* Sees fourth-quarter adjusted EPS $0.11-$0.15 vs est $0.20
* Sees fourth-quarter revenue $5 bln-$5.3 bln vs est $5.69
* Says expects almost no revenue from RIM
* Co to close factories, cut jobs
* Shares down 6 pct after the bell
Jan 24 Contract manufacturer Flextronics Inc
forecast fourth-quarter results below Wall Street
expectations, and said it now expects almost no revenue from key
customer Research In Motion , sending its
shares down 6 percent after the bell.
"The December quarter marks the last quarter where our
revenues reflect meaningful business with RIM," Chief Financial
Officer Paul Read said on a conference call with analysts. RIM,
which contributed about $100 million in revenue in the third
quarter, will now bring in almost nothing.
RIM accounted for more than 10 percent of Flextronics' net
sales of $29.4 billion in fiscal 2012.
Flextronics also said it would close factories and cut jobs,
and take related charges over the December and March quarters.
The company said it expects fourth-quarter adjusted earnings
of between 11 cents and 15 cents per share, on revenue of $5
billion to $5.3 billion.
Analysts were expecting adjusted earnings of 20 cents per
share, on revenue of $5.69 billion, according to Thomson Reuters
Flextronics' customers include Apple Inc, Microsoft
Corp, Hewlett-Packard Co and Xerox Corp
In the fourth quarter, the company expects to take an
additional pre-tax restructuring charge of between $100 million
and $125 million, which comprises employee severance and benefit
Net income more than halved to $32 million, or 5 cents per
share, in the third quarter, from $106 million or 15 cents per
share, a year earlier.
Revenue fell about 18 percent to $6.12 billion.
Excluding items, the company earned 21 cents per share.
Analysts had expected adjusted earnings of 21 cents per
share, on revenue of $6 billion.
Flextronics shares were down about 6 percent at $6.30 after
the bell. They closed at $6.72 on the Nasdaq on Thursday.