10-Q/APeriod: Q1 FY2005

FLEX LTD. Quarterly Report (Amendment) for Q1 Ended Jun 30, 2004

Filed September 7, 2004For Securities:FLEX

Summary

Flextronics International Ltd. filed an amended Form 10-Q for the quarterly period ended June 30, 2004. The primary purpose of this amendment (10-Q/A) was to refile Exhibit 10.01, the Asset Purchase Agreement with Nortel Networks Limited, with certain previously redacted portions now unredacted at the SEC's request. This filing does not introduce new financial results but rather clarifies terms of a significant asset acquisition. Investors should note that this is an amendment, not a new quarterly report. The key event disclosed within this amendment relates to the asset purchase agreement with Nortel Networks. While the financial impact of this agreement would have been detailed in the original 10-Q, this amendment focuses on the legal and contractual details of that acquisition, potentially impacting future operational integration and contingent liabilities.

Key Highlights

  • 1Amendment to Form 10-Q filed for the quarter ended June 30, 2004.
  • 2The amendment's sole purpose is to refile Exhibit 10.01, the Asset Purchase Agreement with Nortel Networks Limited.
  • 3Previously redacted portions of the Asset Purchase Agreement have been unredacted at the SEC's request.
  • 4Schedule 2.3(2) has been attached to Exhibit 10.01 as requested by the SEC.
  • 5This filing does not present new financial performance data but clarifies contractual terms of a material acquisition.
  • 6Two amendments to the Credit Agreement dated March 3, 2004, were also listed as exhibits (10.02 and 10.03).

Frequently Asked Questions

The primary reason for this amended filing is to provide an unredacted version of Exhibit 10.01, the Asset Purchase Agreement between Flextronics International Ltd. and Nortel Networks Limited, along with an additional schedule requested by the SEC. This amendment clarifies contractual terms rather than reporting new financial results.

No, this filing is an amendment to a previously submitted 10-Q. It does not contain updated financial performance figures. The original 10-Q filed on August 6, 2004, would have contained the financial results for the quarter ended June 30, 2004.

The Asset Purchase Agreement signifies a material transaction where Flextronics acquired assets from Nortel Networks. This amendment focuses on the detailed contractual terms of this acquisition, which investors may find important for understanding the integration, potential liabilities, and future operational scope of Flextronics.

Yes, the filing also lists amendments (Amendment No. 2) to the company's Credit Agreement dated March 3, 2004. These amendments, detailed in Exhibits 10.02 and 10.03, pertain to the company's financing arrangements.