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Amphenol Corp (APH) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Amphenol Corp

CIK: 820313 Ticker: APH

Exhibit 99.1

Amphenol

News Release

World Headquarters

358 Hall Avenue

Wallingford, CT 06492

Telephone (203) 265-8900

AMPHENOL REPORTS RECORD FOURTH QUARTER 2020

RESULTS AND ANNOUNCES 2-FOR-1 STOCK SPLIT

Fourth Quarter 2020 Highlights:

Record sales of $2.426 billion, up 13% in U.S. dollars and 11% organically compared to the fourth quarter 2019
Record GAAP diluted EPS of $1.15, up 12% compared to the prior year period
Record Adjusted Diluted EPS1 of $1.13, up 15% compared to the prior year period
GAAP and Adjusted operating margin of 20.1% and 20.6%, respectively
Record operating and free cash flow of $441 million and $371 million, respectively
Closed on two acquisitions in January 2021, Positronic and El-Cab
Announced 2-for-1 stock split effective March 4, 2021

Full-year 2020 Highlights:

Record sales of $8.599 billion, up 5% in U.S. dollars and 2% organically compared to 2019
GAAP diluted EPS of $3.91, up 4% compared to the prior year
Adjusted Diluted EPS of $3.74, unchanged from 2019
GAAP and Adjusted operating margin of 19.1% and 19.2%, respectively
Record operating and free cash flow of $1.592 billion and $1.328 billion, respectively

Wallingford, Connecticut, January 27, 2021. Amphenol Corporation (NYSE: APH) today reported fourth quarter 2020 results and announced a 2-for-1 stock split.

“While the COVID-19 pandemic continued to impact our business in the fourth quarter 2020, I am very proud that our team drove results that significantly exceeded our expectations, while still prioritizing the safety and health of our employees worldwide,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt.

“We are pleased to have closed 2020 with record fourth quarter sales and Adjusted Diluted EPS exceeding the high end of our guidance. Sales increased by a strong 13% for the quarter, primarily driven by robust growth in the mobile devices, industrial and automotive markets, partially offset by declines in the commercial aerospace and mobile networks markets. For the full year 2020, sales were up 5% in U.S. dollars, resulting from strong growth in the mobile devices, IT data communications and industrial markets, partially offset by declines in the automotive, commercial air and mobile networks markets.”

“The Company continued to deploy its financial strength in a variety of ways to increase shareholder value in the fourth quarter. To that end, the Company purchased 1.5 million shares of its common stock for $182 million, bringing total share repurchases in 2020 to 6.0 million shares, or $641 million. The Company also paid dividends of $75 million, bringing total dividends paid in 2020 to $298 million, resulting in total capital returned to shareholders in 2020 of $939 million.”

“The Company remains focused on expanding its growth opportunities through a deep commitment to developing enabling technologies for customers in all markets, an ongoing strategy of market and geographic diversification and an active and successful acquisition program. To that end, we are particularly excited to have announced on December 9, 2020 a definitive agreement to acquire MTS Systems Corporation (Nasdaq: MTSC) (“MTS”), a leading global supplier of advanced test systems, motion simulators and precision sensors. Consistent with our plans to best position the MTS Test & Simulation business for future success, on January 19, 2021, we announced a definitive agreement to sell the MTS Test & Simulation business to Illinois Tool Works Inc. (NYSE: ITW) (“ITW”) following the close of the MTS acquisition. The MTS acquisition and related divestment are consistent with our strategy of continuing to expand our range of sensor and sensor-based products across a wide array of industries to further capitalize on the long-term growth potential of the electronics revolution. As previously indicated, the acquisition of MTS’s Sensors business is expected to be accretive to Amphenol’s earnings per share by approximately $0.10 in the first year after closing.”

