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Multi-Fineline Electronix Strong First Quarter

Published: 24 March 2008
 by Staff
ANAHEIM, CA - Multi-Fineline Electronix (M-flex) showed strong sales in the first quarter, beating earnings estimates by near 286%.

On Feb 5, the company reported Q1 net income for $13.6 million, as compared to $3.7 million for the first quarter of 2007.

The company produces flexible printed circuits and flexible printed circuit assemblies for mobile phones, smart mobile devices, portable bar code scanners, personal digital assistants, computer and storage devices, and medical technology.

Analysts have increased estimates for both the quarter and the year. Over the last 60 days, consensus estimates have been raised by more than double for the quarter, up from 12 to 28 cents a share, and yearly estimates are up from 67 cents to $1.47 a share.

On March 12, the company named COO Reza Meshgin as its new CEO.
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