Flextronics comment on Kodak
In response to a question posed at Flextronics' Q3 Earnings Call ,Flextronics CFO Paul Read said the company hasn't been heavily impacted by Kodak's bankruptcy.
Read said that the majority of Flextronic's dealings with Kodak are with their non- US subsidiaries.
“They’re not a very big customer of ours. They’re kind of down, I think, number 40-something in terms of the customer list. Round about $100 million of revenue for us. So nothing great. So our exposure isn’t big,” said Paul Read.
“When we looked at it this quarter we were kind of anticipating something and with them filing - for their US entities - chapter 11, our exposure is predominantly not with their US entity. 25% of our exposure is probably with their US entities, 75% is outside the US entity”.
“They want to have us keep producing this inventory", Read continued. "This is also inventory that’s more aligned with their non-US subsidiaries and so we anticipate having any deal with them where we can not have any exposure on the inventory side. So net-net it’s a small customer and negligible exposure that we have covered”.
“They’re not a very big customer of ours. They’re kind of down, I think, number 40-something in terms of the customer list. Round about $100 million of revenue for us. So nothing great. So our exposure isn’t big,” said Paul Read.
“When we looked at it this quarter we were kind of anticipating something and with them filing - for their US entities - chapter 11, our exposure is predominantly not with their US entity. 25% of our exposure is probably with their US entities, 75% is outside the US entity”.
“They want to have us keep producing this inventory", Read continued. "This is also inventory that’s more aligned with their non-US subsidiaries and so we anticipate having any deal with them where we can not have any exposure on the inventory side. So net-net it’s a small customer and negligible exposure that we have covered”.
Frequency Electronics buys Elcom Technologies
Frequency Electronics has completed the purchase of all the capital stock of Elcom Technologies.
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