Flextronics International (FLEX) Message Board

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Technology Stocks : Flextronics International (FLEX)

FLEX 62.52

-2.3%

Oct 31 9:30 AM EDT

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To: Daryl Gresham who started this subject	1/24/2003 4:16:30 AM
From: Fuzzy	of 1422

Dow Jones Business News Flextronics' 3rd-Quarter Results Top Forecasts Thursday January 23, 4:35 pm ET SINGAPORE -- Flextronics International Ltd. posted better-than-expected results for its fiscal third quarter despite the tough economic climate. Flextronics also announced late Thursday that it is splitting the roles of chairman and chief executive "to enhance the corporate-governance standards of the company." ADVERTISEMENT For the quarter ended Dec. 31, the contract electronics manufacturer posted a net loss of $6.5 million, or a penny a share, compared with year-earlier net income of $82 million, or 16 cents a share. Revenue increased 12% to $3.85 billion from $3.45 billion. Excluding $67.1 million in restructuring charges and other one-time items, Flextronics said earnings would have been $66.2 million, or 13 cents a share, compared with year-earlier earnings excluding items of $85 million, or 17 cents a share. When the company released its second-quarter results in October, Flextronics said it expected third-quarter earnings of nine cents to 12 cents a share on revenue of $3.4 billion to $3.6 billion. In a prepared statement, Chief Executive Michael E. Marks said he was " particularly proud of our company's accomplishments this quarter."

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