Flextronics Results Top Estimates; Stock Up 3%

(RTTNews) - Contract electronics manufacturer Flextronics International Ltd. (FLEX) on Wednesday reported third-quarter net earnings of $153 million or $0.26 per share compared with $145 million or $0.23 per share last year.

Excluding items, adjusted earnings for the quarter were $0.30 per share compared with $0.26 per share a year ago.

Revenues for the quarter were $7.03 billion compared with $7.2 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.26 per share on revenues of $6.6 billion for the quarter. Analysts' estimates typically exclude special items.

Results were helped by improved gross margins and lower selling and other expenses, the company said.

For the fourth quarter, the company expects adjusted earnings of $0.23 to $0.27 per share on revenues of $6 billion to $6.4 billion. Analysts expect earnings of $0.24 per share on revenues of $6.2 billion.