UPDATE 2-Molex Q2 profit misses Wall Street view
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UPDATE 2-Molex Q2 profit misses Wall Street view

www.reuters.com   | 25.01.2012.

Jan 25 (Reuters) - Electronic components maker Molex Inc posted second-quarter results below Wall Street expectations, hurt by weak demand and manufacturing disruptions caused by the Thailand floods, and forecast a weak third quarter.
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* Says Thailand floods hurt results

* Q3 forecast below est

Jan 25 (Reuters) - Electronic components maker Molex Inc posted second-quarter results below Wall Street expectations, hurt by weak demand and manufacturing disruptions caused by the Thailand floods, and forecast a weak third quarter.

"The uncertain economic environment, coupled with the disruption from the floods in Thailand made the December quarter challenging from a booking and revenue perspective," Molex Chief Executive Martin Slark said in a statement.

The company, which makes more than 100,000 products, including connectors, switches and terminals, expects third-quarter profit of 32 cents to 36 cents a share on revenue of $830 million to $860 million.

Analysts were excepting earnings of 38 cents a share on revenue of $872.6 million, according to Thomson Reuters I/B/E/S.

Earlier on Wednesday, Molex's peer TE Connectivity Ltd reported a lower-than-expected quarterly profit amid weak industrial demand in Europe and Japan, and soft sales to makers of appliances and consumer electronics, and cut its full-year forecast.

In a slide presentation ahead of its conference call, Molex said order trends improved in January.

Orders for the first 22 days of the month equaled fourth-quarter 2011 levels, it said.

Molex's Oct-Dec net profit was $64 million, or 36 cents a share, down from $78.3 million, or 45 cents a share, a year ago.

Revenue fell 5 percent to $857.6 million.

Analysts expected earnings of 41 cents a share on revenue of $890.2 million.

The Thailand floods reduced Molex's second-quarter revenue by about $15 million.

Last year's flooding in Thailand, was the country's worst in decades, throwing industrial production off track as factories and industrial estates were inundated.

Shares of the company, which is a supplier to Apple Inc , closed at $27.43 on Tuesday on Nasdaq.



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