ANAHEIM, CA – M-Flex posted fiscal fourth-quarter net sales of $226.7 million, up 13.8% year-over-year.

Fourth-quarter net income was $6.1 million, down 47.2% compared to the same period last year.

For the fiscal year ended Sept. 30, net sales increased 3.5% compared to 2009, to a record $791.3 million.  Fiscal 2010 net income totaled $29.8 million, down 35.4% year-over-year. This includes impairment and restructuring costs totaling approximately $11.4 million. 

The firm expects first-quarter revenue of $225 million to $245 million, and full-year 2011 revenue of $870 million to $950 million.

 “As a key supplier to leading smartphone and other consumer electronic device OEMs, we continued to see strong demand for our flex assemblies.  Fourth quarter net sales increased more than 25% on a sequential quarter basis and helped generate the highest full-year net sales in the history of the company,” said M-Flex CEO Reza Meshgin.

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