SAN JOSE – Flex posted fiscal first quarter net sales of $6.3 billion, up 23.1% year-over-year.
For the quarter ended July 2, net income was $206 million, an increase of 296.2% compared to the fiscal first quarter of 2020. Income before taxes was $233 million, up 247.8%.
"Flex's strong first quarter performance exceeded our prior expectations due to broad-based demand across our portfolio and solid execution, delivering record first quarter adjusted operating margin and EPS," said Revathi Advaithi, CEO, Flex. "We remain focused on driving profitable growth through disciplined execution and our differentiated capabilities."
For the fiscal second quarter, Flex expects revenue of $6.1 billion to $6.5 billion and GAAP income before taxes of $175 million to $210 million. Adjusted operating income is expected to be $250 million to $290 million.
For fiscal 2022, guidance has been updated to revenue of $25.5 billion to $26.5 billion.