Amphenol Corporation Buyback
OLI recorded this information on 1/21/2015
Share Amount Authorized:
"We close 2014 having grown 16% from 2013, with revenues of more than $5.3 billion, a new milestone for the Company. Our ongoing strategy of market and geographic diversification combined with our strong commitment to customers in all markets, both through organic product development and through our acquisition program, continues to expand the Company's growth opportunities. Consistent with this strategy, in December, the Company completed the acquisition of Goldstar Electric Systems Co., Ltd., a China-based high technology interconnect assembly company with annual sales of approximately $40 million. The acquisition significantly enhances the Company's presence in the industrial market in China, in particular in the high growth heavy equipment segment. In addition to our successful acquisition program, the Company continues to deploy its financial strength in a variety of ways to increase shareholder value, including the purchase in this quarter of 2.9 million shares of the Company's stock. The Company has now completed the buyback authorized under the Company's January 2013 stock repurchase program, and thus the Company's Board of Directors has authorized a new two year open market stock repurchase plan effective January 21, 2015 for up to 10 million shares of the Company's common stock."
Amphenol is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products and coaxial and high-speed cable. Co.'s segments are: Interconnect Products and Assemblies, which designs, manufactures and markets a range of connector and connector systems, other products, including antennas and sensors, used in a range of applications in a set of end markets; and Cable Products and Solutions, which designs, manufactures and markets cable, products and components for use primarily in the broadband communications and information technology markets as well as certain applications in other markets.
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Buy (3.20 out of 4)