* Q4 EPS ex items 16 cents/share vs consensus 15 cents
* Q4 revenue up 6 pct to $5.9 bln
* Sees Q1 revenue, profit in line with Wall Street
* Shares fall 4 pct after hours
(Adds outlook, financial details)
SEATTLE, April 27 (BestGrowthStock) – Flextronics International Ltd
(FLEX.O: ) reported a better-than-expected quarterly profit
against a large year-ago loss on Tuesday, helped by an increase
in sales of electronics it manufactures for other technology
firms.
The Singapore-based company forecast revenue and profit for
the current quarter broadly in line with Wall Street estimates,
dashing more optimistic hopes for a sharp uptick in technology
spending, sending its shares down 4 percent after hours.
Flextronics reported fiscal fourth-quarter profit (Read more your timing to make a profit.) of $60
million, or 7 cents per share, compared with a loss of $249
million, or 31 cents per share, in the year-ago quarter.
Excluding some items, it earned 16 cents per share.
Analysts on average were expecting 15 cents per share,
according to data from Thomson Reuters I/B/E/S.
Sales rose 6 percent to $5.9 billion. Analysts, on average,
had expected $6 billion.
The company, which makes devices for Microsoft Corp
(MSFT.O: ), Cisco Systems Inc (CSCO.O: ), Hewlett-Packard Co
(HPQ.N: ) and others, forecast earnings excluding some items of
16 to 19 cents per share for its fiscal first quarter. Analysts
are expecting 16 cents, on average.
It forecast revenue of $6.1 billion to $6.6 billion.
Analysts are expecting $6.3 billion, on average.
Flextronics shares were down 4.2 percent in extended
trading, at $7.66, after closing at $7.94 on the Nasdaq.
Investment Basics
(Reporting by Bill Rigby; Editing by Richard Chang and Matthew
Lewis)
UPDATE 2-Flextronics reports profit, shares slip
