SAN JOSE, CA – Flex reported fiscal fourth quarter net sales were approximately $5.9 billion, up 1.6% year-over-year.

GAAP net income was $87 million for the quarter ended Mar. 31, an increase of 42.6% compared to the same period last year. Adjusted operating income was $205 million, up 2.5% year-over-year.

"We remain committed to our Sketch-to-Scale strategy and are thrilled to have delivered 14 straight quarters of year-over-year operating margin expansion," said CEO Mike McNamara. "We have built a business model that produces outstanding cash flow consistently year after year. We have generated positive operating cash flow in 23 of our past 24 quarters. For the year, cash flow from operations totaled $1.15 billion, and free cash flow was $660 million."

Net sales for the fiscal year ended Mar. 31 were $23.9 billion, down 2.3% year-over-year. GAAP net income was $320 million, down 28%.
Adjusted operating income was $815 million, up 2.9% compared to fiscal 2016.

For the first quarter ending June 30, revenue is expected to be in the range of $5.7 billion to $6.1 billion.

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