M-Flex no longer expects sequential growth for Q2
Mar 29, 2007
Multi-Fineline Electronix, Inc. (Nasdaq: MFLX) said that it does not expect to grow sequentially between the first and second quarters of fiscal 2007.
On February 6, 2007, M-Flex said it expected sequential growth during the second fiscal quarter ending March 31, 2007, unlike in previous years when seasonality and product mix typically resulted in a decline in sales between the company's first and second fiscal quarters.
According to M-Flex's chairman and chief executive officer, Phil Harding, the company's performance during the second quarter of fiscal 2007 has been negatively impacted primarily by less than anticipated sales to M-Flex's largest customer. As a result, net sales are expected to decline sequentially, and net income may decline as well.