exv99w1

Exhibit 99.1

Contact: Neil Lefort

Senior Vice President

(630) 527-4344

MOLEX REPORTS RESULTS INCLUDING RECORD ORDERS
FOR 2008 THIRD FISCAL QUARTER

Lisle, IL, USA — April 22, 2008 — Molex Incorporated (NASDAQ: MOLX and MOLXA), a global electronic components company, today reported results for its 2008 third fiscal quarter.

2008 Third Quarter Results

Revenue for the quarter ended March 31, 2008 was $822.3 million, an increase of 1.9% over the same period last fiscal year. Revenue in local currencies declined 4.4% as currency translation increased revenue by $51.1 million compared with last year’s March quarter.

When compared with the same period last fiscal year, revenue in the telecom market increased 5.7%. Revenue in the data and consumer electronics markets increased 8.7% and 1.7% respectively. Revenue in the automotive market increased 5.4%, due to gains in Japan and Europe. Revenue in the industrial market declined 18.4%, the result of divesting certain low margin businesses and a delay in shipments related to a seasonal project.

Net income for the March quarter was $50.3 million, or $0.28 per share. Included in the current quarter was an after-tax charge of $4.9 million ($0.03 per share) relating to the previously announced restructuring program and an income tax charge of $10.5 million ($0.06 per share) due to foreign tax credit adjustments resulting from the recent filing of our fiscal 2007 tax return. Without these charges, earnings per share would have been $0.37 per share. Earnings per share were $0.33 (including a restructuring charge of $0.02) in the December 2007 quarter and $0.35 in the prior year March quarter.

Gross profit margin for the March quarter was 30.9%, improving to the highest level since the prior year March quarter when gross profit margin was 31.1%. SG&A expense for the March quarter was 20.4% of revenue, compared with 19.7% in the December quarter, and 20.1% in the prior year quarter. The effective tax rate for the March quarter was 42.1%, reflecting the income tax charge mentioned previously.

Orders for the March quarter were $898.0 million, increasing 14.7% compared with the prior year quarter and 4.5% sequentially. Orders have increased sequentially in each of the three quarters during the current fiscal year. Year over year order growth was strong in all major markets, with the exception of the industrial market which was flat. Compared with the prior year quarter, order growth in the telecom market was very strong increasing by 35%. Order growth was strong in the data and consumer electronics markets which increased 13.0% and 11.1% respectively. Order growth in the medical electronics market was 14.1%. While the medical electronics market currently represents only 2.7% of total revenue, the Company expects significant long term growth in this market coincidental with the aging population demographics.

The Company’s order backlog on March 31, 2008 increased 33.2% to $461.0 million, compared with $346.0 million in the prior year March quarter. Backlog as of December 2007 was $375.0 million.

Martin P. Slark, CEO and Vice-Chairman, commented on the third quarter, “We were very pleased with our operating results, especially the sequential improvement in gross profit margin. Since the transition to the new global product division and sales and marketing organization, we have made steady progress in improving operating efficiencies. We have also reduced capital spending as a percentage of revenue by 210 basis points during the current fiscal year. In the March quarter our restructuring activities advanced significantly with the completion of our plant expansion in China.”

“Demand trends were very positive with record new orders and a 1.09 book to bill ratio. We believe this demonstrates the enhanced ability of our global sales and marketing organization to generate additional business including design wins in our customers new products.”

Research and Development and Capital Spending

Research and development expenditures for the March quarter were $41.7 million, compared with $40.6 million in the prior year March quarter. Capital expenditures for the March quarter were $61.0 million, compared with $63.6 million in the prior year March quarter. Capital expenditures for the first three quarters of fiscal 2008 were 6.7% of revenue, compared with 8.8% of revenue in the prior year period. This reduction is consistent with the Company’s goal of increasing asset efficiency by lowering the incremental investment required to drive future growth.

