What are non-GAAP operating results and why does Flextronics provide them?

Non-GAAP operating results are financial measures that exclude certain items, such as after-tax intangibles amortization and restructuring charges, that management believes do not reflect the company's core operational performance. Flextronics provides these measures to offer investors additional insight for analyzing operational results and to enable easier comparison between different reporting periods.

Are the non-GAAP results presented by Flextronics comparable to other companies?

Flextronics explicitly states that their non-GAAP operating results are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similar measures presented by other companies. Investors should exercise caution when making such comparisons.

Where can I find the detailed financial information for the quarter?

The detailed financial information, including the press release with GAAP and non-GAAP results and the reconciliation between them, is attached as Exhibit 99.1 to this 8-K filing.

FLEX 8-K: Earnings & Results

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

The main purpose of this 8-K filing is to officially report Flextronics International Ltd.'s financial results for the first fiscal quarter ended June 30, 2006, and to provide investors with access to the press release announcing these results.

Summary

Flextronics International Ltd. (FLEX) filed an 8-K on July 25, 2006, to report its financial results for the first fiscal quarter ended June 30, 2006. The primary purpose of this filing is to provide investors with the company's earnings release, which contains both GAAP and non-GAAP financial information. The company emphasizes that non-GAAP results, which exclude items like after-tax intangibles amortization and restructuring charges, are provided for enhanced analysis and period-to-period comparability, and are not a substitute for GAAP reporting. Investors should note that while the company presents non-GAAP figures as a performance measure, the attached press release (Exhibit 99.1) includes a reconciliation to GAAP. This filing serves as notification of the release of these financial results and allows for a more detailed review of Flextronics' operational and financial condition during the reported quarter, including the impact of specific adjustments made to their reported earnings.

Key Highlights

1Flextronics International Ltd. announced its first fiscal quarter results for the period ending June 30, 2006, via an 8-K filing on July 25, 2006.
2The filing includes a press release (Exhibit 99.1) detailing the company's financial performance for the quarter.
3The company provided both GAAP and non-GAAP operating results.
4Non-GAAP results are presented to aid investor analysis and facilitate period-to-period comparisons.
5Key exclusions from non-GAAP results include after-tax intangibles amortization and restructuring and other charges.
6Flextronics states that non-GAAP measures are not standardized and may not be comparable to similar metrics from other companies.
7A reconciliation of non-GAAP to GAAP operating results is provided within the attached press release.

FLEX LTD. 8-K Report, Financial Results (Jul 25, 2006)

Summary

Key Highlights

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