-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CW3qGPbPD4ufzNbGa67wEkWBmiClS3fQdhRltgGpCG0M180XtuzfhVGm58fxKV5B Em8R6ZEGqckAK6/IyJD43Q== 0000067472-99-000008.txt : 19990511 0000067472-99-000008.hdr.sgml : 19990511 ACCESSION NUMBER: 0000067472-99-000008 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990331 FILED AS OF DATE: 19990510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOLEX INC CENTRAL INDEX KEY: 0000067472 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC CONNECTORS [3678] IRS NUMBER: 362369491 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-07491 FILM NUMBER: 99615270 BUSINESS ADDRESS: STREET 1: 2222 WELLINGTON CT CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6305274253 MAIL ADDRESS: STREET 1: 2222 WELLINGTON COURT CITY: LISLE STATE: IL ZIP: 60532 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 1999 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number 0-7491 __________________MOLEX INCORPORATED__________________ (Exact name of registrant as specified in its charter) Delaware 36-2369491 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 2222 Wellington Court, Lisle, Illinois 60532 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 630-969-4550 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date (applicable only to corporate registrants). At March 31, 1999: Common Stock 76,123,334 shares Class A Common Stock 78,741,008 shares Class B Common Stock 94,255 shares MOLEX INCORPORATED FORM 10-Q MARCH 31, 1999 INDEX Page ---- PART I - FINANCIAL INFORMATION Item 1. Financial Information - Unaudited Condensed Consolidated Balance Sheets -- 2 March 31, 1999 and June 30, 1998 Condensed Consolidated Statements of Income -- 3 Three and Nine Months Ended March 31, 1999 and 1998 Condensed Consolidated Statements of Cash Flows -- 4 Nine Months Ended March 31, 1999 and 1998 Notes to Condensed Consolidated Financial Statements 5 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8 Item 3. Quantitative and Qualitative Disclosure About Market Risk 12 PART II - OTHER INFORMATION 13 - -1- MOLEX INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited - In Thousands)
ASSETS Mar. 31, June 30, 1999 1998 _________ _________ CURRENT ASSETS: Cash and cash equivalents $ 205,502 $ 205,262 Marketable securities 93,607 117,151 Accounts receivable - net 364,867 328,560 Inventories 200,080 184,433 Other current assets 37,412 32,385 Total current assets 901,468 867,791 PROPERTY, PLANT AND EQUIPMENT - NET 750,574 676,161 OTHER ASSETS 116,406 95,682 $1,768,448 $1,639,634 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 135,291 $ 140,350 Accrued expenses 124,564 119,161 Other current liabilities 59,812 73,363 Total current liabilities 319,667 332,874 DEFERRED ITEMS 7,757 6,504 ACCRUED POSTRETIREMENT BENEFITS 34,055 30,536 LONG-TERM DEBT 9,967 5,566 MINORITY INTEREST 937 2,584 SHAREHOLDERS' EQUITY Common stock 8,297 8,272 Paid-in capital 154,376 147,782 Retained earnings 1,443,792 1,322,775 Treasury stock (182,939) (143,714) Deferred unearned compensation (14,659) (19,988) Cumulative translation and other adjustments (12,802) (53,557) Total shareholders' equity 1,396,065 1,261,570 $1,768,448 $1,639,634
The accompanying notes are an integral part of these condensed consolidated financial statements. - - 2 - MOLEX INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited - In Thousands Except per Share Data)
THREE MONTHS ENDED NINE MONTHS ENDED Mar. 31, Mar. 31, Mar. 31, Mar. 31, 1999 1998 1999 1998 NET REVENUE $426,178 $409,228 $1,265,788 $1,224,919 COST OF SALES 252,504 240,705 749,941 717,554 Gross Profit 173,674 168,523 515,847 507,365 OPERATING EXPENSES: Selling 34,771 31,921 104,035 97,324 Administrative 75,328 69,924 227,003 210,486 Total Operating Expenses 110,099 101,845 331,038 307,810 Income from Operations 63,575 66,678 184,809 199,555 OTHER INCOME: Foreign currency transaction gain/(loss) (1,562) (234) (4,217) (439) Interest income, net 1,958 2,662 6,780 8,877 Total Other Income/(Loss) 396 2,428 2,563 8,438 INCOME BEFORE INCOME TAXES 63,971 69,106 187,372 207,993 INCOME TAXES 19,011 22,688 59,366 71,568 NET INCOME $ 44,960 $ 46,418 $ 128,006 $ 136,425 EARNINGS PER COMMON SHARE: BASIC $ 0.29 $ 0.30 $ 0.82 $ 0.87 DILUTED $ 0.29 $ 0.29 $ 0.82 $ 0.86 CASH DIVIDENDS PER COMMON SHARE $ 0.015 $ 0.015 $ 0.045 $ 0.042 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING DURING THE PERIOD: BASIC 155,017 156,657 155,382 156,757 DILUTED 156,006 158,742 156,416 159,015
The accompanying notes are an integral part of these condensed consolidated financial statements. - - 3 - MOLEX INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited - In Thousands)
