Electronics Production |
Flextronics profit fell 57%
Flextronics International has reported its third- quarter results. Profit fell 57% from a year ago due to more charges coming from restructuring efforts as well as a decline in overall sales.
Flextronics earned $42 million, compared with $98.7 million a year ago. Revenue fell 2%, to $4.19 billion from $4.27 billion.
Sales were affected by the lack of revenue from Flextronics Network Services, which the company sold last year. If Flextronics had kept the network division, sales would have risen 3% from the prior year.
Update on Nortel Transaction
The transfer of Nortel's manufacturing operation in Calgary has been rescheduled from the March 2006 quarter to the June 2006 quarter to allow for the completion of several major information systems changes that will simplify and improve the quality of the transition as well as its operations after the transition.
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