EX-99.2 3 d246976dex992.htm SLIDES OF MOLEX INCORPORATED Slides of Molex Incorporated
October 25, 2011
October 25, 2011
Exhibit 99.2
FY12 Q1 Conference Call

Page 1
Page 1
Forward-Looking Statement
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.  Words such as
“anticipates,” “expects,” “believes,” “intends,” “plans,” “projects,” “estimates,” “potential,” and similar
expressions are used to identify these forward-looking statements.  Forward-looking statements are
based on currently available information and include, among others, the discussion under “Outlook.” 
These statements are not guarantees of future performance and are subject to risks, uncertainties and
assumptions including 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; the risk that the value of our inventory may
decline; 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 availability of credit and general market liquidity; fluctuations
in currency exchange rates; natural disasters; the financial condition of our customers; labor cost
increases; and the ability to realize cost savings from cost reduction initiatives, the outcome of legal
proceedings and losses resulting from unauthorized activities in Molex Japan.
Other factors, risks and uncertainties are set forth in Item 1A “Risk Factors” of the Company’s Form
10-K for the year ended June 30, 2011, which is incorporated by reference and in other reports that
Molex files or furnishes with the Securities and Exchange Commission.  Forward-looking statements
are based upon assumptions as to future events that may not prove to be accurate.  Actual outcomes
and results may differ materially from what is expressed in these forward-looking statements.  As a
result, 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.

In
Molex
Incorporated’s
(“Molex”
or
the
“Company”)
conference
call
on
October
25,
2011
regarding
the
Company’s
financial
results
for
the
fiscal
quarter
and
the
following
slides,
Molex
may
refer
to
non-GAAP
financial
measures
to
describe
earnings
for
such
periods
excluding
the
items
referenced
in
the
relevant
slides
used
during
this
conference
call.
This
is
in
addition
to
disclosing
the
most
directly
comparable
measure
for
such
periods
determined
in
accordance
with
generally
accepted
accounting
principles,
or
GAAP.
Molex
believes
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.
Investors
are
encouraged
to
review
the
relevant
slides
reconciling
the
non-GAAP
financial
measures
intended
to
be
used
in
the
conference
call
to
the
most
comparable
GAAP
measure.
Page 2
Page 2

Record revenue and EPS
–
Set new highs despite difficult operating
environment
Expanded Margins
–
Good cost control
–
Recovery in Japan underway
Strong free cash flow
–
Committed to dividend strategy
Continue to see design-in opportunities
–
Long term themes intact
–
New product introductions continue
Page 3
Page 3
FY12 Q1 Summary

Record revenue
B-T-B Ratio                1.07                     .97            
.97                       1.01                       .99                       .97
Page 4
Page 4
Q4 10
Q1 11
Q2 11
Q3 11
Q4 11
Q1 12
$847
$898
$901
$875
$914
$936
$910
$868
$872
$880
$906
$910
Revenue
Orders
Revenue / Order Trend

Page 5
Page 5
Change in Revenue / Orders
By Industry –
September Quarter
REVENUE
ORDERS
Sequential
Change
YOY
Change
%
Total
Sequential
Change
YOY
Change
%
Total
Automotive
-
17%
15%
8%
23%
16%
Infotech
6%
20%
26%
-
18%
26%
Telecom
(2)%
(5)%
23%
(4)%
(6)%
23%
Consumer
Elect.
14%
(2)%
20%
13%
1%
20%
Industrial
(6)%
(4)%
13%
(13)%
(8)%
12%
Medical /
Military
(6)%
(8)%
3%
(5)%
(7)%
3%
TOTAL
2%
4%
100%
-
5%
100%

Sequential
YOY
% of Total
OEM
9%
4%
54%
Distribution
(13)%
(5)%
24%
EMS
(3)%
22%
22%
TOTAL
-
5%
100%
Sequential
YOY
% of Total
Americas
(8)%
5%
23%
Europe
(12)%
3%
13%
APN
22%
2%
22%
APS
-
8%
42%
TOTAL
-
5%
100%
Page 6
Page 6
Orders by Channel and Geography
-
September Quarter

Quarter Ended
Sep 2011
Jun 2011
Sep 2010
Net revenue
$936.0
$913.7
$897.7
Gross margin
31.3%
30.8%
30.6%
SG&A %
18.1%
18.4%
17.5%
Unauthorized activities in Japan
$2.9
$3.4
$5.5
Income from operations
$120.6
$110.1
$112.5
Interest (expense) income, net
$(1.4)
$(0.8)
$(1.3)
Other income (expense)
$0.3
$(0.4)
$(0.4)
Effective tax rate
32.6%
29.1%
32.2%
Net income
$80.5
$77.3
$75.1
Earnings per diluted share
$0.46
$0.44
$0.43
(US$ in millions, except per-share data)
Page 7
Page 7
Financial Summary

Quarter Ended
Sep 2011
Jun 2011
Sep 2010
Cash and marketable securities
$568.5
$546.5
$358.9
Total debt*
$302.8
$338.7
$285.9
Net cash
$265.7
$207.8
$73.0
Receivable days outstanding
69 days
72 days
76 days
Inventory days outstanding
84 days
84 days
85 days
Capital expenditures
$42.8
$65.3
$71.2
Research and development
$43.9
$43.8
$40.5
Cash flow from operations
$150.5
$139.2
$62.6
(US$ in millions)
*Total debt equals long-term debt plus current portion of long-term
debt and short-term loans, less current portion of capital leases   
Page 8
Page 8
Balance Sheet and Operating Metrics

Trailing 12-months
Earning our Cost of Capital
*See GAAP to non-GAAP reconciliation
Operating
income
excluding
restructuring
and
special
charges
Fixed
assets
+
Inventory
+
A/R
–
A/P
Page 9
Page 9
Return on Net Assets Trend*
Q1 11
Q2 11
Q3 11
Q4 11
Q1 12
19.2%
21.1%
21.4%
21.6%
21.3%

December Fiscal Quarter
Revenue
$870 to $910 million
EPS
$0.37 to $0.43
Assumes
–
30% to 32% effective tax rate
–
Constant foreign exchange rates and
commodity prices
–
EPS includes $0.01 for Japan litigation
Page 10
Page 10
Outlook

Quarter Ended
Sep
2011
Jun
2011
Mar
2011
Dec
2010
Sep
2010
Income from
operations
$120,581
$110,122
$98,311
$109,288
$112,478
Unauthorized
activities in Japan
2,922
3,366
2,855
2,713
5,542
Non-GAAP income
from operations
$123,503
$113,488
$101,166
$112,001
$118,020
(US$ in thousands)
Non-GAAP income from operations is a non-GAAP financial measure.  We refer to non-GAAP income from
operations to describe income from operations excluding the items referenced above.  We believe that non-
GAAP income from operations provides useful information to investors because it provides information about
the estimated financial performance of Molex’s ongoing business.  Non-GAAP income from operations is used
by management in its financial and operational decision-making and evaluation of overall operating
performance and segment level core operating performance.  Non-GAAP income from operations may be
different from similar measures used by other companies.
Non-GAAP Measure