May 24, 2021
Flex Wins National Export Award in Mexico
Flex (NASDAQ: FLEX) today announced its manufacturing operations in Mexico have been awarded the 2020 National Export Award in the Manufacturing and Export Services category by the Economic Ministry of Mexico. Flex was recognized for its strong manufacturing processes driven by its industry knowledge, dedicated employees, automation and digitization. Flex has invested in a focused portfolio of advanced manufacturing capabilities and technologies to lead the evolution of Industry 4.0 and provide greater efficiency, quality and sustainability for customers. The company is developing and implementing innovative manufacturing techniques and processes and offers its customers an array of services regionally and globally to ensure a seamless/optimized transition from design to manufacturing. "We are very proud to have won this prestigious national award," said Flavio Magalhaes, senior vice president, Operations at Flex. "Our operations in Mexico serve nearly every industry, from automotive...
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May 12, 2021
Flex and EMist Quickly Ramp Production of Cordless TruElectrostatic™ Disinfectant Sprayers to Address Heightened Consumer Health & Safety Expectations
Flex enables EMist to scale production of electrostatic disinfectant sprayers, delivering globally in almost half the time The COVID-19 pandemic has created new consumer expectations of the health and safety of physical spaces they encounter and visit. To help meet an exponential increase in demand for its disinfecting products, EMist turned to Flex (NASDAQ:FLEX), a global manufacturing and supply chain leader, to quickly and substantially ramp up production of its EX-7000™ Backpack Disinfectant Sprayer . Leveraging its advanced manufacturing technologies and global expertise, Flex's design engineers suggested design changes to make manufacturing more efficient before producing thousands of sprayers at Flex's South Carolina facility. EMist approved the changes, and 67 days after the engagement began, the first units rolled off the assembly line and into the hands of users around the globe. A typical product ramp takes approximately 120 days. According to a recent Consumer Reports...
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May 5, 2021
Flex Reports Fourth Quarter and Fiscal 2021 Results
Flex (NASDAQ: FLEX) today announced results for its fourth quarter and fiscal year ended March 31, 2021. Fourth Quarter Fiscal Year 2021 Highlights: Net Sales: $6.3 billion GAAP Income Before Income Taxes: $260 million Adjusted Operating Income: $310 million GAAP Net Income: $240 million Adjusted Net Income: $248 million GAAP Earnings Per Share: $0.47 Adjusted Earnings Per Share: $0.49 Fiscal Year 2021 Results of Operations: Net Sales: $24.1 billion GAAP Income Before Income Taxes: $714 million Adjusted Operating Income: $1.0 billion GAAP Net Income: $613 million Adjusted Net Income: $795 million GAAP Earnings Per Share: $1.21 Adjusted Earnings Per Share: $1.57 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. "We are very pleased with our strong fourth quarter results," said Revathi Advaithi, Chief Executive Officer for Flex. "Our progress on our multi-year transformation...
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