Advertisement

News Wire

Flextronics Reports Q1

SINGAPORE — Flextronics (NASDAQ: FLEX) today announced results for its first quarter ended July 1, 2011 as follows:

First Quarter Results
Net sales for the first quarter ended July 1, 2011 increased $982 million or 15% to $7.5 billion compared to net sales for the quarter ended July 2, 2010 of $6.6 billion. Adjusted operating income and GAAP operating income were both up 4% and 5% respectively year over year. GAAP net income for the first quarter ended July 1, 2011 increased $14 million or approximately 12% to $132 million, compared to $118 million for the quarter ended July 2, 2010. Adjusted EPS and GAAP EPS increased 11% and 21% respectively from the prior year quarter.

“Every one of our four core business groups grew double digits year-over-year and our revenue marked the second highest June quarter in our history. We expect our revenue growth to continue next quarter,” said Mike McNamara, CEO of Flextronics. “This performance exemplifies Flextronics’ diversified business model and our broad based success across all the markets we participate in.”

Read the full press release.

{complink 2085|Flextronics Corp.}

0 comments on “Flextronics Reports Q1

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.