Sales to wireless phone makers helped drive a sales increase at Anaheim-based Multi-Fineline Electronix Inc., known as M-Flex, in the most recent quarter.
The company said Wednesday that net sales for the quarter ended June 30 rose 18% to $84.4 million, versus a year earlier. Operating profit in the quarter fell 7% to $11.2 million.
The profit decline was due in part to pricing pressure. M-Flex makes flexible printed circuit boards for wireless phones and other products.
M-Flex posted 17% growth in revenue from the wireless sector, including a 13% increase in sales to the company’s largest cell phone customer. The company’s non-wireless sales grew 25% in the period, including to makers of personal digital assistants, medical devices and electronic data storage equipment.
The company expects to report sales of $95 million to $105 million and net income of $9 million to $10.5 million in the quarter ending Sept. 30.
Shares of M-Flex rose 9% to $23.3 in after-hours trading following the earnings release.
