Flex: Fiscal 2Q Earnings Snapshot

SINGAPORE (AP) _ Flex Ltd. (FLEX) on Thursday reported fiscal second-quarter earnings of $86.9 million.

On a per-share basis, the Singapore-based company said it had profit of 16 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 29 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The electronics designer and manufacturer posted revenue of $6.71 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $6.81 billion.

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

The company said it expects revenue in the range of $6.6 million to $7 million for the fiscal third quarter.

Flex expects full-year earnings in the range of $1.05 to $1.15 per share, with revenue ranging from $26 million to $27 million.

Flex shares have declined 39 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.91, a drop of 38 percent in the last 12 months.

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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