Baird Upgrades Methode Electronics (MEI) to Outperform

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Methode Electronics, Inc. Reports Fiscal 2016 Sales and Earnings

June 23, 2016 7:00 AM EDT

CHICAGO, IL -- (Marketwired) -- 06/23/16 -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, announced financial results for Fiscal 2016 ended April 30, 2016.

Fourth Quarter Fiscal 2016 Methode's fourth-quarter Fiscal 2016 net sales decreased $14.5 million, or 6.4 percent, to $212.8 million from $227.3 million in the same quarter of Fiscal 2015. Year over year, currency rate fluctuations increased net sales $2.7 million.

Net income decreased $4.0 million to $22.6 million, or $0.60 per share, in the fourth quarter of Fiscal 2016 from $26.6 million, or $0.68 per share, in the same period of Fiscal... More