Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Flextronics Reports 4Q, Fiscal 2014 Results - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Flextronics Reports 4Q, Fiscal 2014 Results

Adjusted operating profit Increased 72 percent year-over-year to $182 million

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Flextronics announced results for its fourth quarter and fiscal year ended March 31, 2014. Net sales for the fiscal year ended March 31, 2014 were $26.1 billion, an increase of $2.5 billion from the $23.6 billion recognized in fiscal year 2013.

Adjusted operating income increased 9% from $611 million to $665 million in the fiscal year ended March 31, 2014. Adjusted earnings per diluted share also increased 6% to $0.89 year-over-year.

“Fiscal 2014 marked a year of continuous improvement and execution,” said Mike McNamara, CEO of Flextronics. “We consistently grew revenue, adjusted operating profit dollars, and adjusted EPS sequentially every quarter from our March trough a year ago through our December quarter. And while we are very pleased to have exceeded expectations for all three metrics this quarter, we remain focused on providing industry-leading, end-to-end supply chain solutions, driving growth and executing our strategy.”

“We continued to deliver strong cash flow generation with fiscal 2014 cash flow from operations of $1.2 billion and free cash flow of $701 million,” said Chris Collier, chief financial officer of Flextronics. “During fiscal 2014 we repurchased 60 million shares or 9% of our shares outstanding, further demonstrating our continued commitment to deliver shareholder value.”

Net sales for the fourth quarter ended March 31, 2014 were $6.7 billion, higher than the company’s previously provided revenue guidance of $5.9 billion to $6.3 billion. The company’s adjusted earnings per diluted share of $0.24 in the fourth quarter ended March 31, 2014 was also higher than the company’s previously provided guidance of $0.18 to $0.22.

Flextronics’s adjusted operating income increased $76 million or 72%, compared to the same quarter last year, to $182 million.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters