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Solectron Reports Strong Third Quarter Results
June 22, 2004 |Estimated reading time: Less than a minute
Milpitas, Calif. — Solectron Corp. has reported sales of $3 billion in the third quarter of fiscal 2004, up 5.3 percent from $2.9 billion in the second quarter and up 29 percent from $2.4 billion in the third quarter of last year.
The company reported a GAAP net loss from continuing operations in the third quarter of $65 million, or 8 cents per share, compared with a GAAP net loss from continuing operations of $2.7 billion, or $3.24 per share, in the year-earlier quarter. Excluding $6 million in restructuring and impairment charges and $72 million in expenses related to the early settlement of its Adjustable Conversion-Rate Equity Security Units (ACES), Solectron had pro forma net income from continuing operations of $13 million, or 1 cent per share, in the third quarter of fiscal 2004.
Solectron Corp. provides a full range of global manufacturing and integrated supply chain management services to the world's premier high-tech electronics companies. For more information, visit www.solectron.com.