Solectron Reports 75 Percent Sales Growth, 65 Percent Earnings Growth in Record Fourth Quarter
biz.yahoo.com
- Company Delivers 27 Cents Per Diluted Share in Quarter -
MILPITAS, Calif., Sept. 11 /CNW/ -- Solectron Corporation (NYSE: SLR - news), the world's leading provider of electronics manufacturing and supply-chain management services, today reported record fiscal fourth-quarter net income of $171 million, or 27 cents per diluted share, compared with year- earlier results of $103.5 million, or 17 cents per diluted share. Sales for the quarter ended Aug. 25 were a record $4.7 billion, a 75 percent increase from $2.7 billion in the year-earlier period.
For the fiscal year ended in August, net income increased 42 percent to $497.2 million from $350.3 million in fiscal 1999, while diluted earnings per share increased to 80 cents from 61 cents. The sum of the quarterly results for Solectron was 85 cents per share, excluding pre-acquisition results for pooling-of-interests completed during the year and the impact of non-recurring items.
Fourth-quarter and annual sales and earnings results were records for the company.
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"We continue to operate in a supply-constrained environment. While some commodities have become more available, others continue to be in short supply," Nishimura said. "We expect the industry to experience some degree of supply-demand imbalance into the second half of calendar 2001."
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