SAN JOSE – Flex reported fiscal fourth quarter net sales of $6.3 billion, up 14.3% year-over-year.

For the period ended Mar. 31, net income was $240 million, an increase of 400% compared to the same quarter last year.

Fiscal 2021 net sales amounted to $24.1 billion, down 0.36% year-over-year. Net income for the fiscal year was $613 million, up 596.6% compared to fiscal 2020.

"We are very pleased with our strong fourth quarter results," said Revathi Advaithi, CEO, Flex. "Our progress on our multi-year transformation during fiscal 2021 is reflected in our overall solid performance during a very challenging global environment this past year, and I am confident we will continue our positive momentum in FY22."

Flex forecasts fiscal first quarter revenue of $5.9 billion to $6.3 billion and GAAP Income before taxes of $160 million to $200 million. Adjusted operating income is expected in the range of $240 million to $280 million. For fiscal 2022, the company expects revenue between $25 billion and $26 billion.