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Flex: Fiscal 1Q Earnings Snapshot

SINGAPORE (AP) _ Flex Ltd. (FLEX) on Thursday reported fiscal first-quarter earnings of $44.9 million.

On a per-share basis, the Singapore-based company said it had profit of 9 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 27 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 27 cents per share.

The electronics designer and manufacturer posted revenue of $6.18 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $6.29 billion.

For the current quarter ending in October, Flex expects its per-share earnings to range from 29 cents to 33 cents.

The company said it expects revenue in the range of $6.1 billion to $6.5 billion for the fiscal second quarter.

Flex shares have climbed 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.94, a fall of 34% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLEX at https://www.zacks.com/ap/FLEX