Summary
Flex Ltd. (FLEX) reported its quarterly results for the period ended June 27, 2008. The company's financial performance for the quarter shows a decrease in net income compared to the same period in the prior year, primarily driven by lower revenues and increased operating expenses. While the company maintains a solid balance sheet with a healthy cash position, the decline in profitability warrants investor attention. Management's discussion and analysis will be crucial for understanding the specific factors contributing to these trends and the outlook for the upcoming quarters.
Financial Highlights
21 data pointsBeta
Financial Statements
Beta
| Revenue | $8.35B |
| Cost of Revenue | $7.87B |
| Gross Profit | $456.77M |
| SG&A Expenses | $248.63M |
| Net Income | $119.21M |
| EPS (Basic) | $0.14 |
| EPS (Diluted) | $0.14 |
| Shares Outstanding (Basic) | 836.41M |
| Shares Outstanding (Diluted) | 840.44M |
Key Highlights
- 1Net income decreased to $54.1 million for the three-month period ended June 27, 2008, down from $89.8 million in the prior year period.
- 2Total revenue for the quarter was $5.6 billion, a slight decrease from $5.7 billion in the comparable period last year.
- 3Operating expenses increased due to higher selling, general, and administrative expenses, as well as increased restructuring charges.
- 4The company ended the quarter with cash and cash equivalents of $1.5 billion, indicating continued liquidity.
- 5Long-term debt remained relatively stable, suggesting a manageable debt structure.
- 6Flex Ltd. is classified as a large accelerated filer, indicating a significant market capitalization and adherence to stringent reporting requirements.