FBR Capital Remains Bullish on Methode Electronics (MEI) Following Announcements and EPS Beat
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Methode Electronics, Inc. Reports Fiscal 2016 First-Quarter Sales and Earnings
September 3, 2015 6:30 AM EDTCHICAGO, IL -- (Marketwired) -- 09/03/15 -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, today announced financial results for the Fiscal 2016 first quarter ended August 1, 2015.
Methode's first-quarter Fiscal 2016 net sales decreased $14.8 million, or 6.8 percent, to $203.3 million from $218.1 million in the same quarter of Fiscal 2015. Year over year, currency rate fluctuations decreased net sales by $6.1 million.
Net income increased $2.1 million to $23.5 million, or $0.60 per share, in the first quarter of Fiscal 2016 from $21.4 million, or $0.55 per share, in the same period of Fiscal... More
