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$PLXS said it will be relocating their Neenah Design Center, located at 55 Jewelers Park Drive, to Downtown Neenah. $PLXS will lease space in Gateway office building that is located across street from its Global Headquarters. Upon completion of construction in summer of 2017, about 200 employees will relocate to new facility.
$XLNX's revenues from Advanced Products for 3Q18 continued to be strong, increasing 30% from the same quarter a year ago and comprising 56% of company sales. This is supported by accelerated growth in the company's industry-leading 20nm and 16nm technology nodes, which inturn reflects very broad-based customer adoption.
$XLNX reported a 92% drop in 3Q18 earnings due to about $183MM in tax expenses resulting from the recent enactment of the Tax Cuts and Jobs Act. Net income fell to $12MM or $0.05 per share from $142MM or $0.52 per share last year. Revenue grew 8% to $631MM. Operating income increased 16% to $190MM.
$PLXS said it expects 2Q18 revenues to be in the range of $670MM to $710MM. Excluding any potential effect of the tax reform, second quarter GAAP EPS is forecasted in the $0.68-$0.78 range, on gross margins of 4.3-4.7%. Cash outflows are estimated to be between $30MM and $50MM. In fiscal 2018, free cash flow is anticipated to exceed $100MM.
$PLXS, a tech firm in the electronics industry, slipped into the negative territory in 1Q18 reporting a loss of $2.93 per share, compared to profit $0.82 per share a year earlier. The results were impacted by an expense related to the US tax reform. On a non-GAAP basis, Plexus reported earnings of $0.75 per share. Revenues advanced 7% to $677MM.
$PKE said it has declared a special cash dividend of $3.00 per share on its common stock. The dividend is payable on February 13, 2018, to shareholders of record on January 23, 2018. The dividend will be funded from the company's cash balances.
$PKE, a manufacturer of advanced electronic materials, reported a 62% fall in 3Q18 earnings to $0.76MM, mainly owing to higher expenses and restructuring charges. Earnings dipped to $0.04 per share from $0.09 per share last year. Contributing to the slump in bottomline performance, sales dropped 1% annually to $26.14MM.
$KEM expects that it will continue to experience strong performance, both in income statement and balance sheet, throughout balance of fiscal year. $KEM expects to continue to grow cash, with a 2Q ending balance of $253.7MM, and an estimated 3Q ending balance of $265-275MM, while lowering debt and lifting capital expenditures to build capacity.
$KEM expects 3Q18 net sales to be within the $288-300MM range, and gross margin as a percentage of net sales are expected to be 26.5-27.5%. Order rates remain significantly higher than at the same time in the company’s 2Q, and distributor days-on-hand inventory remains within normal levels.
Electronics company $MEI has declared a quarterly dividend of $0.11 per share on its common stock, representing a 22% increase versus the previous dividend. The dividend is payable on January 26, 2018, to stockholders of record on January 12, 2018.
During 1Q18, $JBL posted revenues of $2.7Bil from its Diversified Manufacturing Services segment, an increase of 13% YoY and in line with previous guidance. This represented 49% of total company revenues. The Electronics Manufacturing Services segment revenues were $2.9Bil, up 6% YoY and representing 51% of total revenues.
For 2Q18, $JBL expects net revenues of $4.75-5.05Bil. US GAAP operating income is expected to be $124-169MM and GAAP diluted EPS is expected to be $0.31-0.57. Core operating income is expected to be $160-200MM while core diluted EPS is expected to be $0.50-0.74. $JBL expects consolidated revenue growth of 10% YoY in 2Q18.
$MEI updated its FY18 guidance to sales in the range of $880-900MM from $807-827MM, mainly due to incremental sales from acquisitions. The company, however, maintained its FY18 pre-tax income from operations in the range of $114-127MM and EPS in the range of $2.43-2.63.
Developer of custom engineered and application specific products and solutions, $MEI posted a 2.8% fall in 2Q18 profit, driven by higher expenses, lower sales volume in the Interface segment and unfavorable currency impact. Profit fell to $24.2MM or $0.64 per share from $24.9MM or $0.66 a year earlier. Revenue however, jumped 9.9% to $230.1MM.