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Methode Electronics (MEI -7.5%) FQ2 beat on revenue but missed EPS estimates due to higher...

Methode Electronics (MEI -7.5%) FQ2 beat on revenue but missed EPS estimates due to higher operational costs. Sales rose 7.6% Y/Y, but gross margins as a percentage of sales decreased to 15.3% from 19.3% due to higher R&D costs related to two North American automotive programs launching in FY12-13, plus increased costs related to vendor production and delivery issues.
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