MOLEX INC

CIK:0000067472|SEC Filings

Condensed Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Net revenue	$ 936,367	$ 916,921
Cost of sales	633,816	648,504
Gross profit	302,551	268,417
Selling, general and administrative	179,429	163,121
Unauthorized activities in Japan	0	2,561
Total operating expenses	179,429	165,682
Income from operations	123,122	102,735
Interest expense, net	(1,827)	(810)
Other (expense) income, net	(2,918)	1,196
Total other (expense) income, net	(4,745)	386
Income before income taxes	118,377	103,121
Income taxes	34,298	31,807
Net income	$ 84,079	$ 71,314
Earnings per share:
Basic	$ 0.47	$ 0.40
Diluted	$ 0.46	$ 0.40
Dividends declared per share	$ 0.24	$ 0.22
Average common shares outstanding:
Basic	178,247	176,621
Diluted	181,545	178,564

Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Operating activities:
Net income	$ 84,079	$ 71,314
Add (deduct) non-cash items included in net income:
Depreciation and amortization	57,245	57,742
Share-based compensation	6,195	6,160
Other non-cash items	(206)	3,767
Changes in assets and liabilities:
Accounts receivable	(14,881)	(7,903)
Inventories	(32,900)	(28,902)
Accounts payable	(1,359)	49,569
Other current assets and liabilities	10,521	4,326
Other assets and liabilities	(9,843)	11,331
Cash provided from operating activities	98,851	167,404
Investing activities:
Capital expenditures	(47,018)	(69,413)
Acquisitions		0
Proceeds from sales of property, plant and equipment	131	1,914
Proceeds from sales or maturities of marketable securities	1,789	3,168
Purchases of marketable securities	(2,574)	(4,099)
Insurance proceeds and other investing activities	(920)	9,722
Cash used for investing activities	(111,585)	(58,708)
Financing activities:
Proceeds from revolving credit facility, short-term loans and debt	63,510	10,000
Payments on revolving credit facility, short-term loans and debt	70,557	41,611
Cash dividends paid	(42,723)	(38,827)
Exercise of stock options	7,680	1,715
Other financing activities	(1,112)	(1,026)
Cash used for financing activities	(43,202)	(69,749)
Effect of exchange rate changes on cash	9,531	9,608
Net (decrease) increase in cash and cash equivalents	(46,405)	48,555
Cash and cash equivalents, beginning of period	711,561	637,417
Cash and cash equivalents, end of period	$ 665,156	$ 685,972

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2013	Jun. 30, 2013
Current assets:
Cash and cash equivalents	$ 665,156	$ 711,561
Marketable securities	11,083	10,378
Accounts receivable, less allowances of $41,376 and $40,855, respectively	736,983	703,434
Inventories	580,481	531,810
Deferred income taxes	54,100	54,163
Other current assets	39,901	32,538
Total current assets	2,087,704	2,043,884
Property, plant and equipment, net	1,128,494	1,114,092
Goodwill	231,050	191,053
Other assets	187,034	185,282
Total assets	3,686,017	3,586,854
Current liabilities:
Short-term borrowings and current portion of long-term debt	42,458	54,283
Accounts payable	354,565	347,700
Accrued expenses:
Salaries, commissions and bonuses	123,729	113,433
Other	144,866	127,652
Income taxes payable	20,833	15,966
Total current liabilities	686,451	659,034
Other non-current liabilities	20,702	18,382
Accrued pension and other postretirement benefits	74,431	76,275
Long-term debt	315,000	310,000
Total liabilities	1,096,584	1,063,691
Commitments and contingencies
Stockholders’ equity:
Common stock	11,482	11,451
Paid-in capital	759,043	753,954
Retained earnings	2,665,101	2,623,868
Treasury stock	(1,122,464)	(1,119,358)
Accumulated other comprehensive income	276,271	253,248
Total stockholders’ equity	2,589,433	2,523,163
Total liabilities and stockholders’ equity	3,686,017	3,586,854
Non-current deferred income taxes	$ 51,735	$ 52,543