Flextronics Q4 Profit Rises - Quick Facts

(RTTNews) - Flextronics (FLEX), a leading end-to-end supply chain solutions company, reported fourth-quarter net income from continuing operations of $135 million or $0.23 per share, compared to $43 million or $0.07 per share, prior year. Adjusted earnings per share was $0.27, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items.

Net sales from continuing operations decreased to $5.95 billion from $6.72 billion last year. Analysts expected revenue of $6.27 billion for the quarter.

For the first quarter ending June 26, 2015, the company expects revenue to be in the range of $5.60 to $6.20 billion and adjusted EPS to be in the range of $0.20 to $0.26. GAAP earnings per share is expected to be lower than the adjusted EPS guidance by approximately $0.04 per share. Analysts expect the company to report first-quarter earnings per share of $0.26 on revenue of $6.50 billion.

Flextronics also announced it has entered into a definitive agreement to acquire Mirror Controls International from private equity firm Egeria in an all cash transaction valuing its share capital at 457 million euros, or $494 million. Based in Woerden, the Netherlands, and with three highly automated manufacturing facilities in China, Mexico, and Ireland, MCi is a leading global manufacturer of glass and powerfold mirror actuators in the automotive market. Flextronics expects the acquisition to be accretive to its growth, margin, EPS and cash flow profile.