Multi-Fineline Electronix, Inc.

Multi-Fineline Electronix, Inc. (MFLX) is fresh off the heels of projecting strong fourth-quarter results that has given its share price a very nice boost.

Company Description

Multi-Fineline Electronix, Inc. designs and manufactures flexible printed circuit boards and related components for the electronics industry. The company's products are used in such items as mobile phones, personal digital assistants and medical devices. Multi-Fineline was founded in 1984 and has a market cap of $488 million.

Multi-Fineline is distinguishing itself in a tough market by growing its earnings and delivering solid returns to its shareholders. This dynamic was on full display on Nov 3 when the company reported fourth-quarter results that were ahead of analyst estimates.

Third-Quarter Results

Revenue was up 28% from last year to $213.1 million. Income more than doubled, jumping to $7.6 million from $3 million. When excluding one-time items, earnings came in at $68 cents, ahead of analyst estimates of 37 cents.

Over the last 4 quarters, Multi-Fineline has been handily exceeding analyst estimates, having done so by an average of 21 cents, or 102%.

Bullish Guidance

On Jan 5, Multi-Fineline projected bullish results for its fourth-quarter, saying it expects sales of $215 million, up from its November projection between $184.2 and $213.1 million. The company also announced that its board approved a share buyback program of 2.3 million shares, about 9 percent outstanding.

Analyst Estimates

Analysts went ahead and raised their earnings estimates after the solid quarter, with the current-year estimate climbing a hefty 42 cents to $1.81 per share. The next-year estimate is bullish, pegged at $1.93, a 7% earnings growth projection.

The Chart

Shares of MFLX have been on a nice rally since reporting the solid quarter, rising from just above $12 to a recent high just below $20. Take a look below.

Read the full analyst report on MFLX