Computeruser.com
Latest News

Flextronics Reports Strong Third Quarter Results

SINGAPORE Jan. 20, 2011 December 31, 2010

(US$ in millions, except EPS)

Three Month Periods Ended

December 31,

December 31,

Y/Y

2010

2009

Growth

Net sales

$              7,833

$              6,556

19%

Adjusted operating income (1)

$                 232

$                 189

23%

GAAP operating income

$                 219

$                 167

31%

Adjusted net income (1)

$                 193

$                 138

40%

GAAP net income

$                 198

$                   93

113%

Adjusted EPS (1)

$                0.25

$                0.17

47%

GAAP EPS

$                0.26

$                0.11

136%

(1) An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures   

      is presented in Schedule II attached to this press release.   

Third Quarter Results

December 31, 2010 $7.8 billion December 31, 2009 $6.6 billion $43 million $232 million $189 million December 31, 2010 $193 million $55 million $0.08 $0.25 $138 million $0.17

Mike McNamara $7.8 billion

Guidance

March 31, 2011 $7.1 billion to $7.4 billion $0.21 to $0.23

$0.04

Conference Calls and Web Casts

2:00 PM (PT) 5:00 PM (ET) December 31, 2010

www.flextronics.com

http://www.microsoft.com/windows/windowsmedia/download/default.asp

About Flextronics

Singapore www.flextronics.com

Asia

  SCHEDULE I

FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

Three Month Periods Ended

December 31,

2010

December 31,

2009

GAAP:

Net sales

$       7,832,856

$       6,556,137

Cost of sales

7,399,280

6,173,461

Restructuring charges

9,624

     Gross profit

433,576

373,052

Selling, general and administrative expenses

215,070

205,614

Restructuring charges

162

     Operating income

218,506

167,276

Intangible amortization

16,571

21,440

Interest and other expense, net

24,082

40,555

     Income before income taxes

177,853

105,281

Provision for income taxes

(20,437)

12,411

     Net income

$          198,290

$            92,870

EPS:  

GAAP

$                0.26

$                0.11

Non-GAAP

$                0.25

$                0.17

Diluted Shares used in computing per share amounts

776,595

825,545

See Schedule II for the reconciliation of GAAP to non-GAAP financial measures.  See the accompanying notes on Schedule IV attached to this press release.

SCHEDULE II

FLEXTRONICS INTERNATIONAL LTD. AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1)

(In thousands, except per share amounts)

(unaudited)

Three Month Periods Ended

December 31,
2010

% of
Sales

December 31,
2009

% of
Sales

Net Sales

$     7,832,856

$     6,556,137

GAAP gross profit

$        433,576

5.5%

$        373,052

5.7%

    Stock-based compensation expense

2,553

2,733

    Distressed customer charges

(2)

(26,439)

    Restructuring charges

(3)

9,624

Non-GAAP gross profit

$        436,129

5.6%

$        358,970

5.5%

GAAP SG&A Expenses

$        215,070

2.7%

$        205,614

3.1%

    Stock-based compensation expense

11,265

11,381

    Distressed customer charges

(2)

24,093

Non-GAAP SG&A Expenses

$        203,805

2.6%

$        170,140

2.6%

GAAP operating income

$        218,506

2.8%

$        167,276

2.6%

    Stock-based compensation expense

13,818

14,114

    Distressed customer charges

(2)

(2,346)

    Restructuring

(3)

9,786

Non-GAAP operating income

$        232,324

3.0%

$        188,830

2.9%

GAAP provision for income taxes

$        (20,437)

-0.3%

$          12,411

0.2%

    Restructuring charges

130

    Settlement of tax contingencies

(4)

34,715

    Intangible amortization

1,340

1,661

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test