March 9, 2020
Flex Addresses COVID-19 and Impact on Its Fourth Quarter Fiscal 2020
Flex (NASDAQ: FLEX) today announced that as a result of the still-evolving COVID-19 situation, it expects fourth quarter fiscal 2020 results to be negatively impacted and the Company is not expected to meet its current guidance. On January 30, 2020, Flex issued fourth quarter fiscal 2020 guidance excluding any potential impact from the COVID-19 outbreak, given that it was still early in a very fluid and dynamic situation. As stated on the earnings call, at the onset of the outbreak, Flex activated contingency plans and deployed response teams to take proactive steps with the purpose of protecting the health and safety of its workforce. “Our cross-functional teams have done an amazing job returning more than 80% of our colleagues back to work, in a disciplined and safe manner. On behalf of the Flex leadership team, my sincere thanks to all my Flex colleagues for their commitment to safety and dedication to ramping up production at our China factories,” said Revathi Advaithi, Chief...
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March 4, 2020
Flex to Host Investor and Analyst Webcast
Flex (NASDAQ: FLEX) today announced that it will host its Investor and Analyst webcast at 9:00 a.m. Pacific Time on March 11, 2020. Due to the evolving COVID-19 situation and the resulting concerns regarding travel and safety, Flex has changed its previously announced Investor and Analyst Day event, which was scheduled to take place in New York City on March 11, 2020, to a webcast instead. The webcast will include executive presentations, led by Chief Executive Officer, Revathi Advaithi and Chief Financial Officer, Chris Collier, followed by a Q&A session. The live webcast and related materials will be accessible on the Flex Investor Relations (IR) website located at investors.flex.com on the day of the event. A dial-in number for audio access will also be provided on the IR website prior to the event date. The replay and presentation materials will be available on-demand at the same link after the completion of the webcast. About Flex Flex (Reg. No. 199002645H) is the...
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January 30, 2020
Flex Reports Third Quarter Fiscal 2020 Results
Flex (NASDAQ: FLEX) today announced results for its third quarter ended December 31, 2019. Third Quarter Fiscal 2020 Highlights: Net Sales: $6.5 billion, year over year revenue down 7 percent GAAP Income Before Income Taxes: $145 million Adjusted Operating Income: $256 million GAAP Net Income: $111 million Adjusted Net Income: $193 million GAAP Earnings Per Share: $0.22 Adjusted EPS: $0.38 An explanation and reconciliation of non-GAAP financial measures to GAAP financial measures is presented in Schedules II and V attached to this press release. “Our third quarter fiscal year 2020 performance resulted in record adjusted EPS, improved adjusted margins and greater adjusted free cash flow generation. These results validate our continued transition as we manage our portfolio mix, operate with disciplined execution, and pursue design-led manufacturing. There is still work to do, but our consistent performance over the last 3 quarters has positioned us well on the path to profitable...
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