• Most Popular
  • Most Shared

UPDATE 1-M-Flex ups Q1 sales view; to buy back 9 pct shares

Mon Jan 5, 2009 8:03am EST

Stocks

   

Jan 5 (Reuters) - Multi-Fineline Electronix Inc (MFLX.O), a maker of flexible printed circuits to the consumer electronics industry, raised its first-quarter sales outlook on strong demand for its products.

Stocks  |  Mergers & Acquisitions

M-Flex expects net sales of about $215 million and gross margin percentage of 14 to 16 percent. Analysts on average were looking for sales of $194.3 million, according to Reuters Estimates.

In November, the company forecast first-quarter sales to be at least as high as its prior year net sales levels, or at least about $184.2 million. Gross margin for the first quarter was earlier expected to be in the range of 10 to 15 percent.

M-Flex, which sees strong customer demand continuing into the second quarter, also said it would buyback about 2.3 million shares, or 9 percent of its outstanding common stock.

Shares of the company closed at $12.28 Friday on Nasdaq.

For the alerts, please double-click [ID:nWNAB6601] . (Reporting by Deepti Govind in Bangalore; Editing by Pratish Narayanan)

Stocks
Mergers & Acquisitions


More from Reuters

An image of U.S. President Barack Obama is seen in an exhibition at the Nobel Peace Centre in Oslo December 9, 2009. Two leading international human rights groups gave Obama mixed reviews on his human rights record on Wednesday, a day before he is slated to accept the 2009 Nobel Peace Prize in Oslo. Human Rights Watch and Amnesty International urged Obama to use his acceptance speech on Thursday to renew U.S. leadership on human rights after its position was undermined by abuses committed during the Bush administration's war on terrorism. REUTERS/Chris Helgren

Copenhagen: What of Obama?

President Barack Obama’s decision to attend the climate talks in Copenhagen is said to show the White House is serious about pursuing a deal to curb global warming. What should Obama commit to on climate change? Share your views.  Full Article | Related Story 

    Climate Conference
    Tom Metzold, Vice President of Eaton Vance Management and Senior Portfolio Manager at Eaton Vance, speaks at the Reuters Global Media Summit in New York, December 9, 2009. REUTERS/Brendan McDermid

    "Everything's not hunky-dory"

    Did the worst downturn in 70 years leave a permanent scar? Top money managers like Tom Metzold examine how a "new normal" will shape things to come.  Full Article 

    Investment Outlook Summit
    A crown in a file photo. REUTERS/File
    Special Report:

    No longer king of the hill

    When times were good, hedge fund managers could do what they wanted and people still lined up for a piece of the action. What will the post-crash, post-Madoff, post-Galleon hedge fund universe look like?  Full Article 

    Hedge Funds