Multi-Fineline Electronix announces fiscal expectations

Multi-Fineline Electronix, a provider of printed-circuit and value-added component assemblies to the electronics industry, has announced strong preliminary financial results for the first quarter of fiscal 2011 ended 31 December 2010.

The company expects to report net sales in the first quarter of approximately $241m (£155m), the highest quarterly amount in its history and an increase of approximately five per cent from net sales of $229.5m in the same quarter last year.

Gross margin during the first quarter of fiscal 2011 is expected to be 14.2 per cent, compared to 15.9 per cent for the same period in the prior year.