SAN JOSE – Flextronics today announced first-quarter record net sales of $8.4 billion, up 62% year-over-year. The results include the acquisition of Solectron, which Flextronics finalized during the third quarter last year.
 
Record adjusted operating profit for the period increased 83% compared to the same quarter last year, to $280 million. 
 
Record adjusted net income was $227 million, up 69% year-over-year.
 
Flextronics said it would repurchase up to 10% of its outstanding ordinary shares, joining rivals Benchmark and Jabil in stock repurchases.
 
For the second quarter, revenue is expected to be in the range of $8.5 billion to $9 billion.