MarketWatch writes article about Flextronics profit down as sales fall:
By Maria Armental
Published: Oct 19, 2015 5:00 p.m. ET
By
MariaArmental
Flex’s second-quarter profit fell 11% as the contract manufacturer
reporter lower sales but higher margins.
Still, the company’s results were near the top end of its projections.
near its 52-week-high set in April.
Based in Singapore company but managed in San Jose, Calif., the former
Flextronics International Ltd. makes a variety of electronics and
industrial products, from Xbox videogame consoles for Microsoft Corp.
to power chargers and the Apple Watch for Apple Inc. and smartphones
for Lenovo Group Ltd.
Over all, for the quarter ended Sept. 25, Flex reported a profit of
$123 million, or 22 cents a share, compared with $138.9 million, or 23
cents a share, a year earlier. Excluding stock-based compensation and
other items, profit rose to 27 cents a share from 26 cents a year
earlier. Results for the latest period were based on 4.4% fewer
outstanding shares.
Net sales fell 3% to $6.32 billion.
MarketWatch Article Source Here.