SINGAPORE (AP) _ Flex Ltd. (FLEX) on Wednesday reported fiscal fourth-quarter net income of $240 million.
On a per-share basis, the Singapore-based company said it had net income of 47 cents. Earnings, adjusted for one-time gains and costs, were 49 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The electronics designer and manufacturer posted revenue of $6.27 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $5.82 billion.
For the year, the company reported profit of $613 million, or $1.21 per share. Revenue was reported as $24.12 billion.
For the current quarter ending in July, Flex expects its per-share earnings to range from 34 cents to 40 cents.
The company said it expects revenue in the range of $5.9 billion to $6.3 billion for the fiscal first quarter.
Flex expects full-year earnings in the range of $1.60 to $1.75 per share, with revenue ranging from $25 billion to $26 billion.
Flex shares have fallen roughly 6% since the beginning of the year. The stock has climbed 91% 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
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