Flextronics 4Q Profit Jumps
Thursday April 26, 5:04 pm ET
Flextronics Fiscal 4th-Quarter and Yearly Income and Sales Climb
NEW YORK (AP) -- Flextronics International Ltd., a Singapore-based contract electronics manufacturer, said Thursday its fiscal fourth-quarter profit grew as sales increased.
For the quarter ended March 31, the company earned $120.6 million, or 20 cents per share, up from $42.3 million, or 7 cents per share, during the same period a year ago.
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Adjusted earnings, not including one-time items, rose to $121.9 million, or 20 cents a share, versus $98 million or 16 cents per share.
Revenue rose 33 percent to $4.68 billion from $3.53 billion.
Analysts, on average, were looking for earnings of 20 cents per share on sales of $4.82 billion, according to a poll by Thomson Financial.
For the full year, Flextronics earned $508.6 million, or 85 cents per share, up from $141.2 million, or 24 cents per share, a year earlier.
Adjusted earnings were $478.2 million, or 80 cents per share, up from adjusted earnings of $417.3 million, or 69 cents per share.
Fiscal year sales rose 23 percent to $18.85 billion from $15.29 billion. |
