10.20.15
Flex announced results for its second quarter ended Sept. 25, 2015. Flex’s net sales for the second quarter 2015 were just over $6.3 billion, above the mid-point of its previously provided revenue guidance of $5.9 billion to $6.5 billion. The company’s adjusted earnings per diluted share of $0.27 was towards the high-end of the company’s previously provided guidance of $0.22 to $0.28.
Second quarter adjusted operating income increased 7% year-over-year to $196 million and was above the midpoint of the guidance range of $165 to $205 million. Adjusted operating margin expanded 30 basis points year-over-year to 3.1%.
“Our strong performance this quarter was reflected in our quarterly revenue growth, improved operating margins and our continued ability to operate with discipline,” said Mike McNamara, CEO at Flex. “We remain committed to our strategy of expanding our sketch-to-scale offering to include exciting new partnerships such as NIKE and others that clearly demonstrate Flex’s ability to provide innovative solutions for many product categories that go beyond electronics.”
“We generated $300 million in cash flow from operations and $143 million in free cash flow during the quarter,” said Chris Collier, CFO at Flex. “Our consistent free cash flow generation reflects our strong discipline and execution and enables our shareholder return commitment. During the quarter we invested $142 million to repurchase almost 13 million shares, or over 2% of our ordinary shares.”
Second quarter adjusted operating income increased 7% year-over-year to $196 million and was above the midpoint of the guidance range of $165 to $205 million. Adjusted operating margin expanded 30 basis points year-over-year to 3.1%.
“Our strong performance this quarter was reflected in our quarterly revenue growth, improved operating margins and our continued ability to operate with discipline,” said Mike McNamara, CEO at Flex. “We remain committed to our strategy of expanding our sketch-to-scale offering to include exciting new partnerships such as NIKE and others that clearly demonstrate Flex’s ability to provide innovative solutions for many product categories that go beyond electronics.”
“We generated $300 million in cash flow from operations and $143 million in free cash flow during the quarter,” said Chris Collier, CFO at Flex. “Our consistent free cash flow generation reflects our strong discipline and execution and enables our shareholder return commitment. During the quarter we invested $142 million to repurchase almost 13 million shares, or over 2% of our ordinary shares.”