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Electronics Production | October 27, 2004

Flextronics has profit

Flextronics International Ltd makes a quarterly profit versus a year earlier loss but a weak forecast due to weakening consumer and communications demand.
Flextronics posted net income for its fiscal second quarter ended September 30 of $92.6 million, compared with a year-ago net loss including items of $100.1 million. Revenue rose to $4.14 billion from $3.50 billion, Yahoo! Finance reported.

Michael Marks, Flextronics' CEO, said that somewhat slower demand in consumer and communications end markets contributed to the weaker-than-expected forecast. This may be a result of some inventory reductions or it could be nothing more than some caution based on oil prices, the election and so on. "In either case, we see that as not that big a deal, at least for Flextronics," he added, saying March quarter sales looked solid.
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