LISLE, Ill. -- Molex Incorporated (NASDAQ:MOLX - News and MOLXA - News), a global electronic components company, today reported results for its fiscal second quarter and first six months ended December 31, 2002 and provided guidance for the remainder of the fiscal year ending June 30, 2003.

Revenues of $454.6 million increased 9.2 percent from last year's second quarter of $416.5 million. Revenues in local currencies increased 7.7 percent, as currency translation increased net revenues by $6.1 million, when compared to last year's second quarter.

Revenues were below the guidance previously provided, primarily due to a more moderate demand in a number of the Company's worldwide markets. In addition, the month of December was slower than normal as customers generally closed manufacturing plants earlier in the month to minimize inventory at calendar year-end. Net return on sales for the second quarter was 6.2 percent. Net income was $28.2 million, compared to last year's second quarter of $4.3 million, which included a special charge. Net income of $28.2 million increased 22.0 percent, when compared to last year's second quarter net income of $23.1 million prior to the special charge. Earnings per share of $0.15 were in line with previous Company guidance. This compares with last year's second quarter of $0.02 after the special charge and $0.12 prior to the special charge. Currency translation did not have a material effect upon net income, but we did benefit from higher interest income. The Company's earnings performance reflects the Company's ability to maintain margins and tight cost controls during a difficult worldwide economic environment.

Molex Inc.