FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q

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Go back to FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q

Methode Electronics, Inc. Reports Fiscal 2017 Second-Quarter Sales And Earnings

December 8, 2016 6:45 AM EST

CHICAGO, IL -- (Marketwired) -- 12/08/16 -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, announced financial results for the second quarter and first-half of Fiscal 2017 ended October 29, 2016.

Second Quarter Fiscal 2017 Methode's second-quarter Fiscal 2017 net sales increased $0.9 million, or 0.4 percent, to $209.3 million from $208.4 million in the same quarter of Fiscal 2016. Year over year, currency rate fluctuations decreased net sales $0.7 million.

Net income increased $3.7 million to $24.9 million, or $0.66 per share, in the second quarter of Fiscal 2017 from $21.2 million, or... More