Flextronics Beats, Guides Above Consensus (FLEX)

Flextronics International Ltd. FLEX reports Q3 earnings of $0 versus $0.24 estimate. Flextronics International Ltd. reports Q3 revenues of $7.83 billion versus estimates of $7.61 billion. "The breadth and strength of our competitive position continues to improve and is reflected in our value-added supply chain services and solutions being in high-demand," said Mike McNamara, CEO of Flextronics. "We continue to improve quarter-over-quarter with sales increasing to $7.8 billion. Flextronics' asset management continues to be outstanding and has driven substantial improvements in our return on invested capital (ROIC). For the quarter, ROIC increased to a record 33.6%, above the 30.1% of a year ago, and up from 31.9% last quarter, and profit improvement continues on a strong, consistent pace." Flextronic expects fourth quarter revenue to be between $7.1-$7.4 billion and adjusted EPS is expected to be in the range of $0.21-$0.23 per share.