Depreciation expense was $61.8 million, compared with $58.3 million in the prior year March quarter and $60.3 million in the December quarter.

Nine-Month Results

Revenue for the nine-months ended March 31, 2008 was $2.46 billion, a decrease of 0.7% compared with the prior fiscal year. During the current fiscal year, currency translation increased revenue by $104.4 million. Net income of $162.8 million, or $0.89 per share declined 21.7% compared with last year’s net income of $208.0 million, or $1.12 per share. Included in the current fiscal year results is an after-tax charge of $11.1 million ($0.06 per share) relating to the restructuring program and an income tax charge of $10.5 million ($0.06 per share) as a result of foreign tax credit adjustments resulting from the recent filing of our fiscal 2007 tax return.

Stock Buyback

During the quarter, the Company repurchased 2,085,000 shares of Class A Common Stock (MOLXA) and 325,000 shares of Common Stock (MOLX) at a total cost of $54.4 million. The Board of Directors previously authorized the repurchase of up to $200.0 million of common stock through June 30, 2008, and approximately $33.8 million remains under this authorization.

Fourth Quarter Outlook

Martin P. Slark commented, “We entered the fourth quarter with considerable momentum. New orders in the third quarter were a record. We believe we have significant competitive advantage by combining our new product technologies with our global presence, both in access to stronger overseas demand and through the diversification of a global customer base. The recently implemented product division based organization is also providing opportunities to expand both sales and profits. In addition, the restructuring initiatives are moving forward, with increases in operating margins expected in fourth quarter.”

As a result, the Company anticipates a sequential improvement in revenue and earnings per share for the fourth fiscal quarter ending June 30, 2008. The Company expects that revenue will be in a range of $850 to $890 million, and earnings per share will be in a range of $0.36 to $0.40. These estimates include a restructuring charge of approximately $0.03 per share.

Forward-Looking Statements

Statements in this release that are not historical are forward-looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Forward-looking statements are based on currently available information and include, among others, the discussion under “Fourth Quarter Outlook.” These risks and uncertainties include those associated with the operation of our business, including the risk that customer demand will decrease either temporarily or permanently, whether due to the Company’s actions or the demand for the Company’s products, and that the Company may not be able to respond through cost reductions in a timely and effective manner; price cutting, new product introductions and other actions by our competitors; fluctuations in the costs of raw materials that the Company is not able to pass through to customers because of existing contracts or market factors; the challenges attendant to plant closings and restructurings, including the difficulty of predicting plant closing and relocation costs, the difficulty of commencing or increasing production at existing facilities, and the reactions of customers, governmental units, employees and other groups, the challenges attendant to plant construction; and the ability to realize cost savings from restructuring activities, as well as difficulty implementing the transition to a product-focused organization structure.

Other risks and uncertainties are set forth in Item 1A “Risk Factors” of the Company’s Form 10-K for the year ended June 30, 2007, which is incorporated by reference and in reports that Molex files or furnishes with the Securities and Exchange Commission. This release speaks only as of its date and Molex disclaims any obligation to revise these forward-looking statements or to provide any updates regarding information contained in this release resulting from new information, future events or otherwise.

Earnings Conference Call Information

A conference call will be held on Tuesday, April 22, 2008 at 4:00 pm central. Please dial (888) 679-8035 to participate in the conference call. International callers please dial (617) 213-4848. Please dial in at least five minutes prior to the start of the call and refer to participant passcode 26199576. Internet users will be able to access the web-cast, including slide materials, live and in replay in the “Investors” section of the Company’s website at www.molex.com. A 48-hour telephone replay will be available at approximately 6:00 pm central at (888) 286-8010 or (617) 801-6888 / passcode 79248697.

