Molex Inc. (MOLX: Quote, MOLXA) reported that its second-quarter net income was $70.4 million or $0.39 per share, up from $64.0 million, or $0.36 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share for the quarter. Analysts’ estimates typically exclude special items.
Net revenues for the quarter rose to $967.7 million from $857.6 million in the prior year quarter. Thirteen analysts had consensus revenue estimate of $948.59 million for the quarter. Orders for the latest-quarter were $919.7 million, an increase of 12.8% from the prior year quarter.For the third-quarter, the company expects earnings per share to be in the range of $0.33 to $0.37, assuming constant foreign currency rates, unchanged commodity prices and an effective tax rate in the range of 30% to 32%. Revenue is expected to be in the range of $900 million to $930 million. Analysts expect the company to report earnings of $0.38 per share on revenues of $934.98 million for the third-quarter.
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by RTT Staff Writer
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