© Electronics Production | January 31, 2014

Flextronics beats 3Q guidance

Net sales for the third quarter ended December 31, 2013 were USD 7.2 billion, higher than the company's revenue guidance of USD 6.5 billion to USD 6.9 billion.
Flextronics adjusted operating income increased USD 28 million or 18% sequentially to USD 187 million. GAAP operating income of USD 174 million increased USD 24 million from USD 150 million in the prior quarter.

"We continue to generate strong free cash flow. During the quarter, we generated over USD 760 million of cash from operations which drove USD 614 million in free cash flow," said Chris Collier, chief financial officer of Flextronics. "We repurchased nearly six million shares during the quarter, bringing our year-to-date stock repurchases to USD 363 million."

"We delivered strong sequential growth in revenue, operating profit dollars, net income, free cash flow, and EPS, and we remain focused on building the most powerful end-to-end supply chain solutions company in the world for the industries we serve," said Mike McNamara, chief executive officer of Flextronics.


For the fourth quarter ending March 31, 2014, revenue is expected to be in the range of USD 5.9 billion to USD 6.3 billion.

Image: © Flextronics


Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
July 18 2018 5:55 pm V10.0.0-2