MILPITAS, CA – Flextronics reported first-quarter net sales were $5.79 billion, down 3.2% compared to the same period last year.

Analysts estimated revenues of $5.45 billion for the quarter.

The world's second-largest contract printed circuit board fabricator and assembly company reported first-quarter net income of $59.2 million, down 53.9% year-over-year.

For the second quarter, the electronics manufacturer expects revenues of $6.1 billion to $6.4 billion.