Efficiencies gained following the transfer of operations of Methode Electronics from Scotland to Malta, which concluded in the fourth quarter of fiscal 2007, were said to be responsible last week for the improvement in the company’s operating results for the first quarter of fiscal year 2008.

Methode reported first quarter fiscal year 2008 net sales of $125.0 million and net income of $8.3 million, or $0.22 per share. This compares with net sales of $103.6 million and net income of $4.4 million, or $0.12 per share, in the first quarter fiscal year 2007.

Besides, as a percentage of net sales, selling and administrative expenses for the first quarter of fiscal 2008 decreased to 12.8 per cent, compared to 13.3 per cent in the first quarter of fiscal 2007. This decrease is also primarily due to overall higher sales and efficiencies gained from the transfer of operations from Scotland to Malta, the company said.