Other Investor Events

May 8, 2008 — Merrill Lynch Tech Conference in New York

May 14, 2008 — Credit Suisse Hardware, Semi & Supply Chain Conference in Boston

June 3, 2008 — NASDAQ market open in New York

June 18, 2008 — William Blair & Company Conference in Chicago

August 5, 2008 — Molex FY08 Q4 Press Release and Conference Call

August 6, 2008 — Molex Analysts Meeting in Rosemont, Illinois

Note: The Company’s SEC filings, as well as news releases and other supplementary financial data are available on the Company’s website at www.molex.com.

Molex Incorporated is a 68-year-old manufacturer of electronic components, including electrical and fiber optic interconnection products and systems, switches and integrated products, with 59 plants in 19 countries throughout the world.

# # #

Editor’s note: Molex is traded on the NASDAQ Global Select Market (MOLX and MOLXA) in the United States and on the London Stock Exchange. The Company’s voting common stock (MOLX) is included in the S&P 500 Index.

Molex Incorporated
Adjusted Results
(Unaudited)
(in thousands, except per share data)

Three months ended March 31, 2008:


	U.S.		Restructuring			Tax			Adjusted
	GAAP		Adjustment			Adjustment			Results⁽¹⁾
Net revenue	$	822,285	$	—		$	—		$	822,285

Cost of sales		567,824		—			—			567,824


Gross profit		254,461		—			—			254,461


Selling, general and administrative		167,639		—			—			167,639

Restructuring costs and asset impairments		6,399		(6,399	)		—			—


Total operating expenses		174,038		(6,399	)		—			167,639


Income from operations		80,423		6,399			—			86,822

Investment income		4,462		—			—			4,462

Interest income, net		2,044		—			—			2,044


Other income, net		6,506		—			—			6,506


Income before income taxes		86,929		6,399			—			93,328

Income taxes		36,623		1,497			(10,544	)		27,576


Net income	$	50,306	$	4,902		$	10,544		$	65,725


Earnings per share:
Basic	$	0.28							$	0.37
Diluted	$	0.28							$	0.37

Average common shares outstanding:
Basic		179,385								179,385
Diluted		180,086								180,086

Nine months ended March 31, 2008:


	U.S.		Restructuring			Tax			Adjusted
	GAAP		Adjustment			Adjustment			Results⁽¹⁾
Net revenue	$	2,456,455	$	—		$	—		$	2,456,455

Cost of sales		1,712,729		—			—			1,712,729


Gross profit		743,726		—			—			743,726


Selling, general and administrative		493,973		—			—			493,973

Restructuring costs and asset impairments		16,286		(16,286	)		—			—


Total operating expenses		510,259		(16,286	)		—			493,973


Income from operations		233,467		16,286			—			249,753

Investment income		7,241		—			—			7,241

Interest income, net		6,964		—			—			6,964


Other income, net		14,205		—			—			14,205


Income before income taxes		247,672		16,286			—			263,958

Income taxes		84,846		5,193			(10,544	)		79,495


Net income	$	162,826	$	11,093		$	10,544		$	184,463


Earnings per share:
Basic	$	0.90							$	1.02
Diluted	$	0.89							$	1.01

Average common shares outstanding:
Basic		181,260								181,260
Diluted		182,156								182,156


⁽¹⁾		Adjusted results is a non-GAAP financial measure. We refer to non-GAAP financial measures to describe earnings for such periods excluding the items referenced above. This is in addition to disclosing the most directly comparable measure for such periods determined in accordance with generally accepted accounting principles (GAAP). We believe that these non-GAAP financial measures provide useful information to investors because they provide information about the estimated financial performance of Molex’s ongoing business and provide for greater transparency of supplemental information used by management in its financial and operational decision-making. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

Molex Incorporated
Condensed Consolidated Balance Sheets
(in thousands)


	March 31,		June 30,
	2008		2007
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	453,854	$	378,361
Marketable securities		38,361		82,549
Accounts receivable, less allowances of $40,970 and $31,064, respectively		746,705		685,666
Inventories		457,974		392,680
Other current assets		57,766		51,571

