Plexus Q2 Profit Rises, Strong Q3 Outlook; Shares Gain 9%

(RTTNews) - Plexus Corp. (PLXS) Wednesday reported second-quarter net income of $18.5 million or $0.53 per share, up from $18.0 million or $0.52 per share last year.

Adjusted earnings for the quarter were $20.8 million or $0.60 per share last year. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter was $557.6 million, flat compared to last year's $557.8 million. Analysts estimate revenues of $552.62 million.

Looking forward, the company expects revenues of $600 to $630 million and earnings of $0.69 to $0.74, excluding any restructuring charges and including about $0.10 per share of stock-based compensation expense. Analysts currently estimate earnings of $0.67 per share on revenues of $575.57 million.

Shares of Plexus are up nine percent in extended trading hours.