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There’s Good Reason for Methode Electronics’ 34 Percent Gain Thursday (MEI)

Zemanta Related Posts ThumbnailMethode Electronics (NYSE: MEI) is up more than 34 percent Thursday and for good reason. The company announced earnings that included triple digit year over year gains and blew away analyst expectations!

Adjusted EPS was $0.36 compared to $0.10 in the same quarter one year earlier. Analysts were expecting $0.21. That’s a 260 percent year over year increase. Revenue was up 41 percent to $167.3 million–again, blowing out analyst consensus of $148.85 million. Margins were up 2.3 percent to 20.3 percent as a result of more streamlined manufacturing processes and favorable raw materials costs.

The company raised its full-year fiscal 2014 guidance to $670 million to $700 million with full year EPS in a range of $1.40 to $1.60. Previous guidance was $630 million to $660 million and earnings per share guidance of $0.91 to $1.11.

By most measures, that deserves a double digit percentage gain.

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[stock-tools exchange="NYSE" symbol="MEI" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

 

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