Flextronics fiscal 2015 - keeps on trucking

Flextronics net sales for the fourth quarter were just under USD 6.0 billion, slightly below its previously provided revenue guidance of USD 6.0 billion to USD 6.4 billion. Adjusted operating income only decreased USD 4.0 million compared to the same quarter last year with operating margin improvement of 30 basis points to 3.0% from 2.7%. Flextronics adjusted income grew 8% to USD 157 million for the fourth quarter. Fiscal Year 2015 Results of Operations Flextronics net sales for the fiscal year were USD 26.1 billion, flat versus the prior year. Fiscal year 2015 adjusted operating income increased 13% to USD 751 million from USD 665 million in the prior fiscal year. "Fiscal 2015 underscored our company's ability to deliver on our commitments through steady execution which resulted in an increased adjusted operating income of 13% year-over-year and an all-time record adjusted EPS of USD 1.08, up 21% versus the prior year," said Mike McNamara, chief executive officer at Flextronics. "We continue to use our strong cash flow generation to consistently return value to our shareholders through repurchasing our shares," said Chris Collier, chief financial officer at Flextronics. "For fiscal 2015 we spent USD 416 million buying back almost 7% of our shares, representing an allocation of 75% of our fiscal 2015 free cash flow." ----- Images: © Flextronics