Carmakers' discounts fuel Methode gains; But chairman calls 1Q results an anomaly.(Methode Electronics Inc.)(Brief Article)

Crain's Chicago Business, September, 2005 by Murphy, H. Lee

Byline: H. LEE MURPHY Detroit automakers' employee discount programs this summer have energized Methode Electronics Inc.'s latest results, but the rest of the year will challenge the maker of electronic controls. Chicago-based Methode, whose products range from turn-signal blinkers to seat sensors, surprised investors when it reported sales for its first quarter ended July 31 rose more than 10% to $94.0 million.

Analyst David Leiker of Robert W. Baird & Co. in Milwaukee had expected a mere 2% rise. The company gets 71% of its sales from the Big Three automakers, which led price-cutting campaigns starting in June that fueled an unexpected sales run-up. But Methode isn't changing its forecast for full-year fiscal 2006 sales, estimating $385 million to...

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