Associated tags: Electronics, Engineering, Methode Electronics, Original equipment manufacturer, LED, NYSE, Interface, Transport, Medicine, Lighting, EidosMedia, Online shopping, Cloud computing
Locations: CHICAGO, IL, US
CHICAGO, May 06, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Kevin Nystrom, a partner and managing director at AlixPartners LLP, has been appointed interim CEO, effective immediately. The company has previously disclosed its ongoing engagement with AlixPartners for various consulting services, including cost reduction and financial advisory.
Key Points:
- Methode's Board of Directors, with the assistance of executive search firm Spencer Stuart, has initiated a search to identify a permanent CEO.
- The company’s former President and Chief Executive Officer, Donald W. Duda, remains a strategic consultant to Methode through January 2025 and will continue to provide support during the transition period.
- Walter J. Aspatore, Chairman of the Methode Board, said, “The Board will work diligently to undertake a comprehensive and timely search to identify a permanent CEO.
- Mr. Nystrom said, “I look forward to joining Methode and leveraging my experience to advance the initiatives already underway, including driving operational efficiencies across the business.”
Mr. Rawden has held multiple CFO and interim CFO positions at both publicly traded and private companies.
Key Points:
- Mr. Rawden has held multiple CFO and interim CFO positions at both publicly traded and private companies.
- "I would like to thank Ron for his many contributions to Methode and wish him the best in his retirement.
- David is a seasoned finance executive, and Methode will benefit from his expertise over the next several months."
- “I am proud of my time at Methode and am confident in the opportunities ahead for the company as I transition into retirement.”
CHICAGO, March 14, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on April 26, 2024, to common stockholders of record at the close of business on April 12, 2024.
Key Points:
- CHICAGO, March 14, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on April 26, 2024, to common stockholders of record at the close of business on April 12, 2024.
Acquisition,
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Tax,
CST,
Automotive industry,
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Methode Electronics,
EidosMedia,
Interface,
Weakness,
Industrial,
Electronics,
Lighting,
LED CHICAGO, March 07, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the third quarter of fiscal 2024 ended January 27, 2024.
Key Points:
- CHICAGO, March 07, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the third quarter of fiscal 2024 ended January 27, 2024.
- We plan to share an update on our business review when we report fiscal fourth quarter results in June.
- Comparing the Automotive segment’s quarter to the same quarter of fiscal 2023,
Net sales were $139.7 million, down from $176.5 million.
- Comparing the Industrial segment’s quarter to the same quarter of fiscal 2023,
Net sales were $107.1 million, up from $91.0 million.
Retrieved on:
Thursday, February 22, 2024
CHICAGO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its third quarter fiscal 2024 results for the period ended January 27, 2024, on Thursday, March 7, 2024, before the market opens.
Key Points:
- CHICAGO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its third quarter fiscal 2024 results for the period ended January 27, 2024, on Thursday, March 7, 2024, before the market opens.
- To participate in the conference call, please dial 888-506-0062 (domestic) or 973-528-0011 (international) at least five minutes prior to the start of the event.
- A replay of the teleconference will be available shortly after the call through March 21, 2024, by dialing 877-481-4010 and providing passcode 49943.
- A webcast replay will also be available through the company’s website, www.methode.com, on the Investors page.
Retrieved on:
Tuesday, December 19, 2023
Mr. Avula will also be appointed as a director of Methode as of his start date, replacing Mr. Duda who intends to resign as of such date.
Key Points:
- Mr. Avula will also be appointed as a director of Methode as of his start date, replacing Mr. Duda who intends to resign as of such date.
- Mr. Avula brings 17 years of electronics industry leadership experience to Methode, and currently serves as the Vice President of Strategy for DuPont’s Electronics & Industrial (E&I) business.
- Chairman Walter J. Aspatore said, "On behalf of Methode’s Board of Directors, we are thrilled to welcome Avi to the Methode team.
- Avi’s appointment follows a comprehensive search process to identify the right CEO to lead Methode forward.
Retrieved on:
Thursday, December 7, 2023
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EidosMedia,
Security (finance) Adjusted EBITDA, a non-GAAP financial measure, was $21.2 million, compared to $46.6 million in the same quarter of fiscal 2023.
Key Points:
- Adjusted EBITDA, a non-GAAP financial measure, was $21.2 million, compared to $46.6 million in the same quarter of fiscal 2023.
- Comparing the Interface segment’s quarter to the same quarter of fiscal 2023,
Net sales were $11.7 million, down from $14.1 million.
- In the first quarter of fiscal 2024, the discontinuation of the Dabir Surfaces, Inc. business (which accounts for all of the Medical segment’s financial results) was announced.
- For fiscal 2024 third quarter, the company expects net sales to be similar to the second quarter and adjusted diluted earnings per share to be modestly higher than the second quarter.
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Wednesday, December 6, 2023
CHICAGO, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on January 26, 2024, to common stockholders of record at the close of business on January 12, 2024.
Key Points:
- CHICAGO, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on January 26, 2024, to common stockholders of record at the close of business on January 12, 2024.
Retrieved on:
Wednesday, November 22, 2023
CHICAGO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2024 results for the period ended October 28, 2023, on Thursday, December 7, 2023, before the market opens.
Key Points:
- CHICAGO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2024 results for the period ended October 28, 2023, on Thursday, December 7, 2023, before the market opens.
- To participate in the conference call, please dial 888-506-0062 (domestic) or 973-528-0011 (international) at least five minutes prior to the start of the event.
- A replay of the teleconference will be available shortly after the call through December 21, 2023, by dialing 877-481-4010 and providing passcode 49414.
- A webcast replay will also be available through the company’s website, www.methode.com, on the Investors page.
Retrieved on:
Thursday, September 14, 2023
Methode Electronics,
Sidoti,
Lighting,
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LED,
Electronics,
Conference,
NYSE,
EDT,
Cryptocurrency,
Financial adviser CHICAGO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, will present at the Sidoti Small-Cap Virtual Conference on Thursday, September 21 at 2:30 p.m. EDT.
Key Points:
- CHICAGO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, will present at the Sidoti Small-Cap Virtual Conference on Thursday, September 21 at 2:30 p.m. EDT.
- A simultaneous webcast can be accessed through the company’s website, www.methode.com, by selecting the Investors page.
- The webcast will also be archived on the same Investors page.