“In addition to the MTS acquisition, we are excited to have closed two acquisitions this month, Positronic Industries Inc. (“Positronic”) and El-Cab Sp z.o.o. (“El-Cab”). Based in Missouri, Positronic designs and manufactures high-reliability harsh environment connectors for customers primarily in the military aerospace, IT data communications and industrial markets, with annual sales of approximately $80


The following information was filed by Amphenol Corp (APH) on Wednesday, January 27, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amphenol Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
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Benefit Plans And Other Postretirement Benefits
Benefit Plans And Other Postretirement Benefits (Tables)
Benefit Plans And Other Postretirement Benefits, Amount Included In Accumulated Other Comprehensive Loss Not Yet Recognized As Expense (Details)
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Benefit Plans And Other Postretirement Benefits, Net Pension Expense (Details)
Benefit Plans And Other Postretirement Benefits, Opeb Benefit Obligation And Benefit Expense (Details)
Benefit Plans And Other Postretirement Benefits, Other (Details)
Benefit Plans And Other Postretirement Benefits, Pension Plans With A Projected Benefit Obligation In Excess Of Plan Assets (Details)
Benefit Plans And Other Postretirement Benefits, Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share, Pro Forma Earnings Per Share Reconciliation (Details)
Earnings Per Share, Reconciliation (Details)
Equity
Equity (Tables)
Equity, Accumulated Other Comprehensive Income (Loss) (Details)
Equity, Dividends (Details)
Equity, Non-Vested Stock Option Activity (Details)
Equity, Option Plans (Details)
Equity, Restricted Shares (Details)
Equity, Stock Option Activity (Details)
Equity, Stock Options (Details)
Equity, Stock Repurchase (Details)
Equity, Stock-Based Compensation (Details)
Equity, Weighted Average Assumptions (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets, Amortization (Details)
Goodwill And Other Intangible Assets, Goodwill (Details)
Goodwill And Other Intangible Assets, Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes, 2017 Tax Cuts And Jobs Act (Details)
Income Taxes, Deferred Tax Assets And Liabilities (Details)
Income Taxes, Pretax Income And Provision For Income Taxes (Details)
Income Taxes, U.S. Statutory Federal Tax Rate (Details)
Income Taxes, Unrecognized Tax Benefits (Details)
Income Taxes, Valuation Allowance And Tax Carryforwards (Details)
Inventories
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Inventories (Tables)
Leases
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Leases, Operating Lease Cost (Narrative) (Details)
Leases, Operating Lease Maturity Table And Account Balances (Details)
Leases, Other Supplemental Data Related To Operating Leases (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt, Commercial Paper (Details)
Long-Term Debt, Debt Maturity (Details)
Long-Term Debt, Euro Senior Notes (Details)
Long-Term Debt, Letter Of Credit (Details)
Long-Term Debt, Other Line Of Credit Facilities (Details)
Long-Term Debt, Revolving Credit Facility (Details)
Long-Term Debt, Schedule Of Debt (Details)
Long-Term Debt, U.S. Senior Notes (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Components Of Property, Plant And Equipment, Net) (Details)
Property, Plant And Equipment, Net (Narrative) (Details)
Property, Plant And Equipment, Net (Tables)
Reportable Business Segments And International Operations
Reportable Business Segments And International Operations (Tables)
Reportable Business Segments And International Operations, Disaggregation Of Net Sales (Details)
Reportable Business Segments And International Operations, Geographic Information (Details)
Reportable Business Segments And International Operations, Other (Details)
Reportable Business Segments And International Operations, Reconciliation Of Segment Assets (Details)
Reportable Business Segments And International Operations, Reconciliation Of Segment Operating Income To Consolidated Income Before Income Taxes (Details)
Reportable Business Segments And International Operations, Segment Results (Details)
Schedule Ii - Valuation And Qualifying Accounts (Details)
Schedule Ii Valuation And Qualifying Accounts
Selected Quarterly Financial Data (Unaudited)
Selected Quarterly Financial Data (Unaudited) (Details)
Selected Quarterly Financial Data (Unaudited) (Tables)
Selected Quarterly Financial Data (Unaudited), Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies, Business (Details)
Summary Of Significant Accounting Policies, Depreciable Assets (Details)
Summary Of Significant Accounting Policies, Derivatives (Details)
Summary Of Significant Accounting Policies, Goodwill And Intangible Assets (Details)
Summary Of Significant Accounting Policies, Income Taxes (Details)
Summary Of Significant Accounting Policies, Leases (Details)
Summary Of Significant Accounting Policies, Recent Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies, Research And Development (Details)
Summary Of Significant Accounting Policies, Revenue Recognition (Details)
Ticker: APH
CIK: 820313
Form Type: 10-K Annual Report
Accession Number: 0001558370-21-000881
Submitted to the SEC: Wed Feb 10 2021 5:11:44 PM EST
Accepted by the SEC: Wed Feb 10 2021
Period: Thursday, December 31, 2020
Industry: Electronic Connectors

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