8-KEarnings & ResultsOther EventsExhibits & Filings

FLEX LTD. 8-K Report, Financial Results (Apr 27, 2011)

Filed April 27, 2011For Securities:FLEX

Summary

Flextronics International Ltd. (FLEX) filed an 8-K on April 27, 2011, primarily to announce two significant events for investors. The first, detailed in Item 2.02, is the release of the Company's financial results for its fourth quarter ended March 31, 2011. While the specific details of these results are not in the 8-K itself but rather in an attached press release (Exhibit 99.1), the filing signifies the availability of this crucial financial performance information. The second major announcement, under Item 8.01, concerns the Company's capital allocation strategy. Flextronics' Board of Directors approved a new share repurchase program, authorizing the repurchase of up to $200 million of its outstanding ordinary shares. This move signals management's confidence in the company's valuation and its commitment to returning capital to shareholders, though the actual repurchases are subject to market conditions and the company's discretion.

Key Highlights

  • 1Flextronics International Ltd. announced its fourth quarter and full fiscal year 2011 financial results on April 27, 2011, via a press release.
  • 2The press release detailing the financial results is furnished as an exhibit to the 8-K filing.
  • 3The company's Board of Directors approved a new share repurchase program.
  • 4The new share repurchase program authorizes the repurchase of up to $200 million of the Company's outstanding ordinary shares.
  • 5Share repurchases will be made in the open market and may utilize a Rule 10b5-1 plan.
  • 6The repurchase program is flexible and can be suspended or terminated at any time without prior notice.
  • 7The company intends to comply with Rule 10b-18 for any share repurchases.

Frequently Asked Questions

The 8-K filing itself does not contain the specific financial results. Instead, it states that the Company issued a press release on April 27, 2011, announcing these results. Investors would need to refer to Exhibit 99.1, the press release, for detailed financial performance metrics.

The Board of Directors approved a new program allowing Flextronics to repurchase up to $200 million of its outstanding ordinary shares. These repurchases are discretionary and will depend on market conditions and pricing.

No, the program authorizes a maximum of $200 million in repurchases. The actual number of shares bought back is not guaranteed and will depend on various factors, including market conditions and the company's strategy. The program can also be suspended or terminated at any time.

Flextronics intends to make repurchases in the open market and may use a Rule 10b5-1 trading plan. The company also stated its intention to comply with Rule 10b-18, which governs the manner, timing, and price of stock repurchases.