Multi-Fineline Electronix Sees Lower Sales In Q1, Expects Loss In Q2

(RTTNews) - Multi-Fineline Electronix, Inc. (MFLX) Wednesday said it expects to report lower sales for its fiscal first quarter ended December 31, 2013.

Looking ahead to the second quarter, the company sees a significant sequential decline in net sales that is anticipated to approach 40 percent. This is expected to drive a net loss during the quarter, it said.

Reza Meshgin, chief executive officer of the company said, "...We are working toward reducing our revenue volatility by continuing to grow our new customers and transitioning to a broader and more profitable product mix."

Announcing its preliminary financial results, the provider of flexible printed circuits and assemblies, said it expects net sales in the first quarter to be within the company's guidance range at about $210 million, compared to net sales of $289.7 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $202.40 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin is anticipated to be in-line with expectations of around breakeven, compared to 8.5 percent last year.

The company expects to provide its complete financial results and business outlook in its earnings release and conference call on February 6.