Flex Posts 3Q FY2016 Revenue of $6.8B


Reading time ( words)

Flex, a leading sketch-to-scale solutions company that designs and builds intelligent products for a connected world, has announced results for its third quarter ended December 31, 2015.

Flex's net sales for the third quarter ended December 31, 2015 were approximately $6.8 billion, at the high end of its previously provided revenue guidance range of $6.2 billion to $6.8 billion. The company's adjusted earnings per diluted share of $0.35 was above its previously provided guidance range of $0.28 to $0.34 and represents the all - time highest quarterly adjusted EPS for the company.
Third quarter adjusted operating income increased 20% sequentially, and 14% year-over-year, to $236 million and was above the guidance range of $195 to $235 million. Adjusted operating margin expanded 40 basis points sequentially, and 60 basis points year-over-year, to 3.5%.

"We continue to position our company as a leader in the IoT space, and our third quarter demonstrated sequential growth across all four of our business groups, resulting from new programs and an improving engagement model," said Mike McNamara, chief executive officer at Flex. "Operating margins improved both sequentially and year-over-year, a testament to the stronger value proposition we are delivering to our customers.

"Our adjusted earnings per diluted share were $0.35 this quarter, representing an all-time high for the Company, and we generated $278 million in cash flow from operations and $158 million in free cash flow during the quarter," said Chris Collier, chief financial officer at Flex. "Our consistent free cash flow generation reflects our strong discipline and execution and enables our consistent stock repurchase."

For the fourth quarter ending March 31, 2016, revenue is expected to be in the range of $5.5 to $6.1 billion and adjusted EPS is expected to be in the range of $0.25 to $0.31 per diluted share.

Share

Print


Suggested Items

Selecting the Proper Flex Coverlayer Material

09/06/2019 | Dave Lackey, American Standard Circuits
Coverlayers are polymer materials used to cover and protect the copper traces of the flex circuit product. There are a number of different options available for protecting the circuits, and they serve different design requirements in terms of cost, performance, and flexural endurance optimization. When specifying the choice, it is critical to call out not just the type of coverlayer material but also the thickness requirement. This can be very important in certain types of constructions, especially when a flex circuit will experience dynamic flexing during use.

Laserssel Brings High-speed Soldering to New Application Areas

06/10/2019 | Barry Matties, I-Connect007
In this interview with I-Connect007, Denis Barbini, general manager of Laserssel, talks about the company's new laser-selective reflow solution aimed at reducing a typical reflow oven’s 10-minute cycle down to just 10 seconds as well as the overall benefits manufacturers could see from streamlining this process.

Flex Circuit Supply Chain Challenges

02/13/2019 | Stephen Las Marias, I-Connect007
In our recent Flex and Rigid-Flex survey, we asked the following question: "Do you have problems with your flex circuit supply chain?" Below are just a few of the explanations of those who answered "Yes", slightly edited for clarity.



Copyright © 2019 I-Connect007. All rights reserved.