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Cash flow from operations was $322 million in the second quarter or approximately 114% of adjusted net income.

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The company continues to be an excellent generator of cash. Orders for the quarter were $2.019 billion which was flat compared to the second quarter of '18 resulting in a book-to-bill ratio of 1:1. And adjusted diluted EPS grew 2% to $0.92 in the second quarter of 2019 from $0.90 in the second quarter of 2018.

On a GAAP basis, diluted EPS grew 2% in the second quarter to $0.93 compared to $0.91 in the second quarter of 2018. The company's GAAP effective tax rate for the second quarter of '19 includes the items just mentioned - including the items just mentioned was approximately 21.3% compared to 24.7% in the second quarter of 2018.Īdjusted net income was a strong 14% of sales in the second quarter of 2019. The adjusted effective tax rate excludes the impact of the excess tax benefit associated with stock option exercises and the tax effect of acquisition-related costs incurred in both periods. The company's adjusted effective tax rate was approximately 24.5% for the second quarter of '19 compared to 25.5% in the second quarter of '18. And as discussed in our prior earnings call, this increase is due primarily to higher average interest rates as a result of the first quarter bond issuance and higher average debt levels. Interest expense for the quarter was approximately $30 million, which compares to $26 million last year.

Through the careful fostering of this culture and the deployment of our strategies to both existing and acquired companies, our management team has achieved industry-leading operating margins and remains fully committed to driving enhanced performance in the future. This strong performance is a direct result of the strength and commitment of the company's entrepreneurial management team, which continues to foster a high performance action-oriented culture and which each individual operating unit is able to appropriately adjust to market conditions and thereby maximize both growth and profitability in the increasingly uncertain market environment. Adam will comment further on trends by market in a few minutes. The Interconnect business, which comprise 96% of our sales was up 3% in US dollars and 5% local currencies compared to last year. Our cable business, which comprised 4% of our sales was down 19% in US dollars and down 17% local currencies compared to the second quarter of last year. Sequentially sales were up 3% in US dollars and in local currency, and 1% organically.īringing down sales into our two segments. From an organic standpoint, excluding both acquisitions and currency sales, sales in the second quarter decreased 1%. Sales were up 2% in US dollars and up 4% in local currencies compared to the second quarter of 2018. The company closed the second quarter with sales of $2.015 billion and with GAAP and adjusted diluted EPS of $0.93 and $0.92 respectively. So please refer to the relevant disclosures in our press release for further information. I will provide some financial commentary on the quarter and then Adam will give an overview of the business as well as current trends, and then we will take questions.Īs a reminder, we may refer in this call to certain non-GAAP financial measures, and may make certain forward-looking statements. Our second quarter 2019 results were released this morning. We would like to welcome you to our second quarter 2019 conference call.

I'm here with, together with Adam Norwitt, our CEO. Lampo - Senior Vice President and Chief Financial Officer I would now like to introduce today's conference host Mr. Following today's presentation, there will be a formal question-and-answer session. Hello and welcome to the Second Quarter Earnings Conference Call for Amphenol Corporation.