Molex Reports Strong Third-Quarter 2004 Results

Molex Inc. (India), an electronic components company, reported results for its third fiscal quarter and first nine months ended March 31, 2004. Revenue was $569.2 million, an increase of $126 million, or 28.4 percent, over the prior year quarter. Revenue in local currencies rose 22.3 percent, as currency translation increased net revenue by $27 million over the prior year quarter.

Net income was $45.5 million for the third quarter, an increase of $20.7 million, or 83.3 percent, over the prior year quarter. Currency translation increased net income by $1.4 million. Earnings per share of $0.24 increased 84.6 percent compared with $0.13 reported for the third quarter a year ago.

Revenue for the nine months ended March 31, 2004, was $1,614.9 million compared with $1,367 million in the prior fiscal year period, an 18.1-percent increase. Net income of $118.7 million rose 43.2 percent compared with last year's net income of $83 million. Earnings per share were $0.62 compared with $0.43 reported for the prior fiscal year. For the nine-month period, currency translation increased net revenue by $65.4 million and increased net income by $2.1 million.