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Electronics Production | September 30, 2004

Solectron reports better result

Solectron Corporation reported sales of $3.01 billion in the fourth quarter of fiscal 2004, up 23.4 percent from $2.44 billion in the fourth quarter of last year. Sales in the third quarter of 2004 were $3.04 billion.
Revenues of $3.01 billion decreased $26 million from the prior quarter and increased 23.4% from Q4 FY03. Gross margins improved to 5.4%, up from 5.2% in the prior quarter and up from 4.8% in the year-ago quarter. Operating expenses were 3.8% of revenues, compared to 3.4% in the prior quarter and 5.3% in Q4 FY03. Non-GAAP earnings* per share of $0.04, up from $0.01 per share in the prior quarter and $(0.06) per share in Q4 FY03.

Cash flow from operations of approximately $124 million. The company completed the sale of Force Computers and its interest in U.S. Robotics and announced a definitive agreement to sell its Microtechnology business.

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