Molex Swings To Profit In 2nd Quarter On Better Sales

Date : 01/26/2010 @ 7:45PM
Source : Dow Jones News
Stock : Molex Incorporated (MM) (MOLX)
Quote : 38.68  0.0 (0.00%) @ 2:05AM

Molex Swings To Profit In 2nd Quarter On Better Sales

Molex Incorporated (MM) (NASDAQ:MOLX)
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Molex Inc. (MOLX) said Tuesday afternoon that it swung to a profit for the second fiscal quarter as sales rose.

For the period ended Dec. 31, 2009, Molex reported earnings of $19.3 million, or 11 cents a share, compared with a loss of $87.2 million, or 50 cents a share, for the same period last year.

Excluding a restructuring charge, the company said it would have earned $41.4 million, or 24 cents a share, for the recent period. Revenue rose 9% to $729 million.

Analysts were expecting earnings of 22 cents a share on revenue of $709.2 million, according to consensus forecasts from Thomson Reuters.

-By Dan Gallagher, 415-439-6400; AskNewswires@dowjones.com

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