SAN JOSE,  Aug. 26 -- The world's largest EMS provider today reiterated its profit forecast for the September quarter, telling analysts concerns about inventory were "way overblown." 

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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