Molex Inc. (MOLX, Financial) filed Quarterly Report for the period ended 2011-09-30.
Molex Inc. has a market cap of $4.29 billion; its shares were traded at around $24.49 with a P/E ratio of 14.1 and P/S ratio of 1.2. The dividend yield of Molex Inc. stocks is 3.2%.
Our order backlog on September 30, 2011 was approximately $387.2 million compared with order backlog of $445.5 million at September 30, 2010. Orders for the three months ended September 30, 2011 were $910.0 million compared with $868.4 million for the prior year period, representing the increase in customer demand during fiscal 2012. Orders improved in all of our primary markets compared with the prior year period, except for the industrial and telecom markets which decreased 5.4% and 8.4% respectively over the prior year period.
We fund capital projects and working capital needs principally out of operating cash flows and cash reserves. Cash, cash equivalents and marketable securities totaled $568.5 million and $546.5 million at September 30, 2011 and June 30, 2011, respectively, of which $553.0 million was in non-U.S. accounts, including $189.0 million in China, as of September 30, 2011. Transferring cash, cash equivalents, or marketable securities to U.S. accounts from non-U.S. accounts could subject us to additional U.S. repatriation income tax. The primary source of our cash flow is cash generated by operations. Principal uses of cash are capital expenditures, dividend payments and business investments. Our long-term financing strategy is to primarily rely on internal sources of funds for investing in plant, equipment and acquisitions.
Total debt including obligations under capital leases totaled $306.7 million and $342.6 million at September 30, 2011 and June 30, 2011, respectively. We had available lines of credit totaling $406.4 million at September 30, 2011, including a $350.0 million unsecured, five-year revolving credit facility with $330.0 million available as of September 30, 2011. The credit facility also requires us to maintain financial covenants pertaining to, among other things, our consolidated leverage and fixed charge coverage. As of September 30, 2011, we were in compliance with these covenants. Additionally, we have three unsecured borrowing agreements in Japan totaling ¥10.1 billion ($131.8 million) as of September 30, 2011, with weighted average fixed interest rates of 1.56%. See Note 9 of the Notes to the Condensed Consolidated Financial Statements.
Our cash balance increased $24.8 million during the three months ended September 30, 2011. Our primary source of cash was operating cash flows of $150.5 million, the majority of which is generated outside the United States. We used cash during the period to fund capital expenditures of $42.8 million and pay dividends of $35.1 million. The translation of our cash to U.S. dollars decreased our cash balance by $8.6 million as compared with the balance as of June 30, 2011.
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Molex Inc. has a market cap of $4.29 billion; its shares were traded at around $24.49 with a P/E ratio of 14.1 and P/S ratio of 1.2. The dividend yield of Molex Inc. stocks is 3.2%.
Highlight of Business Operations:
Research and development expenditures, which are classified as selling, general and administrative expense, were approximately $43.9 million, or 4.7% of net revenue for the three months ended September 30, 2011, compared with $40.5 million, or 4.5% of net revenue for the comparable prior year period.Our order backlog on September 30, 2011 was approximately $387.2 million compared with order backlog of $445.5 million at September 30, 2010. Orders for the three months ended September 30, 2011 were $910.0 million compared with $868.4 million for the prior year period, representing the increase in customer demand during fiscal 2012. Orders improved in all of our primary markets compared with the prior year period, except for the industrial and telecom markets which decreased 5.4% and 8.4% respectively over the prior year period.
We fund capital projects and working capital needs principally out of operating cash flows and cash reserves. Cash, cash equivalents and marketable securities totaled $568.5 million and $546.5 million at September 30, 2011 and June 30, 2011, respectively, of which $553.0 million was in non-U.S. accounts, including $189.0 million in China, as of September 30, 2011. Transferring cash, cash equivalents, or marketable securities to U.S. accounts from non-U.S. accounts could subject us to additional U.S. repatriation income tax. The primary source of our cash flow is cash generated by operations. Principal uses of cash are capital expenditures, dividend payments and business investments. Our long-term financing strategy is to primarily rely on internal sources of funds for investing in plant, equipment and acquisitions.
Total debt including obligations under capital leases totaled $306.7 million and $342.6 million at September 30, 2011 and June 30, 2011, respectively. We had available lines of credit totaling $406.4 million at September 30, 2011, including a $350.0 million unsecured, five-year revolving credit facility with $330.0 million available as of September 30, 2011. The credit facility also requires us to maintain financial covenants pertaining to, among other things, our consolidated leverage and fixed charge coverage. As of September 30, 2011, we were in compliance with these covenants. Additionally, we have three unsecured borrowing agreements in Japan totaling ¥10.1 billion ($131.8 million) as of September 30, 2011, with weighted average fixed interest rates of 1.56%. See Note 9 of the Notes to the Condensed Consolidated Financial Statements.
Our cash balance increased $24.8 million during the three months ended September 30, 2011. Our primary source of cash was operating cash flows of $150.5 million, the majority of which is generated outside the United States. We used cash during the period to fund capital expenditures of $42.8 million and pay dividends of $35.1 million. The translation of our cash to U.S. dollars decreased our cash balance by $8.6 million as compared with the balance as of June 30, 2011.
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