SAN JOSE -- Flextronics last night announced fourth-quarter net sales of $5.94 billion, up 6.5% year-over-year, and down 10.6% sequentially. 

GAAP net income was $60 million, compared to a loss of $240 million in the prior year quarter.

 

The company, the world's second largest contract assembler, is also the parent of Top 10 printed circuit board fabricator Multek, but did not break out sales by division.

“We experienced less March quarter seasonality this year than we have historically, despite more component shortages than anticipated. More importantly, we remain very confident in our positioning entering fiscal 2011, with a strong Q1 start, as all our market segments are forecasted to show sequential growth,” said CEO Mike McNamara.

“This marks the seventh consecutive quarter of positive cash flow generation. For the fiscal year, Flextronics generated $800 million in cash flow from operations, which includes the absorption of $190 million in cash restructuring charges,” said CFO Paul Read.

For the first quarter ending July 2, revenue is expected to be in the range of $6.1 billion to $6.6 billion.