NINE MONTHS ENDED Mar. 31, Mar. 31, 1999 1998 CASH AND CASH EQUIVALENTS, Beginning of Period $ 205,262 $ 199,767 CASH AND CASH EQUIVALENTS PROVIDED FROM (USED FOR): Operations: Net income 128,006 136,425 Add (deduct) non-cash items included in net income: Depreciation and amortization 117,579 109,066 Amortization of deferred unearned compensation 5,329 4,131 Other (credits)/charges to net income 162 1,333 Current items: Accounts receivable (20,747) (21,500) Inventories (9,972) (19,039) Other current assets (4,643) (7,910) Accounts payable (15,777) (19,633) Accrued expenses 710 19,292 Other current liabilities (20,957) (6,620) NET CASH PROVIDED FROM OPERATIONS 179,690 195,545 Investments: Purchases of property, plant and equipment (157,861) (162,662) Proceeds from sale of property, plant and equipment 1,916 2,976 Proceeds from sale of marketable securities 3,975,107 1,507,892 Purchases of marketable securities (3,961,563) (1,516,198) (Increase)/decrease in other assets (43,023) (4,796) NET CASH USED FOR INVESTMENTS (185,424) (172,788) Financing: Increase in long-term debt 4,401 1,231 Decrease in long-term debt - (3,000) Cash dividends paid (6,932) (6,187) Purchase of treasury stock (39,284) (20,851) Reissuance of treasury stock 1,855 1,574 Exercise of stock options 3,755 3,879 NET CASH USED FOR FINANCING (36,205) (23,354) EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 42,179 (13,825) CASH AND CASH EQUIVALENTS, End of Period $ 205,502 $ 185,345
The accompanying notes are an integral part of these condensed consolidated financial statements. - 4 - MOLEX INCORPORATED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (1) Condensed Consolidated Financial Statements The condensed consolidated financial statements have been prepared from the Company's books and records without audit and are subject to year-end adjustments. The interim financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of information for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Molex Incorporated 1998 Annual Report to Shareholders and the 1998 Annual Report on Form 10-K. The results of operations for the interim periods should not be considered indicative of results to be expected for the full year. (2) Earnings per Common Share The reconciliation of common shares outstanding to dilutive common shares outstanding is as follows:
Three Months Ended Nine Months Ended Mar. 31, Mar. 31, Mar. 31, Mar. 31, 1999 1998 1999 1998 Weighted average shares outstanding - basic 155,017 156,657 155,382 156,775 Dilutive effect of stock options 989 2,085 1,034 2,240 Weighted average shares outstanding - diluted 156,006 158,742 156,416 159,015
(3) Comprehensive Income Effective July 1, 1998, the Company adopted the Financial Accounting Standards Board's (FASB) Statement of Financial Accounting Standards (SFAS) No. 130, "Reporting Comprehensive Income". SFAS No. 130 establishes standards for reporting and display of comprehensive income and its components. Comprehensive income includes all non-shareowner changes in equity and consists of net income, foreign currency translation adjustments and unrealized gains and losses on available-for-sale securities. -5- Total comprehensive income, in thousands of dollars, is as follows:
Three Months Ended Nine Months Ended Mar. 31, Mar. 31, Mar. 31, Mar. 31, 1999 1998 1999 1998 Net income $44,960 $46,418 $128,006 $136,425 Currency translation and other adjustments (38,956) (2,172) 39,507 (87,654) Total comprehensive income $ 6,004 $44,246 $167,513 $ 48,771
4) Inventories Inventories are valued at the lower of first-in, first-out cost or market. Inventories, in thousands of dollars, consist of the following: Mar. 31, June 30, 1999 1998 Raw Materials $ 49,095 $ 48,324 Work in Process 47,932 49,025 Finished Goods 103,053 87,084 -------- -------- $200,080 $184,433 ======== ======== (4) New Accounting Pronouncements In 1997, FASB issued SFAS No. 131, "Disclosures about Segments of an Enterprise and Related Information." In 1998, FASB issued SFAS No. 132, "Employers' Disclosures about Pensions and Other Postretirement Benefits." Both are effective for fiscal years beginning after December 15, 1997, or the Company's fiscal year ending June 30, 1999. SFAS No. 131 establishes standards for reporting information about operating segments and related disclosures about products and services, geographic areas and major customers. SFAS No. 132 revises employers' disclosures about pensions and other postretirement benefit plans. The requirements of these statements only impact financial statement disclosure. Accordingly, these statements will have no impact on the Company's financial position or the results of its operations. Also in 1998, the FASB issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities", effective for all fiscal quarters of all fiscal years beginning after June 15, 1999. It establishes accounting and reporting standards for derivative instruments and for hedging activities. It requires that an -6- entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. The Company is assessing the impact this statement will have on its statement of financial position and the results of its operations. - -7- MOLEX INCORPORATED MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS Consolidated net revenues were $426.2 million for the quarter ended March 31, 1999, increasing 4.1 percent in US dollars and 2.1 percent in local currencies over the corresponding quarter of the prior fiscal year. The strengthening of other currencies against the US dollar caused net revenue to increase $8.2 million for the quarter. For the nine months ended March 31, 1999 revenue grew to $1,265.8 million from $1,224.9 million in the prior year, resulting in growth of 3.3 percent in US dollars and 4.6 percent in local currencies. The generally higher value of the US dollar compared to other currencies worldwide decreased net revenue by $14.9 million for the nine months ended March 31, 1999. Management believes that Molex continues to grow at a rate higher than