Methode Electronics Q2 Profit Tops View; Lifts Annual EPS Outlook - Quick Facts

(RTTNews) - Component devices maker Methode Electronics, Inc. (MEI) Thursday reported second-quarter net earnings of $26.0 million or $0.66 per share, up from $19.8 million or $0.51 per share a year earlier.

Analysts polled by Thomson-Reuters expected the company to earn $0.55 per share. Analysts' estimates typically exclude one-time items.

Quarterly sales advanced 20.3 percent to $229.7 million, from $190.9 million last year, while four analysts had a consensus revenue estimate of $220.51 million.

The company raised its annual earnings guidance to a range of $2.20 to $2.30 per share from the prior guidance range for earnings of $2.10 to $2.20 per share. Analysts now expect earnings of $2.17 per share for fiscal 2015.

The company continues to expect sales of $870 million to $885 million. Analysts currently expect revenues of $884.70 million for the fiscal year.