TE Connectivity, an international firm based in Berwyn has reported positive sales in all regions for the first quarter of 2014, and the acquisition of the SEACON Group.

TE Connectivity is a $13 billion world leader in connectivity and designs and manufactures products at the heart of electronic connections for the world’s leading industries. These include automotive, energy and industrial, broadband communications, consumer devices, healthcare, aerospace and defense. TE Connectivity’s has nearly 90,000 employees in over 50 countries. Its quarterly financials were reported from Schaffhausen, Switzerland.

In short, net sales increased to $3.43 billion (up 6 percent); adjusted earnings per share were $0.95, up 25 percent; diluted earnings per share from continuing operations were up 32 percent; the firm returned $281 million to shareholders through share repurchases and dividends; and shareholders approved an annual dividend of $1.16 per share, representing a 16 percent increase.

“Orders and sales were up organically in all regions, driven by strong performance in most of our markets including automotive, industrial transportation, aerospace, oil and gas, industrial equipment, appliances and broadband networks,” said Tom Lynch, TE Connectivity chairman and chief executive officer.

“I continue to be pleased with our execution as we improved our adjusted operating margins to 15.5 percent, up 190 basis points over the prior year, and had another quarter of solid cash flow,” he said. “During the quarter, orders increased 4 percent, keeping us on track for continued double digit adjusted earnings growth in the second half of the year,” said Lynch. “We expect continued strength in our transportation and industrial markets in the second half.”

Lynch said the SEACON Group is a leader in providing connectivity solutions to the offshore oil and gas industry. Its acquisition is another step in the firm’s strategy to expand its leading position in connectivity solutions for harsh environment applications.

Patrick Simar, president and chairman of the SEACON board, said in a company news release the combination of the SEACON Group’s extensive range of harsh environment electrical/fiber optic capability and TE’s cable product line will create a complete solution for undersea oil and gas applications.

The full financial report is here: http://www.prnewswire.com/news-releases/te-connectivity-reports-strong-second-quarter-earnings-256323511.html