the connector industry and achieve profitability above the corporate goal of 10 percent net return on sales. For the quarter ended March 31, 1999, revenue in the Americas region increased 3.7 percent in US dollars and 3.9 percent in local currencies over the prior year period which was exceptionally strong. For the nine months ended March 31, 1999, the revenue growth over the same period in the prior year was 4.5 percent in US dollars and 4.7 percent in local currencies. Improved sales of data communications and telecommunications products as well as strong sales of fiber optic products were partially offset by a softening in distribution sales of commercial products and the effects of price erosion in the computer market. Quarterly net revenue in the Far East North increased 21.2 percent in US dollars and 11.8 percent in local currencies compared to the prior year. For the nine months ended March 31, 1999, revenue increased 6.1 percent over the prior year period in US dollars and 7.1 percent in local currencies. Improvements in traditional computer and consumer markets, as well as the penetration of new market areas contributed to the local currency growth. Far East South net revenue for the quarter ended March 31, 1999 increased 22.7 percent in US dollars and 22.0 percent in local currencies from the prior year. For the nine months ended March 31, 1999, revenue increased over the same period in the prior year by 13.0 percent in US dollars and 19.8 percent in local currencies. Personal computer and computer-peripheral products continue to produce strong results. In Europe, net revenue declined 17.5 percent in US dollars and 19.0 percent in local currencies over a very strong prior year quarter. -8- For the nine months ended March 31, 1999, revenue declined from the comparable prior year period by 1.7 percent in US dollars and 4.4 percent in local currencies. The weakened economic environment in Europe continues to impact growth. For the nine months ended March 31, 1999, 63.3 percent of Molex's worldwide net revenue was generated from its international operations. International operations are subject to currency fluctuations and government actions. The devaluations of several Asian currencies have had an adverse effect on reported sales and profits for the nine month period, but showed improvement during the third quarter. Molex monitors its currency exposure in each country and continues to implement defensive strategies to respond to changing economic environments. Due to the uncertainty of the foreign exchange markets, Molex cannot reasonably predict future trends related to foreign currency fluctuations. Foreign currency fluctuations have impacted results in the past and may impact results in the future. Gross profit as a percent of net revenue was 40.8 percent for the quarter ended March 31, 1999 compared to 41.2 percent for the quarter ended March 31, 1998. For the nine months ended March 31, 1999 the gross profit percentage was 40.8 percent, down from 41.4 percent for the same period in the prior year. This decrease is primarily due to depreciation expense associated with the Company's increased level of capital investments in new products and manufacturing capacity partially offset by favorable raw material costs and productivity improvements. Selling and administrative expenses were $110.1 million and $331.0 million, respectively, for the quarter and nine month period ended March 31, 1999 as compared to $101.8 million and $307.8 million, respectively, for the comparable periods in the prior year. For the quarter and nine months ended March 31, 1999, selling and administrative expenses as a percent of net revenue were 25.8 percent and 26.2 percent, respectively, as compared to 24.9 percent and 25.1 percent, respectively, for the same period in the prior year. The addition of new entities and new product lines contributed to the higher spending. Also included in selling and administrative expenses are research and development expenditures which for the nine months ended March 31, 1999, increased at a higher rate as a percent of net revenue than the prior year period, 6.1 percent versus 5.8 percent, respectively. Foreign currency transaction losses were $1.6 million and $4.2 million, respectively, for the quarter and nine months ended March 31, 1999 compared with $.2 million and $.4 million for the prior year periods. The transaction losses were largely a result of the strengthening Japanese Yen. Interest income, net of interest expense, was $2.0 million in the quarter ended March 31, 1999 as compared to $2.7 million in the prior year and was $6.8 million for the nine months ended March 31, 1999 as compared to $8.9 million a year ago. The decline is primarily due to lower global interest rates. The effective tax rate was 30.0 percent for the quarter ended March 31, 1999, as compared to 32.8 percent in the prior year period and was 31.7 percent for the nine months ended March 31, -9- 1999 as compared to 34.4 percent last year. The reduction was caused by the Company implementing a more aggressive repatriation strategy, Japanese tax rate reductions, tax exemptions in the Far East South and the continuing effort to reduce the US local income tax burden. Net income for the quarter was $45.0 million or 29 cents per basic and diluted share, a 3.1 percent decrease