Science & Technology
Science and Technology
Science and Technology
Tue, December 9, 2008
Mon, December 8, 2008 
LISLE, Ill.--([ BUSINESS WIRE ])--Molex Incorporated (NASDAQ: MOLX)(NASDAQ: MOLXA), a global electronic components company, today announced that its revenue and earnings per share for the quarter ending December 31, 2008 will be below the range of estimates provided in its outlook on October 28, 2008, and cautions investors not to rely on those prior estimates.
Demand within the Company's markets has fallen since the prior outlook was issued. As a result, December quarter revenue is now expected to be in the range of $650 million to $670 million, compared with its prior outlook of $750 to $800 million.
Management is lowering expenses, including headcount and related employee costs. These cost reductions are in addition to the previously announced expense controls and restructuring initiatives. As these actions have not been fully quantified, the Company does not believe it appropriate to provide a December quarter outlook for earnings per share at this time.
The Company will provide final results for the December quarter in its scheduled release on January 27, 2009.
Forward-Looking Statements
Statements in this release that are not historical are forward-looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those stated.Forward-looking statements are based on currently available information.These risks and uncertainties include those associated with the operation of our business, including the risk that customer demand will decrease either temporarily or permanently, whether due to the Company's actions or the demand for the Company's products, and that the Company may not be able to respond through cost reductions in a timely and effective manner; price cutting, new product introductions and other actions by our competitors; fluctuations in the costs of raw materials that the Company is not able to pass through to customers because of existing contracts or market factors; the challenges attendant to plant closings and restructurings, including the difficulty of predicting plant closing and relocation costs, the difficulty of commencing or increasing production at existing facilities, and the reactions of customers, governmental units, employees and other groups, the challenges attendant to plant construction; and the ability to realize cost savings from restructuring activities, as well as difficulty implementing the transition to a product-focused organization structure.
Other risks and uncertainties are set forth in Item 1A "Risk Factors" of the Company's Form 10-K for the year ended June 30, 2008, and Form 10-Q for the three months ended September 30, 2008 which are incorporated by reference and in reports that Molex files or furnishes with the Securities and Exchange Commission.This release speaks only as of its date and Molex disclaims any obligation to revise these forward-looking statements or to provide any updates regarding information contained in this release resulting from new information, future events or otherwise.
Molex Incorporated is a 70-year-old global manufacturer of electronic, electrical and fiber optic interconnection systems.Based in Lisle, Illinois, USA, the Company operates 45 manufacturing locations in 17 countries.The Molex website is [ www.molex.com ].
Editor's note: Molex is traded on the NASDAQ Global Select Market (MOLX and MOLXA) in the United States and on the London Stock Exchange. The Company's voting common stock (MOLX) is included in the S&P 500 Index.
