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Provider: Thomson Reuters Stock Report
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Provider: GlobalData
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Flextronics International Ltd issues Q4 2014 guidance; EPS guidance below analysts' estimates; plans to reduce workforce; issues Q4 2014 charge guidance


Wednesday, 29 Jan 2014 04:01pm EST 

Flextronics International Ltd:Expects Q4 2014 revenue to be in the range of $5.9 bln to $6.3 bln.Expects Q4 2014 EPS in the range of $0.18 to $0.22 per diluted share.Expects Q4 2014 GAAP EPS to be lower than the guidance provided herein by about $0.05-$0.06 for the costs associated with SG&A reductions and $0.03 per diluted share for intangible amortization and stock-based compensation expense.Says during Q4 2014 it plans to reduce its workforce and initiate other cost reduction activities.Says as a result, the company expects to recognize about $30-$35 mln in pre-tax cash charges comprised primarily of employee severance and benefit costs.Says these cost reduction activities will yield potential annualized savings of about $60 mln principally to selling, general and administrative expenses through reduced employee expenses and lower operating costs.Q4 2014 revenue of $6.3 bln and EPS of $0.23 -Thomson Reuters I/B/E/S. 

Company Quote

11.96
-0.27 -2.21%
3:01pm EST