First International Bancorp Inc.
New income for First International Bancorp Inc. in Hartford, parent of First International Bank, jumped $1.3 million in the third quarter of 2000 to $1.4 million (17 cents per share on a diluted basis) compared to the same period of 1999.

During the first nine months of 2000, the compnay earned record net after tax operating income of $5.7 million (68 cents per share on a diluted basis), a 119 percent increase over the net after tax operating income of $2.6 million (46 cents per share on a diluted basis) earned through Sept. 30, 1999. This record is reported after excluding net non-recurring income of $1.8 million (22 cents per share on a diluted basis) that resulted from branch sale proceeds less several one-time expenses.

A favorable mix of loan origination product types contributed to strong third quarter 2000 performance. The percentage of total originations comprised of SBA, USDA and Export-Import Bank guaranteed loans was 64 percent during the quarter, similar to the percentages in the first and second quarters of 2000, and up from 53 percent in the third quarter of 1999. Owing to the higher profit margins, lower credit risk and attractive repayment terms of government guaranteed loans relative to other types, management has emphasized its core guaranteed lending business throughout 2000 in all of its domestic and international markets.

"We are continuing to shift the mix of loan originations toward SBA, USDA and Export-Import Bank lending in response to the needs of small and medium size companies in the industrial sector and in accordance with the risk environment," said Brett Silvers, chair and CEO. "The success of our strategy is evidenced by our third straight quarter of record operating earnings as compared to the same quarter in the previous year."

The board of directors of First International Bancorp Inc. declared a dividend of 3 cents per share to be paid Nov. 17, 2000 to stockholders of record as of Nov. 7.

The board of directors of Phoenix Investment Partners Ltd. declared a quarterly cash dividend of 8 cents per share, payable Dec. 7 to shareholders of record on Nov. 24.

As reported on Sept. 11, Phoenix Investment Partners entered into an agreement and plan of merger with Phoenix Home Life Mutual Insurance Company and PM Holdings Inc. pursuant to which Phoenix Investment Partners would become a wholly owned subsidiary of Phoenix and public shareholders of Phoenix Investment Partners Ltd. stock would receive $15.75 for each share, subject to approval by Phoenix Investment Partners company earned record net after tax operat- Ltd. shareholders.

Amphenol Corp. in Wallingford reported that sales for the third quarter of 2000 increased approximately 38 percent to $354,694 compared to sales of $256,857 for the same period in 1999. Net sales for the nine months of 2000 increased approximately 34 percent to $990,253 compared to sales of $741,459 for the same period in 1999.

Increased sales of interconnect products and cable products for communications markets was primarily responsible for the increase in sales for the third quarter and nine months of 2000. In addition, sales of interconnect products for aerospace and industrial applications increased in the third quarter and nine months of 2000 compared to the same periods in 1999. Currency translation had the effect of reducing sales by approximately $9.5 million and $22.5 million in the third quarter and nine month period of 2000, respectively, when compared to exchange rates for the comparable 1999 periods.

The gross profit margin as a percentage of net sales (including depreciation in cost of sales) increased approximately 1 percent for the third quarter and nine months 2000 compared to the 1999 periods. The increase in the gross profit margin is primarily attributable to changes in product mix and the absorption of fixed costs over higher sales volume.

Selling, general and administrative expenses as a percentage of net sales declined approximately 1 percent for the third quarter and nine months 2000 compared to the 1999 periods primarily because of absorption of fixed costs over higher sales volume.