Plexus Corp. (PLXS) Wednesday reported a decline in profit for the second quarter, primarily affected by higher interest expenses. Both earnings and revenues came above analysts' estimates. The company also provided a guidance for the third quarter.
The Neenah, Wisconsin-based company reported a second-quarter net profit of $19.96 million or $0.56 per share, compared to $23.86 million or $0.59 per share last year. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.54 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $573.47 million from $568.15 million in the prior-year quarter. Nine analysts had a consensus revenue estimate of $567.62 million for the quarter.
Looking ahead, the company expects third-quarter net income in the range of $0.60 to $0.66 per share. Revenues for the third quarter are anticipated in the range of $590 million to $620 million. Analysts currently expect the company to earn $0.63 per share for the quarter, with revenues of $602.74 million.
by RTT Staff Writer
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