WALLINGFORD, CT – Amphenol reported fourth quarter sales were $2.15 billion, down 3.3% year-over-year. Currency translation decreased sales approximately $14 million in the fourth quarter compared to the 2018 period.
For the year ended Dec. 31, sales were a record $8.23 billion, up 0.3% compared to 2018. Currency translation decreased sales approximately $126 million in 2019 compared to 2018.
"We are very pleased to close 2019 with both fourth quarter sales and adjusted diluted EPS exceeding the high end of our guidance, reaching $2.15 billion and $0.98, respectively,” said president and CEO R. Adam Norwitt. “Compared to the fourth quarter 2018, sales decreased 3% as a result of moderations in the communications-related markets, particularly the mobile devices and mobile networks markets, which were offset in part by strong growth in the military and commercial air markets, together with contributions from the company’s acquisition program. For the full year 2019, sales were up slightly in US dollars, driven by strong growth in the military and commercial air markets, as well as contributions from the company’s acquisition program. This growth was largely offset by reductions in the communications-related markets, in particular the mobile devices market, together with the negative effect of currency translation.
"Operating cash flow in the fourth quarter and full year 2019 was a very strong $424 million and $1.5 billion, respectively, another confirmation of the quality of the company’s earnings.
"The electronics revolution continues to create exciting long-term growth opportunities for Amphenol across each of our diversified end markets, with customers driving their products and networks to achieve ever higher levels of performance. We believe these opportunities will drive a long-term increase in demand for our expanded range of high-technology interconnect, sensor and antenna products."