Flextronics Q2 Profit Declines - Quick Facts

(RTTNews) - Flextronics (FLEX), a end-to-end supply chain solutions company, reported second-quarter net income of $118.20 million or $0.19 per share, compared to $150.55 million or $0.22 per share, last year. Earnings per share from continuing operations was $0.19, compared to $0.24, prior year. Adjusted profit per share was $0.22, for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.21 for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $6.41 billion, from $6.17 billion, prior year. Analysts expected revenue of $6.28 billion for the quarter. For the third quarter ending December 31, 2013, the company expects revenue to be in the range of $6.5 billion to $6.9 billion and adjusted earnings per share to be in the range of $0.21 to $0.25. GAAP earnings per share is expected to be lower than the guidance provided herein by approximately $0.03 per share for intangible amortization and stock-based compensation expense, the company said. Analysts expect the company to report third-quarter profit per share of $0.25, on revenue of $6.79 billion.