The Company Also Announces Participation in Upcoming Investor Conference
ANAHEIM, Calif., Dec. 28 /PRNewswire-FirstCall/ -- Multi-Fineline
Electronix, Inc. (Nasdaq: MFLX), a leading global provider of high-quality,
technologically advanced flexible printed circuit and value-added component
assembly solutions to the electronics industry, said today that it is revising
upward its estimates for earnings for its fiscal first quarter ending
December 31, 2005.
The company currently expects its net income for the fiscal first quarter
to range between $15.0 and $17.5 million. On November 4, 2005, the company
had estimated earnings to be in the range of $11.0 to $12.4 million.
According to M-Flex's chairman and chief executive officer, Phil Harding,
the higher than expected earnings forecast is based on the increased
leveraging of fixed costs on what are expected to be exceptionally strong
wireless communications sales during the quarter.
"While our first quarter is historically our strongest, primarily due to
holiday sales of mobile handset devices, we expect to outperform our earlier
expectations. Regarding the fiscal second quarter, at this point in time, it
is too soon for us to know the extent to which the expected increased sales in
this quarter will affect the seasonal downward trend which we typically
experience during the quarter ending March 31," Harding said.
In addition, M-Flex said that members of its executive team will present
at the following upcoming investor conference:
The Eighth Annual Needham Growth Conference
The Palace Hotel
455 Madison Ave
New York, New York 10022
Wednesday, Jan. 11, 2005 10:30 - 11:00 a.m. Eastern time
Presenters: Phil Harding, chairman and chief executive officer
Craig Riedel, chief financial officer
To access the live audio webcast of this presentation, visit the M-Flex
Investor Relations page at http://www.mflex.com. An archived version of the event
will be available for approximately 60 days following the event.
About M-Flex
M-Flex (http://www.mflex.com) is a global provider of high-quality,
technologically advanced flexible printed circuit and value-added component
assembly solutions to the electronics industry. The company is one of a
limited number of manufacturers that provides a seamless, integrated
end-to-end flexible printed circuit solution for customers, ranging from
design and application engineering, prototyping and high-volume manufacturing
to turnkey component assembly and testing. The company targets its solutions
within the electronics market and, in particular, focuses on applications
where flexible printed circuits are the enabling technology in achieving a
desired size, shape, weight or functionality of an electronic device. Current
applications for the company's products include mobile phones and smart mobile
devices, portable bar code scanners, personal digital assistants, power
supplies and consumable medical sensors. M-Flex completed its initial public
offering in June 2004, and its common stock is quoted on the Nasdaq National
Market under the symbol MFLX.
Certain statements in this news release are forward-looking statements
that involve a number of risks and uncertainties. These forward-looking
statements include, but are not limited to, statements and predictions
regarding revenues, net sales, net income, growth of the company's sales and
business, and seasonal trends in the company's financial results. Additional
forward-looking statements include, but are not limited to, statements
pertaining to other financial items, plans, strategies or objectives of
management for future operations, the company's future operations and
financial condition or prospects, and any other statement that is not
historical fact, including any statement which is preceded by the words
"will," "expect," "estimate," "believe," or similar words. For all of the
foregoing forward-looking statements, the company claims the protection of the
Private Securities Litigation Reform Act of 1995. Actual events or results
may differ materially from the company's expectations. Important factors that
could cause actual results to differ materially from those stated or implied
by the company's forward-looking statements include the impact of changes in
demand for the company's products, the company's success with new and current
customers, changed delivery schedules for the company's products, the
company's effectiveness in managing manufacturing processes and costs, the
degree to which the company is able to utilize available manufacturing
capacity and execute its strategic plans, pricing changes with its customers,
the impact of competition and of technological advances, changes in the
company's overall effective tax rate, the results of audits in the United
States and China, and other risks detailed from time to time in the company's
SEC reports, including its Annual Report on Form 10-K for the fiscal year
ended September 30, 2005. These forward-looking statements represent the
company's judgment as of the date of this release. The company disclaims any
intent or obligation to update these forward-looking statements.
SOURCE Multi-Fineline Electronix, Inc.
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Related links:
http://www.mflex.com
CONTACT:
Investor Relations, Connie Chandler,
+1-714-573-1121, investor_relations@mflex.com, for Multi-Fineline
Electronix, Inc.
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