U.S. Markets closed

Flex: Fiscal 2Q Earnings Snapshot

SINGAPORE (AP) _ Flex Ltd. (FLEX) on Thursday reported a fiscal second-quarter loss of $116.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Singapore-based company said it had a loss of 23 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 31 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The electronics designer and manufacturer posted revenue of $6.09 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $6.27 billion.

For the current quarter ending in January, Flex expects its per-share earnings to range from 32 cents to 36 cents.

The company said it expects revenue in the range of $6 billion to $6.3 billion for the fiscal third quarter.

Flex expects full-year earnings in the range of $1.20 to $1.30 per share.

Flex shares have climbed 37% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.39, a decrease of almost 5% 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