Molex Sales Up 2.1% in Third Quarter - Modern Distribution Management

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Molex Sales Up 2.1% in Third Quarter

Segment results were mixed and included double-digit increases and decreases.

Molex Inc. (NASDAQ: MOLX and MOLXA), Lisle, IL, reported sales for the third quarter of $936.4 million, an increase of 2.1 percent compared to the same period a year ago. In local currencies, sales increased 4 percent. Profit increased 17.9 percent to $84.1 million.

Year-over-year, automotive sales increased 21 percent, infotech sales decreased 1 percent, telecom sales increased 6 percent, mobile devices sales decreased 12 percent, consumer electronics sales decreased 11 percent, industrial sales increased 7 percent and medical / military sales jumped 38 percent.

“Continued improvement in our core markets drove solid sequential revenue growth during the September quarter," said CEO Martin Slark. "The automotive, telecom and mobile devices markets were very strong during the quarter.” Slark said higher revenue, favorable product mix, lower material costs, and increased equipment utilization drove margins above expectations.

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