Methode Electronics (MEI) Tops Q3 EPS by 2c; Trims FY16 Revenue Outlook

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

March 3, 2016 6:30 AM EST

CHICAGO, IL -- (Marketwired) -- 03/03/16 -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, announced financial results for the Fiscal 2016 third quarter ended January 30, 2016.

Third Quarter Fiscal 2016 Methode's third-quarter Fiscal 2016 net sales decreased $21.4 million, or 10.4 percent, to $184.6 million from $206.0 million in the same quarter of Fiscal 2015. Year over year, currency rate fluctuations decreased net sales $2.9 million.

Net income decreased $9.9 million to $17.2 million, or $0.45 per share, in the third quarter of Fiscal 2016 from $27.1 million, or $0.68 per share, in the... More