SAN JOSE -- Flex announced fiscal fourth quarter revenues rose 9.2% over a year ago, boosting the EMS firm to a record year.

For the period ended Mar. 31, the EMS/ODM reported net sales of $6.9 billion, up from $6.27 billion in the year ago quarter.

GAAP net income and gross profit trended lower. Net income was $168 million, down 35%, while gross profit fell $4 million, to $505 million in the period. Adjusted net income was $244 million.

Operating income was $228 million, while adjusted operating income reached $295 million.

For its 2022 fiscal year, Flex had net sales of $26 billion, up 8%. Operating income jumped to $972 million from $795 million in fiscal 2021, and net income shot up 53% to $936 million.

"Flex achieved record performance this year, reflective of the team's incredible execution and dedication to deliver for our customers and all our stakeholders," said Revathi Advaithi, CEO, Flex. "We have strong momentum as we head into fiscal year 2023 and we remain focused on driving sustainable growth, margin improvement, and creating shareholder value."

Flex guided for fiscal first quarter revenue of $6.6 billion to $7.0 billion, GAAP operating income of $235 million to $265 million and adjusted operating income of $285 million to $315 million.

For fiscal 2023, the company expects revenue of $27.7 billion to $28.7 billion.

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