Molex gains most in six years after beating profit estimates

Shares of Molex Inc. rose the most in almost six years in Nasdaq trading Wednesday after beating analysts' profit estimates.

The Lisle-based maker of electrical components for phones and computers reported profit late Tuesday for the fiscal third quarter of 37 cents a share, excluding costs such as factory closings, beating the 35-cent estimate of analysts in a Bloomberg survey.

New customer orders reached a record, the company said in a statement.

It was the second straight quarter that Molex expanded its operating margin -- operating profit as a percentage of sales -- and the company forecast an additional increase in the current three- month period, which ends in June. Molex has recorded costs of $11.1 million this fiscal year to reorganize divisions and close plants as part of a cost-cutting plan.

Molex rose $3.77, or 15 percent, to $28.56 on the Nasdaq Stock Market, the biggest climb since July 2002. The shares have gained 4.6 percent this year.