Methode Electronics Q3 Loss Increases, Misses Estimates

(RTTNews) - Methode Electronics (MEI) announced Loss for its third quarter that increased from last year and missed the Street estimates.

The company's earnings totaled -$14.4 million, or -$0.41 per share. This compares with -$11.6 million, or -$0.33 per share, last year.

Excluding items, Methode Electronics reported adjusted earnings of -$7.2 million or -$0.21 per share for the period.

Analysts on average had expected the company to earn -$0.08 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 7.6% to $239.9 million from $259.5 million last year.

Methode Electronics earnings at a glance (GAAP) :

-Earnings: -$14.4 Mln. vs. -$11.6 Mln. last year. -EPS: -$0.41 vs. -$0.33 last year. -Revenue: $239.9 Mln vs. $259.5 Mln last year.

-Guidance: Next quarter revenue guidance: $240 to $255 Mln