Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Flextronics International (FLEX) -- Ignore unavailable to you. Want to Upgrade?

To: 18acastra who wrote (655)	4/23/1998 4:56:00 PM
From: Marantz	Respond to of 1422

Flextronics International Announces 92% Revenue Growth SAN JOSE, Calif., April 23 /PRNewswire/ -- Flextronics International Ltd. (Nasdaq: FLEXF - news), a global full-service supplier of innovative design, engineering and manufacturing solutions, today announced its 1998 fiscal year and fourth quarter results for the period ending March 31, 1998. Net sales for the fourth quarter were $331.1 million, up from $295.0 million the prior quarter and up 92% from $172.2 million, in the quarter ended March 31, 1997. Net income before one time charges was $10.9 million, or $0.53 per share on 20.8 million fully diluted shares outstanding, compared to $7.5 million, or $0.43 per share on 17.5 million shares outstanding, in the same period a year ago. In addition, the Company incurred one-time charges associated with acquisitions and consolidation of UK operations that occurred during the quarter, amounting to $10.1 million net of taxes. For fiscal year 1998, Flextronics had record revenues of $1.1 billion, an increase of 74% over the prior fiscal year. Net income before one time charges was $33.8 million, an increase of 63%, and fully diluted earnings per share was $1.77, an improvement of 49%. ''It has been a very exciting year for Flextronics,'' said Michael Marks, Chairman and CEO of Flextronics. ''We are in a period of rapid growth. Over the past year we expanded our global service offering and increased worldwide capacity, in terms of space and people, to meet our multinational customers requirements for the next few years.'' What a relief, eh? Marantz