LISLE, IL -- Molex swung to a September-quarter loss, though sales were up 18% sequentially.
The PWB and connector maker said revenue for the September quarter was $674 million, up 18% from the June quarter. The increase in local currency was 16%. Orders for the quarter were $724.4 million, an increase of 26% sequentially. Recovery in the data, consumer electronics and telecom markets exceeded expectations.The net loss was $11.6 million, compared with a net loss of $219.7 million in the June quarter. The company took a pretax restructuring charge of $55.9 million and a tax adjustment related to stock compensation of $4.8 million during the period.
In a press release, Molex chief executive Martin P. Slark said, “We continue to see month-over-month improvements in revenue and orders in virtually all of our key markets. The increase in orders of 26% from the June quarter was the second consecutive quarter of increasing orders and gives us strong momentum going into the December quarter."