Methode Electronics Inc. (NYSE:MEI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Methode Electronics Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 60% to $0.24 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 17.33% to $148.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Methode Electronics Inc. reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.15. It beat the average revenue estimate of $128.9 million.
Quoting Management: President and Chief Executive Officer Donald W. Duda said, “We ended Fiscal 2013 on a strong note, with fourth-quarter sales improving over 17 percent and improved gross margins in our Automotive and Power Products segments. Additionally, we are proud of our achievements in Fiscal 2013, including sales improvement of nearly 12 percent, the successful launch of the first high volume laundry platform utilizing touch technology, a significant number of automotive launches in Europe, as well as the launch of the GM center console program.”
Key Stats (on next page)…