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Wallingford, Conn. — Amphenol Corp. reports that fourth quarter 2003 diluted earnings per share increased 42 percent to 74 cents compared to 52 cents per share for the 2002 period.
Sales for the fourth quarter 2003 increased 28 percent to $342 million, compared to $267 million for the 2002 period. Currency translation had the effect of increasing sales by approximately $17.6 million in the fourth quarter 2003 compared to the 2002 period.
For the year ended December 31, 2003, diluted earnings per share before refinancing costs was $2.52 compared to $1.85 per share for 2002. Such per share amount for the year 2003 excludes the one-time effect of expenses relating to the early extinguishment of debt in conjunction with the refinancing of the company's debt in the second quarter 2003. Including such one-time expenses, diluted earnings per share for the year ended December 31, 2003 was $2.36. Sales for the year ended December 31, 2003 were $1.2 billion, compared to $1 billion for 2002. Currency translation had the effect of increasing sales by approximately $63.9 million for the year 2003 when compared to 2002.
The company also announced that it will effect a 2 for 1 stock split for shareholders of record as of March 17, 2004. Amphenol expects the additional shares will be distributed on or about March 29, 2004.
Amphenol Corp. is one of the world's leading producers of electronic and fiber optic connectors, cable and interconnect systems. For more information, visit www.amphenol.com.