Flextronics (FLEX) Misses Q2 EPS by 1c

Flextronics (NASDAQ: FLEX) reported Q2 EPS of $0.23, $0.01 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $6.53 billion versus the consensus estimate of $6.44 billion.

Flextronics sees FY2014 EPS of $0.24-$0.28, versus the consensus of $0.26. Flextronics sees FY2014 revenue of $6.4-6.8 billion, versus the consensus of $6.56 billion.

"Our consistent execution continues to pay off with measured improvements across many areas of our business, including our operating margins, which improved for the sixth consecutive quarter," said Mike McNamara, chief executive officer at Flextronics.

"We are also pleased to have exceeded our revenue expectations in HRS and CTG in addition to posting $6.53 billion in sales," he added.

"We continued to deliver strong cash flow generation with cash flow from operations of $387 million and free cash flow of $322 million during the quarter," said Chris Collier, chief financial officer at Flextronics. "Additionally, we further demonstrated our commitment to return value to shareholders by repurchasing another 9.3 million shares during the quarter for $101 million," he added.

For earnings history and earnings-related data on Flextronics (FLEX) click here.

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