March 16, 1999
Solectron's Profit Rises 34%,
Results Aided by Strong Sales
By SCOTT THURM
Staff Reporter of THE WALL STREET JOURNAL
Solectron Corp. said fiscal second-quarter earnings rose 34% due to strong sales of personal computers and demand for mobile phones.
Solectron, the world's largest contract-electronics maker, reported net income of $65.5 million, or 26 cents a diluted share, for the period ended Feb. 26, compared with $48.8 million, or 20 cents a share, a year earlier. Earnings met analysts' expectations, according to First Call. The per-share figures reflect a 2-for-1 stock split Feb. 24.
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Solectron is a powerful behind-the-scenes force in electronics, assembling products and components for companies such as Hewlett-Packard Co., International Business Machines Corp. and Cisco Systems Inc. As more brand-name companies leave manufacturing, Solectron is expanding rapidly around the globe. So far this month, Solectron opened an expanded factory in Brazil and announced plans to expand factories in North Carolina and South Carolina.
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If HP and IBM are doing well, is Dell still doing 3.5 times better? ;-) |
