M-Flex reports strong results for year-end and Q4
Nov 07, 2005
Q4 revenue and net income are highest in the company's 21-year history
Multi-Fineline Electronix, Inc. (Nasdaq: MFLX) reported that net sales for the fiscal year ended September 30, 2005, increased by 41 percent to $357.1 million from $253.0 million for fiscal 2004, while net income for fiscal 2005 increased 45 percent to $37.2 million, or $1.51 per diluted share, compared to $25.7 million, or $1.27 per diluted share for fiscal 2004. For fiscal 2005, gross margins were 22 percent and resulted primarily from the company's ability to leverage its fixed costs on increased revenues which offset increased material costs during the year.