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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: davep who wrote (44457)	6/15/1999 1:43:00 AM
From: Jenna	Read Replies (1) \| Respond to of 120523

Solectron Reports Record Third Quarter FY99 Earnings Third Quarter Revenue Increases 68.3 Percent MILPITAS, Calif., June 14 /PRNewswire/ -- Solectron Corporation (NYSE: SLR - news), a worldwide provider of customized electronics manufacturing solutions to original equipment manufacturers (OEMs), today announced record sales for the third quarter of fiscal 1999, ended May 28, 1999. Revenues increased 68.3 percent from the third quarter of fiscal 1998 to US$2.2 billion for fiscal 1999. Net income for the quarter was up 53.8 percent from the third quarter of fiscal 1998 to US$75.7 million for fiscal 1999. Diluted earnings per share for the third quarter were US$0.29, compared to US$0.20 for the third quarter of last year. Solectron's third quarter operating margin was 5.3 percent and its annualized return on equity was 20.8 percent. Revenues for the first nine months of fiscal year 1999 increased 66.7 percent to US$6.0 billion compared to US$3.6 billion for the comparable fiscal 1998 period. Net income for the first nine months of fiscal 1999 increased 43.5 percent to US$205.1 million, compared with US$142.9 million last year. Diluted earnings per share for the first nine months of fiscal 1999 were US$0.80 compared to US$0.59 last year. ''I am pleased to report another record-breaking quarter, made possible by the stellar performance of our associates, combined with the accelerating shift toward outsourcing by our customers' requiring fully-integrated and optimized supply-chain solutions,'' said Dr. Ko Nishimura, Solectron's chairman, president and CEO. ''To further strengthen our supply-chain solutions we are continuing to invest in initiatives intended to globally integrate our design, product development, manufacturing, distribution and support services offerings to meet our customers' needs for a faster product time-to-market.''