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Last Update: 08-Jul-11 10:06 ET
Multi-Fineline Lowers Third Quarter Revenue Guidance Below Consensus
Multi-Fineline (MFLX $20.35 -1.38) lowered its third quarter
revenue guidance to approx. $191 million, versus the previous guidance of $200 million to
$220 million and consensus of $209.95 million.
The company expects gross margin to be approx. 12%, down from prior guidance of
12% to 13%.
The company said, "Primarily due to a reduction in demand from one key customer
in the latter part of June, net sales for the third quarter were lower than
expected. Although forecasting in the near term is difficult, we believe we have
significant market share with our major customers and we expect net sales to
increase on a sequential quarter basis in the fourth quarter due to higher
seasonal demand."
