8-KOther Events

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

Filed April 27, 2004For Securities:FLEX

Summary

This 8-K filing by Flextronics International Ltd. (FLEX) on April 27, 2004, primarily serves to furnish a press release announcing the company's financial results for its fourth fiscal quarter and full fiscal year ended March 31, 2004. The press release, attached as Exhibit 99.01, contains important financial and operational updates. Investors should note the company's emphasis on providing "proforma operating results" alongside GAAP figures. The proforma results exclude certain items such as amortization of intangible assets, debt extinguishment costs, restructuring charges, and a specific legal settlement. Flextronics management utilizes these proforma figures as a key performance indicator, believing they offer a clearer view of core business operations and facilitate period-to-period comparisons. While these proforma figures are presented to provide additional analytical tools for investors, it's crucial to recognize they are not prepared under standardized GAAP methodology and may not be comparable to similar metrics presented by other companies. Investors are advised to review the provided reconciliation of proforma to GAAP results within the press release for a comprehensive understanding.

Key Highlights

  • 1Flextronics International Ltd. (FLEX) announced fourth fiscal quarter and full fiscal year results ended March 31, 2004, via a press release.
  • 2The company is providing "proforma operating results" as a key performance measure, in addition to GAAP results.
  • 3Proforma results exclude specific non-recurring or non-operational items including amortization of intangibles, debt extinguishment costs, restructuring charges, and the Beckman Coulter legal settlement.
  • 4Management uses proforma results to highlight core business operations and facilitate comparisons.
  • 5Investors are cautioned that proforma results are not prepared under U.S. GAAP and may not be comparable to other companies' metrics.
  • 6A reconciliation between proforma and GAAP operating results is provided within the press release (Exhibit 99.01).
  • 7The filing is primarily informational, furnishing the press release rather than reporting new material information directly in the 8-K.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose Flextronics International Ltd.'s financial results for the fourth fiscal quarter and the full fiscal year ended March 31, 2004, through an attached press release (Exhibit 99.01).

Proforma operating results are financial measures presented by Flextronics that exclude certain items like amortization of intangibles, debt extinguishment costs, restructuring charges, and a legal settlement. The company provides these to offer investors an alternative view of operational performance, focusing on core business activities and facilitating easier period-to-period comparisons.

No, investors should not rely solely on proforma operating results. The filing explicitly states that these measures are not based on standardized GAAP methodology and may not be comparable to similar measures from other companies. It is crucial for investors to review the reconciliation of proforma results to GAAP results, which is provided within the press release, for a complete and accurate financial picture.

This 8-K filing's primary content is the press release detailing past financial results. While the press release will contain the actual financial figures and potentially management commentary on performance, the 8-K itself focuses on furnishing this information. Specific forward-looking statements or detailed trend analyses would be found within the content of the press release itself, which is incorporated by reference.