Methode Electronics (MEI) has released its earnings report for the second quarter. The company recorded a net loss of $1.6 million, significantly improved from the $55.3 million loss in the same quarter the previous year. This equates to a loss per share (EPS) of $0.05, compared to a considerably larger loss of $1.55 per share during the same period last year. After adjustments, Methode Electronics posted earnings of $5.2 million, or $0.14 per share, for the quarter.
Analysts had anticipated a loss of $0.16 per share. On the revenue side, the company achieved $292.6 million in the second quarter, a slight increase from the $288 million reported in the equivalent period last year.
