Global supply chain solutions major Flextronics International Ltd. (NASDAQ:FLEX) reported its first quarter of 2015 earnings yesterday after market close. Post the earnings release, company Chief Financial Officer and Senior Vice President – Finance, Christopher E. Collier in an interview on CNBC shared his insights on the strong first quarter performance of the technology solutions firm.
“We are very pleased with our June quarter results that we have just posted. We had strong growth at the top, the middle and the bottom line”. He went on to highlight that “Year over year, our June were revenue was up 15 percent in all four of our business groups and exceeded expectations,” Mr. Collier said.
Profits for the quarter, was up to $174 million for the quarter as against the $59 million in the first quarter of 2014. Similarly, adjusted EPS for the first quarter was 25 cents as against the 18 cents reported a year earlier for the same quarter. Overall revenue for the quarter came in at $6.64 billion as against the $5.79 billion it had clocked in first quarter of 2014.
Indicating the buoyancy in its business, Flextronics International Ltd. (NASDAQ:FLEX) went on to give a strong guidance for second quarter operations. It anticipates adjusted EPS to come in the range of 22 to 26 cents and hopes to ring in revenue in the range of $6.2 to $6.6 billion.
Sharing the secret behind Flextronics International Ltd. (NASDAQ:FLEX) ability to overcome a difficult operating environment to grow its business, Mr. Collier indicated that: “We are continuously finding opportunities to enter new domains, new spaces, new segments of business.”
Flextronics International Ltd. (NASDAQ:FLEX)’s CFO also went on to list out other standout performances in the first quarter by calling out, “our operating profit grew 34 percent year on year” and indicated that it was for the sixth straight quarter where they expanded their operating profits.