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Flextronics Posts Q1 Net Sales Down 20%

Published: 25 July 2012
 by Staff

SINGAPORE – Flextronics reported first-quarter net sales of $6 billion, down 20% year-over-year.

 

For the period ended June 29, GAAP net income was $137 million, up 1% compared to the same quarter in 2011.

“Despite the challenging economic environment, we achieved our targeted operating margin, and our adjusted EPS improved 10% compared to the same quarter last year,” said CEO Mike McNamara. 

Flextronics is the parent company of Multek, the world's 16th largest printed circuit board fabricator according to the upcoming NTI 100 from Dr. Hayao Nakahara.

For the second quarter, the electronics manufacturing services firm expects revenue in the range of $5.9 billion and $6.3 billion.

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