Multi-Fineline Electronix Earnings: Here’s Why Investors Like These Results
Multi-Fineline Electronix Inc. (NASDAQ:MFLX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.60%.
Multi-Fineline Electronix Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.77 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Decreased 19.96% to $136.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Multi-Fineline Electronix Inc. reported adjusted EPS loss of $0.77 per share. By that measure, the company missed the mean analyst estimate of $-0.55. It missed the average revenue estimate of $147.27 million.
Quoting Management: Reza Meshgin, Chief Executive Officer of MFLEX, commented “We believe our third quarter results will serve as an inflection point as we anticipate a meaningful sequential improvement in revenue in the fourth quarter with continued momentum into fiscal 2014. As a result, we expect to return to profitability in the first quarter of fiscal 2014, as well as on a full year basis in fiscal 2014. Our customer relationships are strong and we are aggressively pursuing new customer and product opportunities to diversify our revenue streams and support our longer-term growth objectives.”
Key Stats (on next page)…