Amphenol plant in N.Y. severely damaged by flooding

Amphenol Corporation announced July 6 that it has incurred damage at its Sidney, N.Y., manufacturing facility as a result of severe and sudden flooding in New York state during the period from June 28 to July 1. The Sidney facility primarily serves the aerospace and industrial markets. The company is currently assessing the extent of property damage at the facility and the anticipated duration of business interruption. Preliminary estimates of flood-related losses, in excess of related insurance coverage, are in the range of $15 million to $30 million, or $.11 to $.22 per share.

Because of the recent occurrence of the flooding, this estimate is preliminary and subject to change as the company is able to develop better information on the extent of the loss and its insurance coverage. The company will reflect its best estimate of this loss in the results of its second quarter which ended June 30.

Significant cleanup and restoration efforts are well under way with full support from the company’s local employees and global operations, assisted by outside experts. The company is committed to restoring full service to its customers as quickly as possible.

Based on preliminary estimates, the company believes the facility will commence partial production early next week and ramp up to substantially full production within 30 days.

Customer service and other administrative functions have already resumed activity

pursuant to emergency operating plans. The company will provide an update on the

impact of the flood, the status of its recovery activities and related loss estimate at its regularly scheduled earnings conference call on July 19.

Amphenol Corporation is one of the world’s leading producers of electronic and fiber

optic connectors, cable and interconnect systems. Amphenol products are engineered and manufactured in the Americas, Europe and Asia and sold by a worldwide sales and marketing organization. Amphenol has a diversified presence as a leader in high growth segments of the interconnect market including: Military, Commercial Aerospace, Automotive, Broadband Communication, Industrial, Information Technology and Data Communications Equipment, Mobile Devices and Wireless Infrastructure.