compared with $46.4 million or 30 cents per basic and 29 cents per diluted share for the same quarter last fiscal year. Net income for the nine months ended March 31, 1999 was $128.0 million or 82 cents per basic and diluted share, as compared to net income of $136.4 million or 87 cents per basic and 86 cents per diluted share, for the same period in the prior year. Excluding the effects of currency translation, net income decreased 4.3 percent for the quarter and 4.5 percent for the nine months ended March 31, 1999 from the comparable prior year periods. LIQUIDITY AND CAPITAL RESOURCES Molex's balance sheet continues to be exceptionally strong. Working capital at March 31, 1999 was $581.8 million, an increase from $544.8 million at June 30, 1998. During the nine months ended March 31, 1999, the Company has purchased an aggregate of 1,369,000 shares of treasury stock at an aggregate cost of $39.3 million. This is in accordance with authorization by the Board of Directors allowing for the purchase of up to $50 million of Company stock during the current fiscal year. Management believes that the Company's current liquidity and financial flexibility are adequate to support its continued growth. YEAR 2000 Molex recognizes the importance of the Year 2000 issue and has been giving high priority to it. The Company has completed an assessment of its business and other information systems as well as the non-information system aspects of its business that could be impacted by the Year 2000 issue. Over the past few years, the Company has developed and is currently implementing its Global Information System (GIS), which is Year 2000 compliant. The GIS project is approximately 65 percent implemented and is expected to be substantially complete by September 1999. The Company presently believes that with modifications to existing software and the GIS implementation, the Year 2000 issue will not pose material operational problems for its information systems. While considered unlikely, management believes that the most likely, worst case Year 2000 scenario would be a delay in the completion of the GIS implementation at one or more of its operating subsidiaries and the need for rapid remediation of legacy systems to make them Year 2000 compliant. At this time management has not -10- determined the impact this worst case scenario would have on its financial position, results of operations or cash flows, but believes that its experience implementing GIS to date mitigates this risk. While the GIS implementation addresses many of the Company's Year 2000 issues, the Company does not consider the GIS implementation costs to be related to the Year 2000 issue as such costs are a strategic expenditure to enhance future operations and would be incurred regardless of the Year 2000 issue. Total costs related to the GIS project are expected to reach $55-60 million once complete. Expenditures related to the Year 2000 date conversion effort, principally the cost to remediate existing software or microprocessors embedded in the Company's manufacturing systems, are not expected to be significant and management expects the total costs of such remediation effort to range from $2-5 million. Such costs will be incurred principally during calendar 1999 and should not have a material impact on the Company's financial position, results of operations or cash flows. Part of the risk inherent in the Year 2000 issue results from the general uncertainty of the readiness of material third-party relationships. Although the company cannot know or foresee every eventually that suppliers and customers may face which could impact its operations, the Company has been actively communicating with its critical external relationships to determine the extent to which the Company may be vulnerable to such parties' failure to resolve their own Year 2000 issues. At present, the Company is in the process of developing contingency plans where practicable, and continues to assess its risks with respect to the failure of these entities to be Year 2000 ready. The Company cannot estimate the cost to the Company of the failure of third parties to address their Year 2000 issues and there can be no assurance that there will not be a material adverse effect on the Company if third parties do not convert their systems in a timely manner and in a way that is compatible with the Company's systems. OUTLOOK The outlook for the remainder of fiscal 1999 remains cautious for Molex in light of continuing soft economic conditions in many parts of the world. Due to the uncertainty of the foreign currency exchange markets, Molex cannot reasonably predict future trends related to foreign currency fluctuations. Foreign currency fluctuations have impacted the Company's results in the past and may impact results in the future. Notwithstanding the effects of currency fluctuations, the underlying Molex growth rates in Asia are encouraging. This strength in the Far East will increasingly benefit the Company as its customers continue to move production to this region. Coupled with weakened economic conditions in Europe and the moderation of growth in the Americas, the outlook for the remaining year is one of guarded optimism. To further expand the Company's global presence, offer innovative products at an accelerated pace, and improve internal productivity, Molex