SAN JOSE – Flextronics today reported fourth-quarter net sales of $6.9 billion, up 15% year-over-year.

The electronics manufacturing services provider said adjusted net income was $162 million, up 25% compared to the same quarter in 2010. Adjusted operating income increased 11% to $189 million year-over-year.

“In fiscal 2011 we achieved strong year-over-year growth that was broadly distributed across all of our market segments. Every segment grew double-digits, and overall for the year our company delivered $4.6 billion in organic growth," said CEO Mike McNamara.

“For fiscal 2011, we experienced strong operating leverage, growing our adjusted operating income 38% to $824 million, up from $598 million a year ago. In addition, during fiscal 2011, we generated $463 million in free cash flow, which helped us buy back $400 million or 6% of our outstanding shares,” said CFO Paul Read.

The firm’s board has authorized the repurchase of up to $200 million of the company's outstanding ordinary shares.

For its fiscal first quarter ending July 1, the company guided for revenue of $7.1 billion to $7.6 billion. In a conference call with analysts, the company said demand in its mobile segment would remain soft, but communication equipment revenue would begin to recover after a 12% slide in the March period.

The company forecast its mobile phone unit sales would be fall 10% sequentially in the upcoming period after dropping 15% in the fiscal fourth quarter. However, it expects program delays in communications to ramp in the June period, offseting the drop.

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