Methode Electronics, Inc. (MEI) Thursday said fourth-quarter profit attributable to the company surged to $3.3 million or $0.09 per share from $0.8 million or $0.02 per share in the same period last year.
Revenues totaled $123.0 million, up 9.8 percent from $112.0 million last year.
Gross margins improved to 12.5 percent from 12.4 percent last year.
Looking ahead to the fiscal year 2013, the company currently expects earnings in the low-end of the previous guidance range of $0.45 to $0.60 per share. Revenues are projected in the high-end of the range $470 million to $500 million.
Analysts, based on consensus, currently expect the company to report full-year earnings of $0.43 per share on revenues of $475.47 million.
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