01—Abstract
Summary
Summary of the 10-Q filed August 5, 2010. Cited figures are marked; the original filing is the authoritative source.
Flex Ltd. (FLEX) filed its 10-Q for the quarterly period ending July 2, 2010, presenting unaudited condensed consolidated financial statements.
The report indicates a focus on operational performance and financial position, with significant sections dedicated to the analysis of results of operations, financial condition, and market risk. Investors should pay close attention to the Management's Discussion and Analysis (MD&A) for insights into the company's performance drivers, challenges, and future outlook. The inclusion of legal proceedings and risk factors also provides crucial context for understanding potential headwinds and uncertainties facing the company.
02—Key points
Key Highlights
- The filing includes unaudited Condensed Consolidated Balance Sheets as of July 2, 2010, and March 31, 2010, providing a snapshot of the company's assets, liabilities, and equity.
- Unaudited Condensed Consolidated Statements of Operations for the three-month periods ended July 2, 2010, and July 3, 2009, are presented, allowing for a year-over-year comparison of revenue, expenses, and profitability.
- Unaudited Condensed Consolidated Statements of Cash Flows for the same comparative periods detail the company's cash inflows and outflows from operating, investing, and financing activities.
- The Management's Discussion and Analysis (MD&A) section offers critical insights into the company's financial condition and results of operations, explaining the factors that influenced performance.
- Disclosures about market risk provide information on the company's exposure to fluctuations in interest rates, foreign currency exchange rates, and other market variables.
- Information regarding legal proceedings is included, highlighting any ongoing litigation that could have a material impact on the company's financial standing.
- Risk Factors are detailed, offering investors a comprehensive view of potential challenges and uncertainties that could affect Flex Ltd.'s business and financial performance.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q2 FY2011, Flex Ltd. kept $0.02.
- Revenue$6.55B100.0%
- Cost of revenue−$6.18B94.3%
- Gross profit$370.2M5.7%
- Operating costs−$250.1M3.8%
- Operating income$120.1M1.8%
- Interest, other & tax−$1.9M0.0%
- Net income$118.2M1.8%
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2011filed August 5, 2010Financial Statements
Q2 FY2011 against Q2 FY2010
| Line item | Q2 FY2011Q2 FY2010 | Change |
|---|---|---|
| Revenue | $6.55B$5.78B | +13.2% |
| Cost of Revenue | $6.20B$5.51B | +12.5% |
| Gross Profit | $370.18M$224.00M | +65.3% |
| SG&A Expenses | $195.72M$201.69M | −3.0% |
| Operating Income | $120.07M— | — |
| Interest Expense | $31.30M$46.20M | −32.3% |
| Net Income | $118.18M-$154.04M | +176.7% |
| EPS (Basic) | $0.15$-0.19 | +178.9% |
| EPS (Diluted) | $0.14$-0.19 | +173.7% |
| Shares Outstanding (Basic) | 810.64M810.17M | +0.1% |
| Shares Outstanding (Diluted) | 824.02M810.17M | +1.7% |
05—Questions
Frequently Asked Questions
What is the primary purpose of this 10-Q filing for Flex Ltd.?
This 10-Q filing provides investors with an update on Flex Ltd.'s financial performance and condition for the quarterly period ended July 2, 2010. It includes unaudited financial statements and management's analysis, offering insights into the company's operations, financial health, and associated risks during that period.
Where can I find information about Flex Ltd.'s revenue and profitability trends?
The 'Condensed Consolidated Statements of Operations' for the three-month periods ended July 2, 2010, and July 3, 2009, provide the most direct information on revenue and profitability trends. Additionally, the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' will offer a narrative explanation of these trends.
What are the key risks that investors should be aware of after reviewing this filing?
Investors should carefully review 'Item 1A. Risk Factors' in Part II of the filing. This section outlines potential challenges and uncertainties, such as market conditions, competitive pressures, regulatory changes, and operational risks, that could materially affect Flex Ltd.'s business and financial results.
How can I understand Flex Ltd.'s cash generation and usage?
The 'Condensed Consolidated Statements of Cash Flows' presents the company's cash inflows and outflows across operating, investing, and financing activities for the reported periods. This statement, along with the accompanying notes and MD&A, will help investors understand how Flex Ltd. is generating and utilizing its cash.
06—Continue