Molex shares sink on lower outlook

By Mary Ellen Podmolik
Posted Oct. 27, 2010 at 9:31 a.m.

Shares of Molex Inc. were down 7 percent in early trading Wednesday, a day after the Lisle-based company reported better-than-expected earnings bur warned that its second-quarter earnings would be below estimates.

The company’s shares were trading at less than $21 a share at mid-morning, after closing Tuesday at $22.55 on Nasdaq. Shares fell in extended trading. The shares previously had risen 12 percent since the company’s fourth-quarter earnings report in August.

Molex, which makes electronic connectors for companies like Dell Inc., Ford Motor Co., and Motorola Inc., warned Wall Street that its fiscal second-quarter earnings would be in the range of 38 to 44 cents a share. Analysts were expecting earnings of 45 cents a share, according to Thomson Reuters I/B/E/S.

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