Methode method lifts earnings

Investor's Business Daily

Shares of Methode Electronics (MEI) soared after fiscal Q1 earnings crushed Wall Street estimates and the company raised full-year EPS guidance to $2.10-$2.20 vs. views for $1.97. The Fort Worth, Texas-based maker of electromechanical components, which combine electronics and mechanical parts in a single device, said Q1 EPS climbed 53% to 55 cents and revenue shot up 30% to $218.1 mil on strong sales of devices to N. American automakers. Analysts expected 40-cent EPS on $193.7 mil revenue. Shares leapt 15.9% to 39.72.

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