said third-quarter earnings fell short of analyst expectations and dropped more than 90% from last year due to a decline in demand for its telecommunications and fiber-optic products.
The electronics component maker said it earned $4.3 million, or 2 cents a share, down from $67.8 million, or 34 cents a share, in the year-ago quarter. Wall Street analysts had been expecting 13 cents a share, according to Thomson Financial/First Call.
Revenue for the quarter dropped to $416.5 million from $629.3 million a year ago, led by a 42% revenue drop in the Americas.
Shares of Molex closed at $31.97 Thursday on the
before the earnings announcement.