Methode Electronics, Inc. (MEI) reported that its second-quarter net income increased to $23.4 million, or $0.62 per share from $0.3 million, or $0.01 per share prior year.
Excluding the impact of the gain of $20.0 million recorded in connection with the legal settlement and its effect on income tax expense, second-quarter net income was $5.0 million, or $0.13 per share. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.12 for the quarter. Analysts' estimates typically exclude special items.
Net sales increased 12.0 percent to $129.8 million from $115.9 million last year. Analysts expected revenue of $122.75 million for the quarter.
The company anticipates sales and earnings for fiscal 2013 at the low end of the guidance ranges of sales of $470 million to $500 million and earnings per share in the range of $0.45 to $0.60.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.