Plexus Corp. (PLXS) Wednesday reported an increase in profit for the third quarter, primarily helped by higher revenues in the same quarter. Earnings came above analysts' estimates, while revenues met estimates. The company also provided a guidance for the fourth quarter.
The Neenah, Wisconsin-based company reported a third-quarter net income of $23.5 million or $0.66 per share, compared to $22.0 million or $0.58 per share in the comparable quarter last year. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $608.82 million from $559.18 million in the prior-year quarter, while nine analysts had a consensus revenue estimate of $608.02 million for the quarter.
Looking ahead, the company expects fourth-quarter net income in the range of $0.60 to $0.66 per share. Revenues for the fourth quarter are anticipated in the range of $590 million to $620 million. Analysts currently expect the company to earn $0.66 per share for the quarter, with revenues of $624.88 million.
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