UPDATE 2-Flextronics profit up, shares slip after hours

* Q3 EPS ex items 17 cents/share vs consensus 15 cents

* Sees fiscal Q4 profit, sales equal to or above consensus

* Shares fall 7 percent after close

(Adds share price)

SEATTLE, Jan 27 (BestGrowthStock) – Flextronics International Ltd
(FLEX.O: ) reported on Wednesday a four-fold increase in
quarterly profit and forecast current quarter earnings equal to
or above Wall Street estimates on strong demand for the
electronics manufacturer’s products and improving margins.

But its shares fell 7 percent after hours, all but wiping
out the 8 percent gain in regular trading on Nasdaq.

Singapore-based Flextronics reported net profit of $93
million, or 11 cents per share, for its fiscal third quarter,
compared with $20 million, or 2 cents per share, in the
year-ago quarter.

Excluding some items, it reported earnings of 17 cents per
share. Wall Street was expecting 15 cents per share, according
to data from Thomson Reuters I/B/E/S.

Sales rose 12 percent to $6.6 billion. Analysts expected
$6.3 billion, on average.

The company, which makes products for technology
heavyweights such as International Business Machines Corp
(IBM.N: ), Cisco Systems Inc (CSCO.O: ) and others, forecast
earnings excluding some items of 13 cents to 16 cents per share
for its fourth quarter. Analysts are expecting 13 cents, on
average. It forecast revenue of $5.8 billion to $6.2 billion.
Analysts are expecting $5.8 billion, on average.

Flextronics shares fell to $6.60 after hours, after closing
at $7.10 in regular Nasdaq trading.

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(Reporting by Bill Rigby; editing by Andre Grenon)

UPDATE 2-Flextronics profit up, shares slip after hours