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The EMS provider assembles thin-film diode LCD modules for Seiko.
In a statement, Isomu Koike, president of Seiko Epson's Philippine plant, said, "This is the first time we have embarked on a close cooperation with another company and I believe that this partnership with IMI will be lasting and fruitful."
Based on server revenues, IBM remained the top vendor, with sales up 10.8% to $3.5 billion, good for a market share of 30.7%. Dell's revenue rose 20.1% to $1.1 billion, making it fastest growing OEM among top-tier vendors.
H-P led the way in shipments, with 463,489 units. Sun Microsystems showed the highest growth rate, with shipments up 38.4%, to 90,487 units.
Following a scheduled mid-quarter conference call, Flextronics CFO Bob Dykes said, "Growth continues very strongly and our business is looking very solid."
Flextronics reiterated July guidance for Q2 earnings of 15 to 18 cents per share before items.
In recent weeks several analysts had expresssed concern over rising inventories, particularly among makers of telecom and communications gear. On the call, chief executive Michael Marks pooh-poohed the negative sentiment, saying "concerns about inventories were way overblown in our industry."
Later, to a news service, Dykes said, "The September and December quarters are strong ones for us and therefore inventories will rise along with that."
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