Plexus Corp recently announced a drop in profit for its latest quarter compared to the same period last year and fell short of Wall Street projections. The company's net income was reported at $16.2 million, or $0.58 per share, which is a noticeable decrease from the $40.8 million, or $1.45 per share, reported for the same quarter in the previous year.
Analysts, as per data gathered by Thomson Reuters, had anticipated the company to post earnings of about $0.87 per share. It should be noted that these estimates usually exclude unique or one-time expenditures.
For the given quarter, the company also reported a 9.6% decrease in revenue, declining from the $1.07 billion reported in the same period last year to $966.9 million.
In summary, Plexus Corp's earnings for this quarter, based on GAAP standards, are as follows:
- Earnings for Q2 were $16.2 million, down from $40.8 million last year.
- Earnings per share for Q2 is $0.58, compared to $1.45 last year.
- Revenue for Q2 is $966.9 million, down from $1.07 billion last year.
