ANAHEIM, CA – Multi-Fineline Electronix reported third-quarter net sales rose 4.1% from last year to $174.5 million on increased sales of flex assemblies for consumer electronics.

For the quarter ended June 30, net income increased from $8.8 million in 2008 to $11.7 million, including a one-time $2.4 million net tax credit. Gross margin was 14.3%, compared to 13.8% last year and 14.2% last quarter.

Major product launches helped to ramp production, while the gross margin remained within guidance range for the quarter. Sales consisted of primarily flex assemblies for smartphones and other portable consumer electronics.

Fourth-quarter net sales are forecast between $190 million and $205 million with a gross margin of 13.5% to 15.5%. MFLEX expects higher unit volumes as larger customers start increasing production in preparation for the holiday season.