Key Developments For Multi-Fineline Electronix, Inc.
Multi-Fineline Electronix, Inc. (MFLX.O) (Nasdaq)
Multi-Fineline Electronix, Inc. Issues Q1 2010 Revenue Outlook Above Analysts' Estimates
Multi-Fineline Electronix, Inc. announced that for the first quarter of 2010, it expects net sales to range between $225 and $240 million. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $223 million for the same period.
Multi-Fineline Electronix, Inc. Issues Q4 2009 Revenue Guidance in Line With Analysts' Estimates
Multi-Fineline Electronix, Inc. announced that for the fourth quarter of 2009,it expects net sales to range between $190-$205 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $192 million for the fourth quarter of 2009.
Multi-Fineline Electronix, Inc. Issues Q3 2009 Revenue Guidance Below Analysts' Estimates
Multi-Fineline Electronix, Inc. announced that for third quarter of 2009, it expects net sales to be in the range of $160-$180 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $191 million for the same period.
Multi-Fineline Electronix, Inc. Issues Q2 2009 Revenue Guidance Below Analysts' Estimates
Multi-Fineline Electronix, Inc. announced that for the second quarter of 2009, the Company expects net sales to range between $170-$190 million. While the second quarter 2009 net sales projections reflect expected year-over-year growth, the Company currently expects a sequential decline due in part to the economic downturn and in part due to the seasonal effect of the December holidays and the Chinese New Year in January. According to Reuters Estimates, analysts were expecting the Company to report revenue of $201 million for the second quarter of 2009.
Multi-Fineline Electronix, Inc. Announces Share Repurchase Program
Multi-Fineline Electronix, Inc. announced that its Board of Directors has approved a share repurchase program for up to 2,250,000 shares in the aggregate of the Company's common stock. This amount represents approximately 9% of the Company's common stock outstanding as of November 30, 2008, as reported on the Company's most recent Form 10-K filed with the Securities and Exchange Commission on December 9, 2008. The stock purchases may be made from time to time on the open market in compliance with applicable state and federal securities laws. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability. Repurchases of common stock will be made under Rule 10b5-1 plans, which permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The program does not require the purchase of any minimum number of shares and may be suspended, modified or discontinued at any time without prior notice. Later this week, the Company intends to enter into the first of these repurchase plans, covering up to 562,500 shares. The Company expects to enter into additional repurchase plans from time to time covering the balance of such shares.
