Cable-equipment maker Amphenol Corp. reported a 42% rise in fourth-quarter earnings, citing the strong year and optimism concerning the overall economic recovery as catalysts for a planned 2-for-1 stock split.
Amphenol said the split would occur March 27 and the additional shares would be distributed March 29.
In a prepared statement, chairman and CEO Martin Loeffler said the split should further improve liquidity and trading in Amphenol stock.
For the fourth quarter, earnings rose to $32.9 million (74 cents per share) from $22.5 million (52 cents) in 2002. Sales rose 28% to $342 million.
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