Flextronics net income down 35% in Q2

Flextronics International Ltd. announced that its second quarter net earnings of $120.94 million, compared to $184.87 million in the same quarter of last year. Adjusted net income for the quarter was $146.09 million compared to $116.7 in the year ago quarter. Operating income for the quarter was $161 million, compared to $29 million in the year ago quarter. Adjusted Operating income for the second quarter was $172 million, up from $144 million in the prior year quarter. Net sales for the quarter rose to $5.557 billion from $4.402 billion in the prior year quarter. Eighteen analysts had consensus revenue estimate of $5.47 billion for the quarter.