Plexus Reports Q1 EPS Inline With Expectations

Plexus Corp. PLXS announced financial results Wednesday for its first fiscal quarter.

Revenue came in at $665 million, above estimates of $648.11 million and the $533.90 reported in the prior year period.

Non-GAAP diluted EPS was $0.72 (excluding $0.05 per share of restructuring charges), inline with analyst expectations and above the $0.61 reported in the year-ago period.

The company also initiated Q2 fiscal 2015 revenue guidance of $630 to $660 million with EPS of $0.64 to $0.72. Analysts had estimated $648.63 million in revenues for Q2 and EPS of $0.72.

Dean Foate, Chairman, President and CEO, commented, "Fiscal first quarter revenues were $665 million, relatively flat from the prior quarter and up approximately 25 percent from the comparable quarter last year. Revenues were above our guidance due to stronger than anticipated end-market demand in our Networking/Communications sector. Non-GAAP diluted EPS for the first quarter was above the mid-point of our guidance at $0.72. Return on invested capital was 14.4 percent, representing an Economic Return of 340 basis points."

Plexus closed at $40.03, up 0.96 percent.