ANAHEIM, CA – Multi-Fineline Electronix (M-Flex) expects fiscal third-quarter net sales of $181 million, up 3.7% year-over-year.

The printed circuit board fabricator expects impairment and restructuring costs and non-cash income tax expenses associated with plant closures of $3.5 million and $4 million net of taxes.

M-Flex guided for fourth-quarter net sales to increase sharply and range between $220 million and $240 million.

“Our net sales performance in the third quarter was solid due to continued strong demand for our flex assemblies for smartphones and other consumer electronic devices,” said CEO Reza Meshgin. “As anticipated, growth in the quarter was driven by several new programs with existing OEM customers. While ambitious manufacturing and quality improvement initiatives implemented over the last year have helped to improve our operational performance in the initial ramp of new programs, during the third quarter we experienced lower yields than expected mostly due to the complicated nature of one new program.

“The continued ramp of new programs is expected to support another quarter of strong net sales and drive full-year net sales growth in fiscal 2010.”