Methode Electronics (MEI) Tops Q2 EPS by 1c

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Methode Electronics, Inc. Reports Fiscal 2016 Second-Quarter Sales and Earnings

December 10, 2015 6:30 AM EST

CHICAGO, IL -- (Marketwired) -- 12/10/15 -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, announced financial results for the Fiscal 2016 second quarter ended October 31, 2015.

Second Quarter Fiscal 2016 Methode's second-quarter Fiscal 2016 net sales decreased $21.3 million, or 9.3 percent, to $208.4 million from $229.7 million in the same quarter of Fiscal 2015. Year over year, currency rate fluctuations decreased net sales $4.6 million.

Net income decreased $4.8 million to $21.2 million, or $0.54 per share, in the second quarter of Fiscal 2016 from $26.0 million, or $0.66 per share, in the... More