AU Optronics denies production plan
Dec 30, 2004
The company also announces participation in upcoming investor conference
Multi-Fineline Electronix, Inc. (NASDAQ: MFLX) said that it is revising upward its estimates for earnings for its fiscal first quarter ending December 31, 2005.
The company currently expects its net income for the fiscal first quarter to range between $15.0 and $17.5 million. On November 4, 2005, the company had estimated earnings to be in the range of $11.0 to $12.4 million.
According to M-Flex's chairman and chief executive officer, Phil Harding, the higher than expected earnings forecast is based on the increased leveraging of fixed costs on what are expected to be exceptionally strong wireless communications sales during the quarter.
"While our first quarter is historically our strongest, primarily due to holiday sales of mobile handset devices, we expect to outperform our earlier expectations. Regarding the fiscal second quarter, at this point in time, it is too soon for us to know the extent to which the expected increased sales in this quarter will affect the seasonal downward trend which we typically experience during the quarter ending March 31," Harding said.