Tuesday December 9, 12:24 PM
Molex Updates Outlook for December Quarter |
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Lisle, Illinois, United States, Tuesday, December 09, 2008 -- (Business Wire India) --
Molex Incorporated (NASDAQ: MOLX)(NASDAQ: MOLXA), a global electronic
components company, announced that its revenue and earnings per
share for the quarter ending December 31, 2008 will be below the range
of estimates provided in its outlook on October 28, 2008, and cautions
investors not to rely on those prior estimates.
Demand within the Company’s markets has fallen since the prior outlook
was issued. As a result, December quarter revenue is now expected to be
in the range of $650 million to $670 million, compared with its prior
outlook of $750 to $800 million.
Management is lowering expenses, including headcount and related
employee costs. These cost reductions are in addition to the previously
announced expense controls and restructuring initiatives. As these
actions have not been fully quantified, the Company does not believe it
appropriate to provide a December quarter outlook for earnings per share
at this time.
The Company will provide final results for the December quarter in its
scheduled release on January 27, 2009.
Forward-Looking Statements
Statements in this release that are not historical are
forward-looking and are subject to various risks and uncertainties that
could cause actual results to vary materially from those stated.
Forward-looking
statements are based on currently available information.
These
risks and uncertainties include those associated with the operation of
our business, including the risk that customer demand will decrease
either temporarily or permanently, whether due to the Company's actions
or the demand for the Company's products, and that the Company may not
be able to respond through cost reductions in a timely and effective
manner; price cutting, new product introductions and other actions by
our competitors; fluctuations in the costs of raw materials that the
Company is not able to pass through to customers because of existing
contracts or market factors; the challenges attendant to plant closings
and restructurings, including the difficulty of predicting plant closing
and relocation costs, the difficulty of commencing or increasing
production at existing facilities, and the reactions of customers,
governmental units, employees and other groups, the challenges attendant
to plant construction; and the ability to realize cost savings from
restructuring activities, as well as difficulty implementing the
transition to a product-focused organization structure.
Other risks and uncertainties are set forth in Item 1A “Risk Factors”
of the Company’s Form 10-K for the year ended June 30, 2008, and Form
10-Q for the three months ended September 30, 2008 which are
incorporated by reference and in reports that Molex files or furnishes
with the Securities and Exchange Commission.
This release speaks
only as of its date and Molex disclaims any obligation to revise these
forward-looking statements or to provide any updates regarding
information contained in this release resulting from new information,
future events or otherwise.
Molex Incorporated is a 70-year-old global manufacturer of
electronic, electrical and fiber optic interconnection systems.
Based
in Lisle, Illinois, USA, the Company operates 45 manufacturing locations
in 17 countries.
The Molex website is www.molex.com.
Editor’s note: Molex is traded on the NASDAQ Global Select Market
(MOLX and MOLXA) in the United States and on the London Stock Exchange.
The Company’s voting common stock (MOLX) is included in the S&P 500
Index.
Media contact details
CONTACTS :
Molex Incorporated
Neil Lefort, Senior Vice President
(630) 527-4344
CONTACTS :
Molex Incorporated
Neil Lefort, Senior Vice President
(630) 527-4344
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