Flextronics International Ltd. (FLEX), Tuesday reported fourth-quarter GAAP net loss from continuing operations of $27 million or $0.04 per share, compared to net income of $143 million or $0.20 per share in the comparable quarter last year.
Adjusted net income from continuing operations for the quarter declined to $86 million or $0.13 per share from $166.1 million or $0.24 per share in the prior year quarter. Analysts polled by Thomson Reuters expected earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter dropped 17 percent to $5.30 billion from $6.37 billion in the prior year quarter, while ten analysts had consensus revenue estimate of $5.19 billion for the quarter.
Looking forward to the first quarter, the company expects adjusted earnings from continuing operations of $0.12 to $0.16 per share and revenues of $5.3 billion to $5.6 billion. Analysts currently estimate earnings of $0.16 per share on revenues of $5.45 billion.
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