plans to invest approximately $230 million in capital expenditures and approximately $105 million in research -11- and development for the fiscal year ending June 30, 1999. Management believes the Company is well positioned to continue growing faster than the overall connector industry. The Company continues to emphasize expansion in rapidly growing industry segments, product lines and geographic regions. Molex remains committed to providing high quality products and a full range of services to its customers worldwide. FORWARD LOOKING STATEMENT This document contains various forward looking statements. Statements that are not historical are forward looking statements and are subject to various risks and uncertainties which could cause actual results to vary materially from those stated. Such risks and uncertainties include: economic conditions in various regions, product and price competition, raw material prices, foreign currency exchange rates, technology changes, patent issues, litigation results, legal and regulatory developments, and other risks and uncertainties described in documents filed with the Securities and Exchange Commission. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The Company is subject to market risk associated with changes in foreign currency exchange rates, interest rates and certain commodity prices. The Company mitigates its foreign currency exchange rate risk principally through the establishment of local production facilities in the markets it serves and invoicing of customers in the same currency as the source of the products. Molex also monitors its foreign currency exposure in each country and implements strategies to respond to changing economic and political environments. Examples of these strategies include the prompt payment of intercompany balances utilizing a global netting system, the establishing of contra-currency accounts in several international subsidiaries, development of natural hedges and occasional use of foreign exchange contracts. One of the Company's subsidiaries utilizes derivative commodity futures contracts to hedge against fluctuations in commodity price fluctuations. Such commodity futures contracts are limited to a maximum duration of eighteen months. - -12- A formalized treasury risk management policy has been implemented by the Company which describes the procedures and controls over derivative financial and commodity instruments. Under the policy, the Company does not use derivative financial or commodity instruments for trading purposes and the use of such instruments are subject to strict approval levels by senior officers. Typically, the use of such derivative instruments is limited to hedging activities related to specific foreign currency cash flows or inventory purchases. The Company's exposure related to such transactions is, in the aggregate, not material to the Company's financial position, results of operations and cash flows. Interest rate exposure is principally limited to the $93.6 million of marketable securities owned by the Company. Such securities are debt instruments which generate interest income for the Company on temporary excess cash balances. The Company does not actively manage the risk of interest rate fluctuations, however, such risk is mitigated by the relatively short term, less than twelve months, nature of these investments. Part II - Other Information Items 1 - 4. Not Applicable Item 5. Other Information On April 30, 1999, the Board of Directors approved for Molex to enter into an agreement to acquire Cardell Corporation, an Auburn Hills, Michigan-based privately-owned automotive terminal and connector manufacturer. Closing of the transaction is subject to satisfaction or waiver of various conditions, but is currently expected to occur in June 1999. Terms of the transaction were not disclosed. Also on April 30, 1999, the Board of Directors approved the appointment of J. Joseph King to the Board of Directors, effective July 1, 1999. This addition expands Molex's Board to ten directors, including six outside directors. In addition to his appointment as director, Mr. King will assume the position of President and Chief Operating Officer. J. Joseph King has been with Molex over 24 years and is currently Executive Vice President. This is the first time in the Company's 61 year history that a non-Krehbiel family member has served as President of the Company. John H. Krehbiel, Jr., currently President and Chief Operating Officer, will join Fred A. Krehbiel as Co-Chairman and Co-Chief Executive Officer of Molex. Item 6. Exhibits and Reports on Form 8-K None -13- S I G N A T U R E S Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MOLEX INCORPORATED -------------------- (Registrant) Date May 10, 1999 /s/ ROBERT B. MAHONEY ----------------- -------------------- Robert B. Mahoney Corporate Vice President, Treasurer and Chief Financial Officer Date May 10, 1999 /s/ LOUIS A. HECHT ----------------- -------------------- Louis A. Hecht Corporate Secretary and General Counsel EX-27 2
5 1000 9-MOS JUN-30-1999 MAR-31-1999 205,502 93,607 364,867 0 200,080 37,412 750,574 117,579 1,768,448 319,667 0 0 0 162,673 1,235,786 1,768,448 1,265,788 1,265,788 749,941 749,941 331,038 4,217 (6,780) 187,372 59,366 128,006 0 0 0 128,006 .82 .82
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