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Flextronics Announces Second Quarter Record Results

Record Quarterly Net Sales up 18% to $5.6 Billion; Record Quarterly Adjusted Net Income up 25% to $146 Million; Record Quarterly Adjusted EPS

of $0.24

SINGAPORE, Oct. 23 /PRNewswire-FirstCall/ -- Flextronics (Nasdaq: FLEX) today announced results for its second quarter ended September 28, 2007 as follows:

(US$ in millions, except EPS)

Three Month Periods Ended Six Month Periods Ended

September September September September

28, 2007 29, 2006 28, 2007 29, 2006

Net sales $5,557 $4,702 $10,714 $8,761

GAAP operating

income $161 $29 $295 $146

Adjusted operating

income (1) $172 $144 $325 $267

GAAP net income $121 $185 $228 $269

Adjusted net

income (1) $146 $117 $280 $220

Diluted GAAP EPS $0.20 $0.31 $0.37 $0.46

Adjusted EPS (1) $0.24 $0.20 $0.46 $0.38

(1) A reconciliation of non-GAAP financial measures to GAAP financial

measures is presented in Schedule II attached

to this press release.

Record Second Quarter Results

Net sales increased from the year ago quarter by $855 million, or 18%, to $5.6 billion in the second quarter ended September 28, 2007, which is at the high end of the Company's previously provided revenue guidance of $5.3-$5.6 billion. For the second quarter ended September 28, 2007, adjusted net income incre

SOURCE Flextronics
Copyright©2007 PR Newswire.
All rights reserved

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