A M P H E N O L C O R P O R A T I O N 2 0 0 4 A N N U A L R E P O R T  PART I  Item 1. Business  General  Amphenol Corporation ("Amphenol" or the "Company") is one of the world's largest designers, manufacturers and  marketers of electrical, electronic and fiber optic connectors, interconnect systems and coaxial and flat-ribbon cable. The Company  was incorporated in 1987. Certain predecessor businesses, which now constitute part of the Company, have been in business since  1932. The primary end markets for the Company's products are: The Company's strategy is to provide its customers with comprehensive design capabilities, a broad selection of products  and a high level of service on a worldwide basis while maintaining continuing programs of productivity improvement and cost  control. For 2004, the Company reported net sales, operating income and net income of $1,530.4 million, $276.6 million and  $163.3 million, respectively. The table below summarizes information regarding the Company's primary markets and end  applications for the Company's products: • communication systems for the converging technologies of voice, video and data communications; • a broad range of industrial applications including factory automation and motion control systems, medical and industrial  instrumentation, mass transportation and natural resource exploration, and automotive applications; and • commercial and military aerospace applications. Communications  Industrial/Automotive  Commercial and Military Aerospace  Percentage of Sales  50%  26%  24%  Primary End Applications  Voice  •wireless handsets and personal  communication devices  •base stations and other wireless  and telecommunications  infrastructure  •broadband  Video  •broadband cable television  networks and set top converters  Factory automation  Instrumentation and medical systems  Automobile safety   systems and other   on board electronics  Mass transportation  Oil exploration  Off-road construction  Military and Commercial  Aircraft  •avionics  •engine controls  •flight controls  •passenger related systems  Missile systems  Battlefield  communications  Satellite and space  programs  Data •cable modems •servers and storage systems  •computers, personal computers and related peripherals  •data networking equipment  15