Molex Reports Fiscal 2012 Second Quarter Results
Jan 26, 2012
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Molex Inc., a global electronic components supplier to the appliance and other industries, reported revenue for the December 2011 quarter was $857.6 million, down 8.4% from the September 2011 quarter and 4.9% from the December 2010 quarter.
Thailand floods effects reduced revenue in the December quarter by about $15 million. Revenue in local currencies declined 7.8% from the September 2011 quarter and 6.6% from the December 2010 quarter. Net income for the December 2011 quarter was $64.0 million, down from net income of $80.5 million for the September 2011 quarter and net income of $78.3 million for the December 2010 quarter.
“We continue to be optimistic about the future as our new product pipeline is quite strong and long-term growth opportunities remain healthy,” said CEO Martin P. Slark. “The uncertain economic environment coupled with the disruption from the floods in Thailand, however, made the December quarter challenging from a booking and revenue perspective."
He said that Molex completed the purchase of Temp-Flex Cable, a specialty wire and cable company, in the December 2011 quarter, increasing the company presence in the medical market.
Based upon current order rates, backlog, and seasonality, Molex estimates revenue of $830 -$860 million for the March 2012 quarter.
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