Molex Inc. (India), an electronic components company, reported record revenue for its first fiscal quarter ended September 30, 2005. Revenue for the quarter ended September 30, 2005, was $659.8 million, an increase of three percent over the same period last fiscal year. Revenue in local currencies rose two percent, as currency translation increased net revenue by approximately $9.4 million compared with last year's first quarter. Revenue for the September quarter increased three percent sequentially from the quarter ended June 30, 2005.
Net income for the September quarter was $46.7 million, or $0.25 per share, compared with $52.5 million, or $0.28 per share, in the prior year quarter. Included in these results was a restructuring charge of $4.9 million ($3.7 million after-tax, or approximately $0.02 per share), relating to previously announced restructuring activity.
The company expects that revenue for the second fiscal quarter ending December 31, 2005, will improve sequentially to a range of $670 to $690 million. This represents an increase of three percent to six percent percent compared with last year's second fiscal quarter. The company expects that earnings per share will be in a range of $0.26 to $0.29. This forecast includes an estimated restructuring charge of $3.5 million ($2.5 million after-tax, or approximately $0.01 per share) related to the previously announced restructuring activity. The company now expects that the total pre-tax restructuring charge for fiscal 2006 will be in a range of $15 to $20 million, compared with a previous estimate of $15 to $25 million.
