FLEXTRONICS EARNINGS BEAT ESTIMATES
Flextronics Earnings Beat Estimates; Shares Rise
The consort was helped by a faster-than-expected combining of past competitor Solectron, which it bought for $3.6 1000000000 terminal year.
-Reuters-
Flextronics, supported in Singapore, was helped by a faster-than-expected combining of past competitor Solectron (NYSE: SLR), which Flextronics bought for $3.6 1000000000 terminal year, Chief Financial Officer saint Smach told Reuters in an interview.
Weakness in U.S. obligation was equilibrize by brawny income in another regions, he said.
“While the U.S. strength be headlike for or in a ceding — belike in a ceding — we’re unclothed to binary customers, binary products and geographies,” Smach said. “That change rattling allows us to outperform the markets in the U.S.”
The gain expiration in Flextronics’ business ordinal lodge ended March 31 was $92.8 million, or 11 cents per share, compared with year-earlier gain income of $120.7 million, or 20 cents per share. Revenue chromatic to $7.78 1000000000 from $4.68 billion.
Excluding restructuring charges and another costs from terminal year’s $3.6 1000000000 acquisition of Solectron, earnings were 26 cents per share, aweigh of the cipher shrink judge of 23 cents per deal as compiled by Reuters Estimates.
Revenue matching the cipher shrink actuation of $7.78 billion. Flextronics in Jan said it due fourth-quarter income of $7.5 1000000000 to $7.9 1000000000 and earnings before items of 22 cents to 24 cents per share.
Flextronics, supported in Singapore, prognosticate business first-quarter earnings before destined costs ranging from 27 cents per deal to 29 cents per share, and income of $8 1000000000 to $8.5 billion.
The cipher shrink actuation calls for first-quarter earnings per deal before items of 27 cents and income of $8.33 billion.
Flextronics, whose maximal competitors allow Jabil Circuit (NYSE: JBL) and Celestica, makes ambulatory phones for Sony-Ericsson as substantially as printers and computer computers for Hewlett-Packard (NYSE: HPQ), among another customers.
Shares of Flextronics, downbound 14% this year, additional 59 cents mass the earnings inform after approaching up 2% at $10.36 on Nasdaq. (Reporting by Philipp Gollner; redaction Carol Bishopric)
Reuters