Methode Electronics Reports Q3 $15.9M Loss, Sells dataMate Business to Bel Fuse
Methode Electronics posted a fiscal Q3 loss of $15.9 million, or 45 cents per share (37 cents adjusted), on $233.7 million revenue, and forecast full-year sales of $950 million to $1 billion. The company sold its dataMate copper transceiver business to Bel Fuse to sharpen its portfolio, reduce debt and direct resources toward high-density power-delivery solutions for AI data centers.
1. Fiscal Third Quarter Financial Results
Methode Electronics reported a $15.9 million loss in its fiscal third quarter, equivalent to a 45 cent per share loss (37 cents adjusted), on revenue of $233.7 million. Non-recurring charges contributed to the gap between GAAP and adjusted per-share results.
2. Full-Year Revenue Guidance
The company projects full-year revenue between $950 million and $1 billion as it works to restore profitability and manage margin pressures in its core automotive and industrial segments.
3. Divestiture of dataMate Business
Methode sold its dataMate copper transceiver unit to Bel Fuse to refine its portfolio and reduce debt, freeing capital and management focus to accelerate development of high-density power-delivery products for AI computing and data center markets.