Methode Electronics Q4 Earnings Rise - Quick Facts

(RTTNews) - Methode Electronics, Inc. (MEI), a manufacturer of components and subsystem devices, Thursday reported fourth-quarter net earnings that increased chiefly due to a surge in revenues and a higher income tax benefit.

For the three months to May 3, the company reported net earnings of $48.2 million or $1.25 per share, a rise from $10.1 million or $0.27 per share a year ago.

Earnings, excluding certain items, were $18.8 million or $0.49 per share, compared with $6.9 million or $0.18 per share a year earlier.

On average, four analysts polled by Thomson-Reuters estimated the company's earnings to be $0.53 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net sales surged 51.7 percent to $224.9 million from $148.3 million a year earlier. The company said it recorded higher sales volumes in the Automotive, Interconnect and Power Products segments.

Looking ahead, the company expects earnings of $1.85 to $2.00 per share on revenues of $835 million to $860 million for the fiscal year 2015.

Analysts are looking for annual earnings of $2.03 per share on revenues of $812.19 million.