November 19, 2019
Arch Systems Partners with Flex for Manufacturing Data Transformation
Innovative data extraction from legacy and new machines to help drive production efficiencies, process automation and predictive analytics across Flex sites Arch Systems, provider of a leading machine-data-sensing platform compatible with both legacy and new industrial machines, today announced an agreement with Flex, the global supply chain and manufacturing company, to supply real-time access to and analysis of manufacturing data at its facilities. “We’re deploying Arch’s technology at key digital factories to capture the relevant analytics and help us drive production efficiencies, process automation and predictive analytics,” explains Gus Shahin, chief information officer at Flex. “Arch can pull raw data from existing and new machines to help us generate actionable metrics, one of the core competencies of our digital factory. As part of our Industry 4.0 journey, we are excited to partner with Arch and leverage its leading-edge technology.” “Flex and Arch form a powerful...
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October 24, 2019
Flex Reports Second Quarter Fiscal 2020 Results
Flex (NASDAQ: FLEX) today announced results for its second quarter ended September 27, 2019. Second Quarter Fiscal 2020 Highlights: Net Sales: $6.1 billion, year over year revenue down 9 percent GAAP Loss Before Income Taxes: ($96) million Adjusted Operating Income: $227 million GAAP Net Loss: ($117) million Adjusted Net Income: $158 million GAAP Net Loss Per Share: ($0.23) Adjusted EPS: $0.31 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. “This quarter was a step in the right direction and I am encouraged by our performance. We have focused on managing our mix, disciplined execution and design-led manufacturing to deliver strong adjusted operating margins and adjusted free cash flow. We will build on this momentum to drive profitable growth and shareholder value going forward,” said Revathi Advaithi, CEO of Flex. Flex ended the quarter with approximately $1.8 billion of...
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October 9, 2019
Flex Receives Six Cisco 2019 Supplier Appreciation Awards
Flex (NASDAQ: FLEX) today announced it was the recipient of six Cisco 2019 Supplier Appreciation Awards, including Supply Chain Operations’ Supplier of the Year. Cisco unveiled the award winners at its 28th Annual Supplier Appreciation Event at the Santa Clara Convention Center in California. These awards recognize Flex for: Supply Chain Operations’ Supplier of the Year for differentiating itself by exceeding expectations across many areas of the business including quality, technology, responsiveness, flexibility, value creation, sustainability, and consistently demonstrating a high level of partnership. EMS Partner of the Year for displaying well rounded performance and partnership in FY19, while in the midst of a challenging operational and commercial climate. Excellence in Service and Responsiveness for providing mission critical solutions that enable a disruptive advantage to Cisco in areas including, but not limited to time-to-market, operational execution and long-term cost...
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