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Solectron Improves Cash Flow, Reduces Expense in Meeting Second Quarter Guidance
March 24, 2003 |Estimated reading time: Less than a minute
Milpitas, Calif. -- Solectron Corp. has reported fiscal second-quarter sales of $2.8 billion, in line with the company's guidance for sales of $2.8 to $3 billion.
That compares with sales of $3 billion in the same quarter last year and $3.1 billion in the first quarter of fiscal 2003.
In the quarter ended February 28, the company recorded a net loss of $111 million, or 13 cents per diluted share, compared with a net loss of $71 million, or 9 cents per diluted share, in the previous quarter and a net loss of $126 million, or 15 cents per diluted share, in the second quarter of last year.
The company's third quarter results will be announced Thursday, June 19.
Solectron Corp. is a leading provider of electronics manufacturing and supply-chain management services. For more information, visit www.solectron.com.