The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Multi-Fineline Electronix beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Multi-Fineline Electronix reported revenue of $289.7 million. The two analysts polled by S&P Capital IQ anticipated net sales of $280.0 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $239.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.38. The two earnings estimates compiled by S&P Capital IQ predicted $0.44 per share. GAAP EPS of $0.35 for Q1 were 38% lower than the prior-year quarter's $0.56 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 8.5%, 370 basis points worse than the prior-year quarter. Operating margin was 3.6%, 290 basis points worse than the prior-year quarter. Net margin was 2.9%, 280 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $211.5 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $1.02 billion. The average EPS estimate is $1.71.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 112 members out of 132 rating the stock outperform, and 20 members rating it underperform. Among 35 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give Multi-Fineline Electronix a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Multi-Fineline Electronix is outperform, with an average price target of $29.50.
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