Summary
Flextronics International Ltd. (FLEX) filed an 8-K on July 26, 2005, to report its financial results for the first fiscal quarter ended June 30, 2005. The report primarily directs investors to a press release (Exhibit 99.1) for detailed financial information. Notably, the company provided non-GAAP operating results alongside GAAP figures, emphasizing that these non-GAAP measures are used internally for performance assessment and to facilitate period-to-period comparisons. Investors should pay close attention to the company's explanation and reconciliation of non-GAAP results, which exclude after-tax amortization of intangibles and restructuring charges. While management believes these non-GAAP figures offer additional insight and consistency, it's crucial for investors to also review the GAAP-based results for a complete financial picture and to assess comparability with other industry players.
Key Highlights
- 1Flextronics International Ltd. reported its Q1 fiscal year 2005 results on July 26, 2005.
- 2The filing includes a press release (Exhibit 99.1) with detailed financial results for the quarter ended June 30, 2005.
- 3The company presented both GAAP and non-GAAP operating results.
- 4Non-GAAP results exclude after-tax intangibles amortization and restructuring and other charges.
- 5Management uses non-GAAP results as a performance measure and for period-to-period comparisons.
- 6A reconciliation between non-GAAP and GAAP results is provided in the attached press release.
- 7The CFO, Thomas J. Smach, signed the Form 8-K.