flextronics intl ltd (FLEX) Key Developments
Flextronics Opens New Development Facility in Detroit, Michigan
Jan 21 15
Flextronics International Ltd. has opened its new development facility in Detroit, Michigan. At its newly established location adjacent to Detroit, Flextronics' specialized automotive team is actively helping to further enable swift implementation of cutting edge smart, connected technologies and applications by collaborating with The Detroit Big Three and partnering with OEM customers and partners on projects at various stages of development enabling sketch to scale solutions offerings. The newly opened Flextronics facility will enable innovation and disruptive technology development that further supports customer's needs for differentiation. Services provided include product design and development, engineering, validation testing, development garage, prototyping and quality engineering.
Flextronics International Mulls Acquisitions
Nov 19 14
Flextronics International Ltd. (NasdaqGS:FLEX) is seeking acquisitions. Paul Humphries, President of Flextronics International said, "We are tending to look at small niche acquisitions with high levels of competence, so we're trying to pay, if you like, at value-based acquisitions and we have a hurdle rate that internally we have to meet before we are able to get agreement or get approval to make those acquisitions."
Flextronics International Ltd. Presents at Raymond James Systems, Semiconductors, Software and Supply Chain (S4) Conference, Dec-09-2014 02:25 PM
Nov 18 14
Flextronics International Ltd. Presents at Raymond James Systems, Semiconductors, Software and Supply Chain (S4) Conference, Dec-09-2014 02:25 PM. Venue: New York Marriott East Side Hotel, Manhattan, New York, United States.
Unilife Corporation and Flextronics Enter into Global Strategic Alliance
Nov 13 14
Unilife Corporation announced the signing of a Global Strategic Alliance agreement with Flextronics as its global strategic partner to further expand the production capacity and scale-up capability of Unilife's product portfolio. The Global Strategic Alliance Agreement between Unilife and Flextronics will support accelerating commercial demand from a multitude of pharmaceutical customers who are seeking to leverage Unilife's products and services to enhance and differentiate their injectable biologics, drugs and vaccines. In addition to Unilife fully utilizing its own FDA-registered manufacturing facilities in York, Pennsylvania, Flextronics will serve as a secondary source of supply to Unilife and its pharmaceutical customers.
Flextronics International Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended September 30, 2014; Provides Earnings Guidance for the Third Quarter Ending December 31, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2015
Oct 29 14
Flextronics International Ltd. reported unaudited consolidated earnings results for the second quarter ended September 30, 2014. For the quarter, net sales were $6,528,517,000 against $6,410,106,000 a year ago. Operating income was $172,491,000 against $149,923,000 a year ago. Income before income taxes was $154,337,000 against $128,604,000 a year ago. Net income was $138,903,000 against $118,205,000 a year ago. GAAP net income per share was $0.23 against $0.19 a year ago. Non-GAAP net income per share was $0.26 against $0.22 a year ago. Non-GAAP operating income was $183,410,000 against $158,640,000 a year ago. Non-GAAP net income was $156,877,000 against $134,311,000 a year ago. Cash flow from operations was $387 million. Capital expenditures were $65 million were lower than its depreciation for the quarter.
For the third quarter ending December 31, 2014, revenue is expected to be in the range of $6.4 to $6.8 billion and adjusted EPS is expected to be in the range of $0.24 to $0.28 per diluted share. GAAP earnings per share are expected to be lower than the guidance provided herein by approximately $0.04 per diluted share for intangible amortization and stock-based compensation expense.
For the fiscal 2015, the company believes that its income tax rate will remain at the high end of its 8% to 10% range absent any discrete items. The company expects that its CapEx investments will be lower than depreciation levels throughout fiscal 2015, and its capital investment target for fiscal 2015 remains in the range of $300 million to $350 million.