Methode Electronics (MEI) Q3 Revenue Tops Views, Updates Guidance

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Go back to Methode Electronics (MEI) Q3 Revenue Tops Views, Updates Guidance

Methode Electronics, Inc. Reports Fiscal 2018 Third-Quarter Sales and Earnings

March 1, 2018 6:30 AM EST

CHICAGO, March 01, 2018 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom-engineered and application-specific products and solutions, announced financial results for the third quarter and first nine months of Fiscal 2018 ended January 27, 2018.

Third Quarter Fiscal 2018Methode's third-quarter Fiscal 2018 net sales increased $32.4 million, or 16.6 percent, to $228.0 million from $195.6 million in the same quarter of Fiscal 2017. Year over year, currency rate fluctuations increased net sales $4.4 million.

Net income decreased $48.0 million to a loss of $24.3 million or $0.65 per share, in the third quarter of Fiscal 2018 from income of $23.7... More