What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to formally submit Flextronics International Ltd.'s press release detailing its financial results for the fiscal quarter ended December 31, 2003, to the SEC.

What are 'proforma operating results' and why is Flextronics providing them?

Proforma operating results are financial metrics presented by the company that exclude certain items not considered part of core operations, such as amortization, restructuring costs, and specific legal settlements. Flextronics provides these to offer investors an alternative view focused on ongoing business performance and to facilitate easier comparisons between reporting periods.

Should investors rely solely on the proforma results?

No, investors should not rely solely on proforma results. The company explicitly states that these are not prepared in accordance with GAAP and may not be comparable to similar measures presented by other companies. It is crucial to review the GAAP results and the reconciliation provided in the press release for a complete financial picture.

What specific items are excluded from the proforma results?

The proforma operating results presented by Flextronics exclude the effects of amortization of intangible assets, costs associated with the early extinguishment of debt, restructuring charges, and the Beckman Coulter legal settlement.

FLEX 8-K SEC Disclosure

Summary

This 8-K filing by Flextronics International Ltd. (FLEX) on January 27, 2004, primarily serves to attach a press release detailing the company's financial results for the fiscal quarter ended December 31, 2003. The key takeaway for investors is the company's decision to present proforma operating results alongside GAAP figures, offering a non-GAAP view focused on core business operations. Management utilizes these proforma results to provide a performance measure that excludes items such as amortization of intangible assets, debt extinguishment costs, restructuring charges, and a specific legal settlement. While acknowledging that these proforma metrics are not standardized under GAAP and may not be comparable to other companies, Flextronics emphasizes their utility for facilitating period-to-period comparisons and providing investors with an alternative perspective on the company's operational performance. Investors should review the accompanying press release for the detailed reconciliation of proforma to GAAP results.

Key Highlights

1Flextronics International Ltd. (FLEX) filed an 8-K on January 27, 2004, to report its fiscal quarter results ending December 31, 2003.
2The filing includes a press release (Exhibit 99.01) containing the company's financial results.
3Flextronics is presenting proforma operating results as a key performance metric.
4Proforma results exclude items like amortization of intangibles, debt extinguishment costs, restructuring charges, and a Beckman Coulter legal settlement.
5The company states proforma results are used to focus on core business operations and aid in period-to-period comparisons.
6Flextronics advises that proforma results are not GAAP-based and may not be comparable to other companies.
7A reconciliation of proforma results to GAAP is provided within the attached press release.

FLEX LTD. 8-K Report (Jan 27, 2004)

Summary

Key Highlights

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