Methode Electronics (MEI) Tops Q2 EPS by 1c; Sees Q3 Weakness, FY13 Results at Low-End of Range

Methode Electronics, Inc. (NYSE: MEI) reported Q2 EPS of $0.13, $0.01 better than the analyst estimate of $0.12. Revenue for the quarter came in at $129.8 million versus the consensus estimate of $122.75 million.

Methode anticipates sequentially lower sales and earnings in its Fiscal 2013 third quarter compared to the Fiscal 2013 second quarter due to weakening economic conditions in Europe and reduced sales in the Power Products segment, and therefore, expects earnings per share for the third quarter to be break even to modestly profitable. Therefore, the Company anticipates sales and earnings for Fiscal 2013 at the low end of the guidance ranges of sales of $470 million to $500 million and earnings per share in the range of $0.45 to $0.60 (exclusive of income from the legal settlement discussed above).

For earnings history and earnings-related data on Methode Electronics, Inc. (MEI) click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Reading (RDI) Tops Q2 EPS by 4c