Lisle-based Molex lowers outlook

Lisle-based Molex Inc., a global electronic components company, said today that it is revising and lowering its revenue and earnings per share outlook for the quarter ending Sept. 30. Molex now expects revenue in the range of $840 million to $845 million, compared with its prior outlook of $860 million to $880 million.

Revenue in the prior year period was $792.6 million. The company now expects earnings per share in the range of 25 cents to 29 cents.

The current outlook includes an estimated restructuring charge of about 6 cents, which is subject to revision prior to the scheduled earnings release on Oct. 28. The prior outlook of 35 cents to 40 cents included an estimated restructuring charge of 1 cent per share.

The increase in the estimated restructuring charge is due to the company accelerating a portion of its restructuring. Earnings per share in the prior year September quarter was 29 cents.

These changes are due to reduced demand from the telecom /data infrastructure and automotive markets. The industrial and consumer electronic markets also are below the company's original outlook as customers remain cautious in their procurement and forecasting given the significant uncertainty in the global economy.