Multi-Fineline Electronix Inc. Chief Financial Officer Tom Liguori has resigned to pursue other opportunities, the Irvine-based printed circuit board maker announced after the close of intraday trading.
Liguori, who was appointed finance chief in 2008, plans to leave the company in one month.
The company said it’s starting a search for Liguori’s replacement.
Multi-Fineline, better known as M-Flex, also announced some preliminary financial results today for the first quarter.
It projects sales of $145 million to $150 million, in line with Wall Street expectations of $145.7 million.
The company’s largest customer—typically Apple Inc.—is anticipated to account for 65% of projected net sales, while newer customers accounted for about 30% of revenue.
The Cupertino-based consumer electronics maker accounted for 57%, or roughly $360.8 million, of M-Flex’ revenue in the 12 months through September, the end of its fiscal year.
M-Flex this year changed its quarterly earnings reports to coincide with the calendar year.
The company last year consolidated factories in China and closed a research and development center in the U.K. as part of a widespread restructuring plan aimed at returning to profitability.
It projected savings of about $50 million annually through the consolidation.
M-Flex lost $84.5 million in its last fiscal year.
Its shares were down slightly at the close of intraday trading, with a market value of about $483.6 million.
