Amphenol Corporation (APH) yesterday reported sales of $716.6 million in the third quarter of 2009, down 17% from a year ago but up 5% sequentially, which surpassed management’s guidance range of $670 million – $685 million. The sequential growth in revenues was attributed to solid demand in the information technology and data communications equipment, mobile devices and automotive market. However, the unfavorable movement in exchange rates negatively impacted the top-line by 1% or $9.9 million in the reported quarter. Operating margin improved to 17.3% from 16.9% in the previous quarter and 19.8% in the year-ago quarter. The sequential improvement was due to cost reduction actions undertaken by the management. Management is taking steps to improve operating performance amidst challenging economic conditions. The company has reduced its headcount by about 6000 or approximately 17% of its workforce. On the cost front, while productivity improvements and ...

For Immediate Release

Chicago, IL - April 3, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The Dow Chemical Co. (DOW), Hana Bioscience (HNAB), Advanced Micro Devices, Inc. (AMD), Intel Corp. (INTC) and Amphenol Corp. (APH).

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Here are highlights from Thursday's Analyst Blog:

DOW Reels In Rohm & Haas Deal

The Dow Chemical Co. (DOW) announced that it completed the acquisition of Rohm and Haas.

Synergies are targeted to be $1.3 billion. Dow has decided to exercise its option to have the

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Amphenol Corp. (APH, Buy) designs and manufactures connectors and interconnecting systems that are used primarily to conduct electrical and optical signals for a wide range of sophisticated electronic applications.We had recently increased our target price on the stock from $29 to $30, based on comparative valuation (P/E of 15.8x our FY2009 estimates, compared to the historical average of around 17X). Buoyed by the market in general, the stock has shot over our revised target price and is trading up over 9% today.Clearly the stock has discounted all the negatives associated with the anticipated weakness in the just-concluded March quarter, and is reflecting potential revenue upside in the current June quarter. Although FY2009 estimates have been revised downwards mostly, our current June quarter revenue projections assume a 3.5% revenue upside sequentially, after a projected decline of nearly 13% in the March quarter compared to the ...

Highlights include Amphenol Corp. (APH), Molex Inc. (MOLX) and Tyco Electronics Ltd. (TEL).Amphenol Corp. Surviving a Depressed EMS EnvironmentCompanies in the electronics supply chain have probably seen one of the worst 4th quarters in a long time, and it appears Q1 is not expected to fare so well. Overall, current expectations for 2009 revenues declines for companies in the Electronic Manufacturing Services (EMS) Sector is averaging in the 18%-20% range, compared to earlier projected declines of 12%-14%.Amphenol Corp. (APH, Buy), a manufacturer of connectors and interconnecting systems that are used primarily to conduct electrical and optical signals for a wide range of sophisticated electronic applications, is not an exception. However, we think that the company has fared better than its peers in 2008, mainly due to the company's strong military/aerospace exposure, market share gains, strong acquisition capabilities and cost ...