Net Sales increased 15% YoY for Flextronics

Adjusted operating income and GAAP operating income were both up 4% and 5% respectively year over year. GAAP net income for the first quarter ended July 1, 2011 increased USD 14 million or approximately 12% to USD 132 million, compared to USD 118 million for the quarter ended July 2, 2010. Adjusted EPS and GAAP EPS increased 11% and 21% respectively from the prior year quarter. "Every one of our four core business groups grew double digits year-over-year and our revenue marked the second highest June quarter in our history. We expect our revenue growth to continue next quarter," said Mike McNamara, CEO of Flextronics. "This performance exemplifies Flextronics' diversified business model and our broad based success across all the markets we participate in." Guidance For the second quarter ending September 30, 2011, revenue is expected to be in the range of USD 7.6-8.0 billion and adjusted EPS is expected to be in the range of USD 0.21-0.23 per share. GAAP earnings per share are expected to be lower than the guidance provided herein by approximately $0.04 per diluted share for quarterly intangible amortization and stock-based compensation expense.