Total current assets		1,754,660		1,590,827
Property, plant and equipment, net		1,191,337		1,121,369
Goodwill		373,451		334,791
Other assets		315,782		269,121

Total assets	$	3,635,230	$	3,316,108


LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payable	$	309,634	$	279,847
Accrued expenses		210,162		187,890
Other current liabilities		149,421		63,214

Total current liabilities		669,217		530,951
Other non-current liabilities		26,105		25,612
Accrued pension and postretirement benefits		118,890		108,693
Long-term debt		155,689		127,821

Total liabilities		969,901		793,077


Commitments and contingencies

Total stockholders’ equity		2,665,329		2,523,031

Total liabilities and stockholders’ equity	$	3,635,230	$	3,316,108

Molex Incorporated
Condensed Consolidated Statements of Income
(Unaudited)
(in thousands, except per share data)


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2008		2007		2008		2007
Net revenue	$	822,285	$	807,014	$	2,456,455	$	2,474,026
Cost of sales		567,824		556,026		1,712,729		1,695,120


Gross profit		254,461		250,988		743,726		778,906


Selling, general and administrative		167,639		162,471		493,973		496,463

Restructuring costs and asset impairments		6,399		—		16,286		—


Total operating expenses		174,038		162,471		510,259		496,463


Income from operations		80,423		88,517		233,467		282,443

Investment income		4,462		1,699		7,241		5,308
Interest income, net		2,044		2,080		6,964		6,169


Other income, net		6,506		3,779		14,205		11,477


Income before income taxes		86,929		92,296		247,672		293,920

Income taxes		36,623		26,978		84,846		85,874


Net income	$	50,306	$	65,318	$	162,826	$	208,046


Earnings per share:
Basic	$	0.28	$	0.36	$	0.90	$	1.13
Diluted	$	0.28	$	0.35	$	0.89	$	1.12

Dividends declared per share	$	0.1125	$	0.0750	$	0.3375	$	0.2250

Average common shares outstanding:
Basic		179,385		183,985		181,260		183,922
Diluted		180,086		185,271		182,156		185,591

Molex Incorporated
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(in thousands)


	Nine Months Ended
	March 31,
	2008			2007
Operating activities:
Net income	$	162,826		$	208,046
Add non-cash items included in net income:
Depreciation and amortization		184,675			177,138
Share-based compensation		18,539			19,616
Other non-cash items		3,568			4,763
Changes in assets and liabilities:
Accounts receivable		12,604			24,488
Inventories		(22,540	)		(29,724	)
Accounts payable		(6,179	)		(56,396	)
Other current assets and liabilities		8,915			(64,444	)
Other assets and liabilities		(9,551	)		(8,233	)

Cash provided from operating activities		352,857			275,254

Investing activities:
Capital expenditures		(163,440	)		(219,435	)
Proceeds from sales of property, plant and equipment		11,417			3,891
Proceeds from sales or maturities of marketable securities		843,493			4,449,264
Purchases of marketable securities		(798,921	)		(4,349,497	)
Acquisitions		(42,503	)		(237,207	)
Other investing activities		(9,733	)		3,575


Cash used for investing activities		(159,687	)		(349,409	)

Financing activities:
Proceeds from revolving credit facility		65,000			44,000
Payments on revolving credit facility		—			(44,000	)
Proceeds from issuance of long-term debt		—			131,045
Payments of long-term debt		(1,705	)		(26,570	)
Cash dividends paid		(54,557	)		(41,382	)
Exercise of stock options		8,534			7,967
Purchase of treasury stock		(166,199	)		(19,967	)
Other financing activities		(900	)		384


Cash (used for) provided by financing activities		(149,827	)		51,477

Effect of exchange rate changes on cash		32,150			9,437

Net increase (decrease) in cash and cash equivalents		75,493			(13,241	)
Cash and cash equivalents, beginning of period		378,361			332,815


Cash and cash equivalents, end of period	$	453,854		$	319,574