Reuters: Global Markets: Flextronics fourth quarter beats, but sees a first quarter miss

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Flextronics fourth quarter beats, but sees a first quarter miss May 1st 2012, 21:00 Tue May 1, 2012 5:00pm EDT (Reuters) - Flextronics International Ltd's (FLEX.O) fourth-quarter profit rose 15 percent as higher margins and lower expenses helped the contract electronics manufacturer offset a decline in revenue. For its financial first-quarter, the Singapore-based company forecast results that missed analysts' expectations. It expects a profit of 20 cents to 24 cents in adjusted earnings on $5.9 billion to $6.3 billion in revenue for the current quarter. Analysts were expecting a profit of 25 cents a share on revenue of $6.72 billion, according to Thomson Reuters I/B/E/S. The company reported fourth-quarter sales of $6.38 billion, down from $6.79 billion last year. Net income rose to $156.7 million, or 22 cents a share, from $135.3 million, or 17 cents a share last year. Excluding items, the company earned a 28 cent a share profit on a continuing basis, topping analysts' expectation of 23 cents a share. Flextronics shares closed at $6.77 on Tuesday on the Nasdaq. (Reporting by Himank Sharma in Bangalore; Editing by Maju Samuel, Saumyadeb Chakrabarty)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions