WALLINGFORD, CT -- Amphenol today reported first quarter sales were $1.451 billion, up 9% from 2015.
Currency translation had the effect of decreasing sales by approximately $20 million in the first quarter of 2016 compared to a year ago.
Net income was down 12.9% from a year ago to $156.6 million. The results included a $30 million charge related to its acquisition of FCI Asia on Jan. 8.
Operating margins excluding one-time items were 18.6% in the quarter, and operating cash flow was $194 million.
Amphenol president and chief executive Adam Norwitt, stated, “We are very pleased to report results above the high end of our guidance despite the challenging economic environment.
The connector and printed circuit board manufacturer saw growth in mobile networks, information technology and data communications, industrial and automotive, offset in part by modest declines in mobile devices and military.
“The current global economic environment remains volatile and uncertain," Norwitt said. "We expect second quarter sales in the range of $1.495 billion to $1.535 billion, an increase over 2015 of 11% to 14%. For the full year 2016, we expect to achieve sales in the range of $6.08 billion to $6.2 billion, an increase of 9% to 11%."