April 21, 2009 / 10:47 PM / 9 years ago

UPDATE 1-Molex posts wider-than-expected Q3 loss

* Q3 loss/shr of $0.14 vs. est of $-0.07

* Q3 revenue down almost 39 pct

* Sees Q4 rev $525-$575 mln vs. est $537.7 mln

* Sees FY09 capex of $165-$185 mln

April 21 (Reuters) - Electronic connector maker Molex Inc MOLX.O posted a third-quarter loss, which was wider than market estimates, hurt by a 47 percent drop in orders and a higher restructuring charge.

For the quarter ended March 31, Molex posted a net loss of $58.6 million, or 34 cents a share, compared with net income of $50.3 million, or 28 cents a share, in the year-ago period.

The results included a restructuring charge of 20 cents a share. In the prior-year quarter, the company had recorded a restructuring charge of 3 cents a share.

Revenue fell about 39 percent to $505.5 million, hurt by a reduction in inventory by customers and currency translations.

Analysts on average were expecting revenue of $527.5 million, according to Reuters Estimates.

The Lisle, Illinois-based company forecast revenue of $525 million to $575 million for the current quarter.

“While orders appear to have bottomed in the March quarter, future visibility remains limited. As a result, the company considers it prudent to provide a wide range in its outlook,” it said in a statement.

The total estimated pre-tax restructuring charge through the end of fiscal 2010 has increased to a range of $240 million to $250 million, the company said.

Shares of the company, which recently had two of its managers detained and later freed by its factory staff in southwestern France, closed up almost 4 percent at $16.38 Tuesday on Nasdaq. (Reporting by Biswarup Gooptu in Bangalore; Editing by Himani Sarkar)

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