Amphenol Corporation announced unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2017. For the quarter, the company reported net sales of $1,943.90 million compared to $1,651.10 million a year ago. Operating income was $399.4 million compared to $339.1 million a year ago. Income before income taxes was $378.6 million compared to $324.2 million a year ago. Net loss attributable to the company was $103.4 million or $0.34 per basic and diluted share compared to income of $235.4 million or $0.75 per basic and diluted share a year ago. Adjusted (non-GAAP) operating income was $399.4 million compared to $339.1 million a year ago. Adjusted (non-GAAP) net income attributable to the company was $274.3 million or $0.86 per diluted share compared to $235.4 million or $0.75 per diluted share a year ago. EBITDA was approximately $469 million.

For the twelve months, the company reported net sales of $7,011.30 million compared to $6,286.40 million a year ago. Operating income was $1,427.60 million compared to $1,205.20 million a year ago. Income before income taxes was $1,352.40 million compared to $1,141.10 million a year ago. Net income attributable to the company was $650.5 million or $2.06 per diluted share compared to $822.9 million or $2.61 per diluted share a year ago. Net cash provided by operating activities was $1,144.20 million compared to $1,077.60 million a year ago. Capital expenditures were $226.6 million compared to $190.8 million a year ago. Adjusted (non-GAAP) operating income was $1,431.6 million compared to $1,241.8 million a year ago. Adjusted (non-GAAP) net income attributable to the company was $986.1 million or $3.12 per diluted share compared to $856.0 million or $2.72 per diluted share a year ago. Net debt was approximately $1.8 billion as of December 31, 2017. EBITDA was $1.7 billion.

The company provided earnings guidance for the first quarter and full year of 2018. The company expects first quarter 2018 sales in the range of $1.780 billion to $1.820 billion and diluted EPS in the range of $0.78 to $0.80.

For the full year 2018, the company expects to achieve sales in the range of $7.440 billion to $7.600 billion, an increase over 2017 of 6% to 8%. The company also expects diluted EPS in the range of $3.39 to $3.47, an increase of 9% to 11% compared to 2017 adjusted diluted EPS. The company currently expects an estimated benefit of at least 100 basis points on its effective tax rate going forward. Accordingly, its full year 2018 guidance reflects this approximate benefit of the Tax Act compared to the adjusted effective tax rate in 2017 of approximately 26.5%.