UPDATE 1-Molex raises first-quarter outlook, shares rise

lunedì 21 settembre 2009 15:49

* Sees Q1 adj EPS of $0.12-$0.16 vs prior view of $0.04-$0.10

* Raises Q1 revenue to $650 mln-$665 mln

* Shares rise 10 pct

Sept 21 (Reuters) - Electronic components-maker Molex Inc MOLX.O raised its first-quarter earnings and revenue forecast, citing higher orders in all key markets, sending its shares up 10 percent.

The company also said the recent settlement regarding the closure of a European manufacturing facility will accelerate the recognition of certain restructuring costs.

Molex had faced boycott threats from the French government over its manufacturing facility at Villemur-sur-Tarn, which was stricken by industrial dispute.

For the first quarter, the company sees earnings of 12 cents to 16 cents a share, excluding items, compared with its prior view of 4 cents to 10 cents a share.

It expects revenue of $650 million to $665 million, up from its prior view of $590 million to $630 million.

Shares of the Lisle, Illinois-based company were trading up 7 percent at $21.85 Monday morning on Nasdaq. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Anne Pallivathuckal)