SAN JOSE – Flex reported fiscal second quarter net sales ended Sept. 25 of some $6.3 billion, down 3.2% year-over-year and up 13.5% sequentially.

GAAP net income for the period was $123 million, down 11.5% year-over-year and up 10.8% sequentially.

Adjusted operating income for the second quarter increased 7% year-over-year to $196 million, and was up 23.3% sequentially.

"Our strong performance this quarter was reflected in our quarterly revenue growth, improved operating margins and our continued ability to operate with discipline," said Mike McNamara, chief executive officer.

"We generated $300 million in cash flow from operations and $143 million in free cash flow during the quarter," said Chris Collier, chief financial officer. "During the quarter we invested $142 million to repurchase almost 13 million shares, or over 2% of our ordinary shares."

For the third quarter ending Dec. 31, revenue is expected in the range of $6.2 billion to $6.8 billion.

Flex is the preferred name of Flextronics.