SINGAPORE-Flextronics’ shares dropped 8.25 percent on its projections for the company’s second-quarter results, which fell lower than expected.
But the company said it generated a net income of $78.3 million, which represents a 283-percent rise, or 14 cents per share. This contrasts with the year-ago period when it had a $20 million net income or 4 cents per share. The figures exclude restructuring and other charges.
“The improvement in margins was driven by effective management of our operations, which included aggressive restructuring in prior periods as well as continuous cost reductions,” said Michael E. Marks, chief executive of Flextronics.
