Methode Electronics Q3 Profit Rises - Quick Facts

(RTTNews) - Methode Electronics Inc. (MEI) reported that its third-quarter net icnome to company increased to $14.60 million from $3.32 million last year. Earnings per share was $0.38 compared to $0.09 prior year.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased to $189.75 million from $122.98 million. Analysts expected revenue of $174.83 million for the quarter.

Methode's board approved a 29 percent increase in the quarterly cash dividend on common stock to $0.09 per share. The dividend is payable May 2, 2014 to shareholders of record on April 18, 2014.

Methode has reiterated its full-year 2014 sales guidance range of $720 million to $750 million and earnings per share guidance range of $1.70 to $1.90. Analysts expect the company to report fiscal 2014 profit per share of $1.81 on revenue of $736.07 million.