Methode Electronics, Inc. Reports Record Sales in Fiscal 2020 First-Quarter
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/23/2026
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- Chip stocks plunge, but bargain-hunters limit scale of tech rout
- FedEx falls 4% as FY2027 profit forecast misses expectations despite Q4 beat
- Oil prices finish 1% lower as investors focus on Hormuz flows after peace talks
- South Korea leveraged ETF crisis sparks global chip selloff
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Needham Starts NeoVolta (NEOV) at Buy
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
Methode Electronics (MEI) Tops Q1 EPS by 6c, Revenues Beat; Offers FY20 EPS/Revenue Mid-Point Guidance Above Consensus
August 29, 2019 7:05 AM EDTMethode Electronics (NYSE: MEI) reported Q1 EPS of $0.75, $0.06 better than the analyst estimate of $0.69. Revenue for the quarter came in at $270.2 million versus the consensus estimate of $269.01 million.
Year over year, Fiscal 2020 first-quarter GAAP net income benefitted from:
sales from Grakon of $54.3 million;benefit of initiatives to reduce overall costs and improve operational profitability taken in Fiscal 2019;absence of expense for initiatives to reduce overall costs and improve operational profitability taken in Fiscal 2019 of $0.8 million; andlower acquisition-related costs of $0.6 million.Year over year, Fiscal 2020 first-quarter... More
