Molex Inc. (Lisle, IL), a global electronic components company, reported results for its fiscal second quarter and first six months ended December 31, 2002, and provided guidance for the remainder of the fiscal year ending June 30, 2003. Revenues of $454.6 million increased 9.2 percent from last-year's second quarter of $416.5 million. Revenues in local currencies increased 7.7 percent, as currency translation increased net revenues by $6.1 million, when compared to last-year's second quarter.
Net return on sales for the second quarter was 6.2 percent. Net income was $28.2 million, compared to last-year's second quarter of $4.3 million, which included a special charge. Net income of $28.2 million increased 22.0 percent, when compared to last-year's second-quarter net income of $23.1 million prior to the special charge. Earnings per share of $0.15 were in line with previous company guidance. This compares with last-year's second quarter of $0.02 after the special charge and $0.12 prior to the special charge.
Revenues for the six months ended December 31, 2002, were $923.9 million, compared with $846.9 million in the prior fiscal-year period, a 9.1-percent increase. Net income was $58.2 million, compared with last-year's $29.5 million, which included a special charge. Net income of $58.2 million increased 20.5 percent when compared with last-year's net income of $48.3 million prior to the special charge. Earnings per share were $0.30, compared with $0.15 reported for the prior fiscal year after the special charge, and $0.25 prior to the special charge. For the six-month period, currency translation increased net revenues by $18.9 million and increased net income by $0.7 million.
