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Flex Q1 Profit Rises

Flex (FLEX) reported that its net income for its first quarter ended June 26, 2020 rose to $51.82 million or $0.10 per share from $44.87 million or $0.09 per share in the prior year.

Non-GAAP earnings per share was $0.23 down from $0.27 in the previous year.

Net sales for the quarter declined to $5.15 billion from $6.18 billion in the prior year.

For the second-quarter, the company expects earnings per share to be in the range of $0.05 to $0.11, adjusted earnings per share of $0.25 to $0.31, revenue of $5.4 billion to $5.7 billion.

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