Molex Posts 3Q Loss On Lower Revenue

Molex makes micro-miniature connectors, SIM card sockets, keypads and internal antennas for the telecommunications market, as well as connectors and cables which link disk drives, controllers, servers and switches. The company also makes parts used in air bags and seatbelts, digital and video cameras and DVD players. Spending on IT equipment as well as auto manufacturing has dropped off sharply amid the economic downturn.

Molex gave a broad revenue forecast — it expects sales between $525 million to $575 million for the April-June quarter. Analysts estimate sales of $537.7 million, on average.

The company said that "while orders appear to have bottomed in the March quarter, future visibility remains limited," thus the reason for the wide range.

Shares jumped $3.01, or 18.4 percent, to $19.39 in aftermarket electronic trading. The stock earlier closed the regular session up 62 cents at $16.38.