Key Developments: Flextronics International Ltd (FLEX.O)
7.38USD
20 May 2013
$0.00 (+0.00%)
$7.38
$7.33
$7.44
$7.33
3,337,465
4,331,409
$7.44
$5.47
Latest Key Developments (Source: Significant Developments)
Flextronics International Ltd Announces Departure Of Chief Financial Officer
Flextronics International Ltd announced that effective immediately, Paul Read, Chief Financial Officer(CFO), has decided to leave the Company to pursue new opportunities, but will remain available for any necessary transitional activities through the end of the current quarter. Christopher Collier, who has served as an officer of the Company since 2005, and chief accounting officer since 2007, has been appointed CFO effective immediately. Full Article
Flextronics International Ltd Issues Q1 2014 Guidance In Line With Analysts' Estimates
Flextronics International Ltd announced that for the first quarter of 2014, revenue is expected to be in the range of $5.3 billion to $5.6 billion and adjusted EPS from continuing operations is expected to be in the range of $0.12 to $0.16 per share. GAAP earnings per share from continuing operations are expected to be lower than the guidance provided herein by approximately $0.03 per diluted share for intangible amortization and stock-based compensation expense, and by approximately $0.04 to $0.05 per diluted share for the remaining restructuring charges. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $5.4 billion and EPS of $0.16 for the first quarter of 2014. Full Article
Flextronics International Ltd Issues Q4 2013 Guidance Below Analysts' Estimates
Flextronics International Ltd announced that for fourth quarter of 2013, it expects revenue to be in the range of $5.0 billion to $5.3 billion and adjusted earnings per share (EPS) from continuing operations to be in the range of $0.11-$0.15 per share. GAAP earnings per share from continuing operations are expected to be lower than the guidance provided herein by approximately $0.02 per diluted share for quarterly intangible amortization and stock based compensation expense and by approximately $0.15 to $0.18 per diluted share for the remaining restructuring charges. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $5.6 billion and EPS of $0.20 for fourth quarter of 2013. Full Article
Flextronics International Ltd Acquires Saturn Electronics & Engineering
Flextronics International Ltd announced that it has acquired Saturn Electronics & Engineering, Inc., a supplier of electronics manufacturing services, solenoids and wiring for the automotive, appliance, consumer, energy and industrial markets. Based in Rochester Hills, Michigan, Saturn Electronics & Engineering most recently reported more than $300 million in annual revenue. Additional terms of the deal were not disclosed. Full Article
Flextronics International Ltd Issues Q3 2013 Guidance
Flextronics International Ltd announced that for the third quarter of 2013, it expects revenue to be in the range of $5.8 billion to $6.2 billion and adjusted EPS to be in the range of $0.18 to $0.22 per share. Full Article
Flextronics International Ltd Announces Board of Directors Authorization for Additional Share Repurchases
Flextronics International Ltd announced that its Board of Directors has authorized a share repurchase plan. This new authorization permits the repurchase of ordinary shares up to the current maximum under the 10% limitation. Full Article
Flextronics International Ltd Issues Q2 2013 Guidance
Flextronics International Ltd announced that for the second quarter of 2013, it expects revenue in the range of $5.9 billion to $6.3 billion and adjusted EPS to be in the range of $0.21 to $0.25 per share. GAAP earnings per share to be lower than the guidance provided herein by approximately $0.03 per diluted share for quarterly intangible amortization and stock-based compensation expense. Full Article
Tessera Technologies, Inc. Completes Acquisition of Vista Point Camera Module Manufacturing Assets
Tessera Technologies, Inc. (the Company) announced that its wholly-owned subsidiary, DigitalOptics Corporation (DOC), announced that it has completed its acquisition of certain assets of Vista Point Technologies, a Tier One qualified camera module manufacturing business, from Flextronics International Ltd. DOC expects to acquire certain additional assets from Flextronics at a second closing, which is scheduled to occur on or before March 31, 2013. On March 2, 2012, the Company announced the signing of the definitive agreement to acquire the assets described above. Terms of the transaction were not disclosed. Full Article
Flextronics International Ltd Issues Q1 2013 Guidance Below Analysts' Estimates
Flextronics International Ltd announced that for the first quarter of 2013, revenue is expected to be in the range of $5.9-$6.3 billion. Adjusted EPS from continuing operations is expected to be in the range of $0.20-$0.24 per share. GAAP earnings per share are expected to be lower than the guidance provided herein by approximately $0.04 per diluted share for quarterly intangible amortization and stock-based compensation expense. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $6.7 billion and EPS of $0.25 for the first quarter of 2013. Full Article
Flextronics International Ltd Completes Stellar Microelectronics Acquisition
Flextronics International Ltd announced that it has completed its previously announced acquisition of Stellar Microelectronics. The acquisition extends Flextronics' service offering in advanced custom packaging solutions that utilize the latest microelectronics technologies for the aerospace, defense and medical manufacturing markets and the ability to support customers with U.S. manufacturing needs such as AS9100C, ISO 9001:2008 and ISO13485:2003. Financial terms were not mentioned. Full Article
Flextronics revenue falls; more weakness ahead
- Contract electronics maker Flextronics International Ltd reported a quarterly loss after the departure of key customer BlackBerry, and it warned earnings in the current quarter may fall below analysts' estimates.
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