Methode shares jump on forecast

HARWOOD HEIGHTS -- Shares of Methode Electronics Inc., the maker of components for Ford Motor Co., rose the most in 22 years in New York trading after boosting its annual forecast because of rising sales in Asia and Europe. Profit in fiscal 2008, which ends in April, will increase to 80 cents to 87 cents a share on sales of as much as $515 million, Methode said Thursday. That compares with a previous estimate of as much as 75 cents and sales of as high as $475 million. Methode climbed $3.18, or 28 percent, to $14.60 on the New York Stock Exchange. Shares have climbed 35 percent this year.