Monday, Flextronics International Ltd. (FLEX) reported second-quarter net income of $19.6 million or $0.02 per share, compared to net income of $38.5 million or $0.05 per share in the year ago quarter.
On an adjusted basis, the company reported net income was $104 million or $0.13 per share. For the year ago quarter the company reported adjusted earnings of $280 million or $0.28 per share.
On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.09 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $5.83 billion, compared to net sales of $8.9 billion a year ago. Analysts expected the company to report revenue of $5.77 billion for the quarter.
Looking ahead to the third quarter, the company expects revenue to be in the range of $6.0 billion - $6.4 billion. Earnings for the quarter are expected to be lower than the guidance provided herein by approximately $0.07 per share for estimated restructuring activities, quarterly intangible amortization, stock-based compensation expense and non-cash interest expense. On an adjusted basis, earnings are expected to be in the range of $0.14 - $0.16 per share. Analysts expected the company to earn $0.13 per share on revenue of $6.24 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.