CHICAGO -- Methode Electronics reported fiscal 2011 first-quarter net income increased to $4.1 million compared to breakeven in the same period a year ago.
For the period ended July 31, net sales rose 9.5% to $98.3 million. Consolidated gross margins (including other income) as a percentage of sales decreased to 19.8% from 22.6 percent a year ago, in part from lower sales to Delphi.
Methode makes connectors and flexible printed circuit boards, although it doesn't break out the segment sales.