Ad
Ad
Ad
Ad
Ad
Ad
Electronics Production | January 31, 2007

Flextronics broke record results,<br>strong mobile market driving force

Flextronics has announced its third quarter results. Net sales for the third quarter ended December 31, 2006 were a record high $5.4 billion, which represents an increase of $1.3 billion, or 31%, over the year ago quarter. The strong mobile market is said to be the drving force behind the growth.

According to Realtid.se, the strong mobile market is the driving force behind the results. According to Realtid.se, one third of Flextronics' revenue comes from this market. Excluding intangible amortization, stock-based compensation expense, restructuring and other charges, net income for the third quarter ended December 31, 2006 increased 15% to a record $136 million, or $0.23 per diluted share, compared to $118 million, or $0.20 per diluted share, in the year ago quarter. GAAP net income increased 183% to a December quarter record $119 million, or $0.20 per diluted share, compared to $42 million, or $0.07 per diluted share in the year ago quarter. "Last year we initiated our strategy to accelerate revenue and profit growth in our core EMS business, which is realizing success for our company and our customers. A central part of this strategy is the organization of our resources around a market focused approach, which allows us to better serve our customers," said Mike McNamara, chief executive officer of Flextronics. "We are pleased with the results to date." Click here to read the full report.
Ad
Ad
Load more news
August 21 2019 3:49 pm V14.1.4-1