Key Developments For Molex Incorporated
Molex Incorporated (MOLX.O) (Nasdaq)
Molex, Inc. Issues Q2 2010 Guidance; EPS Guidance Below Analysts' Estimates
Molex, Inc. announced that for the second quarter of 2010, it expects revenue to be in a range of $680-$720 million and earnings per share (EPS) to be in a range of $0.11-$0.15, assuming an effective tax rate of 30%. Included in these estimates is a pretax restructuring charge of approximately $19 million or $0.07 per share after-tax. According to Reuters Estimates, analysts are expecting the Company to report GAAP EPS of $0.16 on revenues of $683 million for the same period.
Molex, Inc. And Hon Hai Precision Industry Co., Ltd. Announce Litigation Settlement
Molex, Inc. and Hon Hai Precision Industry Co., Ltd. and Foxconn Electronics, Inc. announce the settlement of the litigation between them, pending in the United States District Court for the Northern District of Illinois, that included a dispute regarding the scope of a DisplayPort Standard License Agreement. Neither party has admitted any wrongdoing with respect to the claims and counterclaims asserted in the litigation. As part of the settlement, Hon Hai has been granted a separate, worldwide, royalty-bearing license giving it the right to sell non-standard connectors using the DisplayPort mating interface, and having a through-hole mounting interface. No further information is available regarding the terms of the settlement.
Molex, Inc. Raises Q1 2010 Outlook
Molex, Inc. revised its first quarter of 2010 outlook and expects revenue to be in the range of $650-$665 million, compared with the prior outlook of $590-$630 million, a GAAP basis loss per share is now expected to be in the range of $0.12-$0.08, including pretax restructuring charges of approximately $60 million or $0.24 per share after-tax. The prior outlook for earnings per share (EPS) was a range of $0.00-$0.06, including a pretax restructuring charge of approximately $10 million or $0.04 per share after-tax and non-GAAP EPS of $0.12-$0.16, compared with the prior outlook of $0.04-$0.10. According to Reuters Estimates, analysts were expecting the Company to report revenues of $616 million and non-GAAP EPS of $0.08 for the same period.
Molex, Inc. Introduces Hazardous Location Portable Flood Light
Molex, Inc. announced that it has introduced Woodhead lighting product line, the Hazardous Location Portable Flood Light, which can be used in natural gas service utility locations, refineries, shipyards, fuel oil loading docks and petrochemical plants. CSA approved and compliant to the US and Canadian standards for methane atmospheres.
Molex, Inc. Issues Q1 2010 Outlook; Revenue Outlook Above Analysts' Estimates
Molex, Inc. announced that for first quarter of 2010, it expects revenue in a range of $590-$630 million and earnings per share (EPS) in a range of $0.00-$0.06. According to Reuters Estimates, analysts were expecting the Company to report revenues of $582 million and EPS of $0.00 for the same period.
