Amphenol Corp (APH) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Exhibit 99.1

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World Headquarters

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358 Hall Avenue

Wallingford, CT 06492

Telephone (203) 265-8900

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AMPHENOL REPORTS FIRST QUARTER 2021 RESULTS

AND ANNOUNCES NEW STOCK REPURCHASE PROGRAM

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First Quarter 2021 Highlights:

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Wallingford, Connecticut, April 28, 2021. Amphenol Corporation (NYSE: APH) today reported first quarter 2021 results and announced a new three-year, $2 billion stock repurchase program.

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“I am very proud that our team drove results that significantly exceeded our expectations in the first quarter 2021, while still prioritizing the safety and health of our employees worldwide amidst the ongoing COVID-19 pandemic,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt.

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“We are pleased to have closed the first quarter with sales and Adjusted Diluted EPS exceeding the high end of our guidance. Sales increased by a strong 28% in the quarter, with growth in nearly all markets, driven in particular by the automotive, mobile devices, industrial and IT datacom markets.”

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“Amphenol continued to deploy its financial strength in a variety of ways to increase shareholder value in the first quarter. To that end, the Company purchased 2.4 million shares of its common stock for $153 million, bringing total share repurchases under the 2018 stock repurchase program to 40.3 million shares, or $1.95 billion. The Company also paid dividends of $87 million, resulting in total capital returned to shareholders during the first quarter of $240 million.”

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“We remain focused on expanding our 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, and as previously announced on April 7, 2021, we are excited to have closed the acquisition of MTS Systems Corporation (“MTS”), and look forward to closing the sale of the MTS Test & Simulation business to Illinois Tool Works Inc. (NYSE: ITW) following the receipt of all required regulatory approvals and satisfaction of other customary closing conditions.”

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“In addition to the MTS acquisition, we are excited to have closed two new acquisitions since January, Euromicron and Cabelcon. In February, we closed on the acquisition of Euromicron Werkzeuge GmbH and its sister company LWL-Sachsenkabel GmbH (collectively, “Euromicron”) from the Gustav Zech Foundation. Based in Germany and with annual sales of approximately $25 million, Euromicron is a manufacturer of highly engineered fiber optic interconnect solutions for the mobile networks and IT datacom markets. In March, we closed on the acquisition of the Cabelcon business of Corning Incorporated (NYSE: GLW). Based in Denmark with annual sales of approximately $25 million, Cabelcon is a designer and manufacturer of high-technology connectors and interconnect assemblies primarily for the broadband market. The five acquisitions we have completed so far this year strengthen the Company’s global capabilities and enhance our product offerings, while adding talented management teams to the Amphenol family. With our long-term, successful acquisition program, we look forward to creating more value in the future by bringing additional outstanding businesses into Amphenol.”

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New Stock Repurchase Program

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During April 2021, the Company purchased the remaining authorized amount of common stock under its existing three-year, $2 billion stock repurchase plan. As a result, on April 27, 2021, the Company’s Board of Directors approved a new three-year, $2 billion open market stock repurchase plan.

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