Methode Electronics Bottom Line Drops In Q4, misses estimates

(RTTNews) - Methode Electronics (MEI) revealed a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $16.2 million, or $0.43 per share. This compares with $31.1 million, or $0.81 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.1% to $288.7 million from $301.0 million last year.

Methode Electronics earnings at a glance (GAAP) :

-Earnings (Q4): $16.2 Mln. vs. $31.1 Mln. last year. -EPS (Q4): $0.43 vs. $0.81 last year. -Analyst Estimates: $0.56 -Revenue (Q4): $288.7 Mln vs. $301.0 Mln last year.