flextronics intl ltd (FLEX) Key Developments
Flextronics International Ltd. Presents at The Goldman Sachs Technology & Internet Conference, Feb-11-2015 03:20 PM
Feb 4 15
Flextronics International Ltd. Presents at The Goldman Sachs Technology & Internet Conference, Feb-11-2015 03:20 PM. Venue: Palace Hotel, 2 New Montgomery Street, San Francisco, California, United States. Speakers: Christopher E. Collier, Chief Financial Officer.
Flextronics International Enters into Partnership with Green Change Networks
Feb 3 15
Flextronics International announced it entered into a partnership with Green Change Networks. As part of the manufacturing partnership, Flextronics will provide on-demand manufacturing of Green Charge's GreenStation intelligent energy storage system at its customer innovation center in Milpitas, Calif.
Flextronics International Ltd. Presents at Stifel, Nicolaus Technology, Internet & Media Conference, Feb-10-2015 04:10 PM
Jan 30 15
Flextronics International Ltd. Presents at Stifel, Nicolaus Technology, Internet & Media Conference, Feb-10-2015 04:10 PM. Venue: The Westin St. Francis, San Francisco, California, United States. Speakers: Christopher E. Collier, Chief Financial Officer.
Flextronics International Ltd. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended December 31, 2014; Provides Earnings Guidance for the Fourth Quarter Ending March 31, 2015
Jan 28 15
Flextronics International Ltd. announced unaudited consolidated earnings results for third quarter and nine months ended December 31, 2014. For the quarter, the company's net sales were $7,025,054,000 compared with $7,183,442,000 a year ago. Operating income was $192,664,000 compared with $174,043,000 a year ago. Net income was $152,899,000 or $0.26 per share compared with $145,157,000 or $0.23 per share a year ago. Non-GAAP operating income was $206,883,000 compared with $187,154,000 a year ago. Income before income taxes was $170,517,000 compared with $153,725,000 a year ago. Non-GAAP provision for income taxes was $17,842,000 compared with $8,568,000 a year ago. Non-GAAP net income was $174,939,000 or $0.30 per share compared with $163,843,000 or $0.26 per share a year ago. Adjusted operating income was $207,000 compared with $187,000 a year ago. For the three-month period ended December 31, 2014, Free Cash Flow was $337 million consisting of GAAP net cash flows from operating activities of $363 million less purchases of property and equipment net of dispositions of $26 million.
The company reported year-to-date free cash flow at $505 million.
For the fourth quarter ending March 31, 2015, revenue is expected to be in the range of $6.0 to $6.4 billion and adjusted EPS is expected to be in the range of $0.23 to $0.27 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. CapEx target for fiscal 2015 is in the range of $300 million. Free cash flow will be greater than $600 million for fiscal 2015.
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.