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Flextronics International Ltd

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BUSINESS
December 7, 2002 | From Bloomberg News
Flextronics International Ltd.'s Multek unit, a maker of printed circuit boards for other companies, said it would close plants in Irvine and Kumla, Sweden, to reduce costs. The facilities make the thin plates on which chips and other electronic components are placed. The Singapore-based company didn't indicate how many jobs would be affected. Flextronics shares rose 4 cents to $10.08 on Nasdaq.
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BUSINESS
April 28, 2004 | Alex Pham, Times Staff Writer
Flextronics International Ltd., the world's largest contract electronics manufacturer, said Tuesday that higher demand boosted sales, but restructuring costs drove down profit in its fiscal fourth quarter. The Singapore-based company, which has corporate offices in San Jose, posted net income of $16 million, or 3 cents a share, down 18% from $19.5 million in the same quarter a year ago. Sales rose to $3.8 billion, up 23% from $3.1 billion last year.
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BUSINESS
September 26, 2003 | From Reuters
Flextronics International Ltd., which was ordered by a jury to pay Beckman Coulter Inc. of Fullerton $934 million in a fraud case, said Thursday that it expected to appeal and that the final cost to the company would be less than $10 million. Flextronics shares fell $1.10 to $13.90 on Nasdaq. Beckman Coulter lost $1.75 to $44.95 on the New York Stock Exchange.
BUSINESS
September 26, 2003 | From Reuters
Flextronics International Ltd., which was ordered by a jury to pay Beckman Coulter Inc. of Fullerton $934 million in a fraud case, said Thursday that it expected to appeal and that the final cost to the company would be less than $10 million. Flextronics shares fell $1.10 to $13.90 on Nasdaq. Beckman Coulter lost $1.75 to $44.95 on the New York Stock Exchange.
BUSINESS
June 4, 2002
* General Motors Corp. said it will buy a $30-million stake in a Chinese minivan and mini-truck maker, moving into the largest sector of China's auto market. * Flextronics International Ltd., the second-largest maker of electronics for brand-name companies, cut its fiscal first-quarter profit forecast to 5 cents to 8 cents a share on revenue of about $3 billion from an April forecast of 10 cents to 13 cents on revenue of $3.3 billion.
BUSINESS
November 20, 1996 | Times Staff and Wire Reports
Flextronics International Ltd. agreed to buy a main production unit of Ericsson's business networks division in Sweden for between $100 million and $150 million. The San Jose-based electronics equipment maker said the acquisition will double its revenue to $1 billion next year. Its shares rose $5.25 to $33 on Nasdaq. The acquisition will be paid for initially through bank financing, followed by some equity financing, said Michael Marks, Flextronics chief executive.
BUSINESS
July 3, 2001 | Bloomberg News
Motorola Inc. and Flextronics International Ltd., the second-biggest contract electronics manufacturer, said they're changing the terms of a $30-billion, five-year agreement because of weaker-than-expected demand. The companies said they're removing the volume incentives and five-year terms of the deal under which Flextronics makes mobile phones, pagers and other devices for Motorola. They didn't specify new terms.
BUSINESS
November 23, 1999 | Bloomberg News
Flextronics International Ltd., which makes and assembles circuit boards and cell phones for other companies, agreed to buy rival DII Group Inc. for about $2.4 billion in stock to boost production and add customers. San Jose-based Flextronics will swap 0.805 share for each share of DII Group, valuing each DII share at $65.41, 26% more than Friday's close. Flextronics will get DII's 12,000 employees and 22 plants worldwide, making it the world's No.
BUSINESS
April 28, 2004 | Alex Pham, Times Staff Writer
Flextronics International Ltd., the world's largest contract electronics manufacturer, said Tuesday that higher demand boosted sales, but restructuring costs drove down profit in its fiscal fourth quarter. The Singapore-based company, which has corporate offices in San Jose, posted net income of $16 million, or 3 cents a share, down 18% from $19.5 million in the same quarter a year ago. Sales rose to $3.8 billion, up 23% from $3.1 billion last year.
BUSINESS
November 25, 2003
Hewlett-Packard Co. began selling a new line of computer data-storage products to challenge IBM Corp. and Dell Inc. * Attorneys for Flextronics International Ltd. asked a Santa Ana Superior Court judge to set aside a nearly $1 billion verdict against the firm won by Fullerton-based Beckman Coulter Inc., saying that there was no legal basis for it.
BUSINESS
December 7, 2002 | From Bloomberg News
Flextronics International Ltd.'s Multek unit, a maker of printed circuit boards for other companies, said it would close plants in Irvine and Kumla, Sweden, to reduce costs. The facilities make the thin plates on which chips and other electronic components are placed. The Singapore-based company didn't indicate how many jobs would be affected. Flextronics shares rose 4 cents to $10.08 on Nasdaq.
BUSINESS
June 4, 2002
* General Motors Corp. said it will buy a $30-million stake in a Chinese minivan and mini-truck maker, moving into the largest sector of China's auto market. * Flextronics International Ltd., the second-largest maker of electronics for brand-name companies, cut its fiscal first-quarter profit forecast to 5 cents to 8 cents a share on revenue of about $3 billion from an April forecast of 10 cents to 13 cents on revenue of $3.3 billion.
BUSINESS
July 3, 2001 | Bloomberg News
Motorola Inc. and Flextronics International Ltd., the second-biggest contract electronics manufacturer, said they're changing the terms of a $30-billion, five-year agreement because of weaker-than-expected demand. The companies said they're removing the volume incentives and five-year terms of the deal under which Flextronics makes mobile phones, pagers and other devices for Motorola. They didn't specify new terms.
BUSINESS
November 23, 1999 | Bloomberg News
Flextronics International Ltd., which makes and assembles circuit boards and cell phones for other companies, agreed to buy rival DII Group Inc. for about $2.4 billion in stock to boost production and add customers. San Jose-based Flextronics will swap 0.805 share for each share of DII Group, valuing each DII share at $65.41, 26% more than Friday's close. Flextronics will get DII's 12,000 employees and 22 plants worldwide, making it the world's No.
BUSINESS
November 20, 1996 | Times Staff and Wire Reports
Flextronics International Ltd. agreed to buy a main production unit of Ericsson's business networks division in Sweden for between $100 million and $150 million. The San Jose-based electronics equipment maker said the acquisition will double its revenue to $1 billion next year. Its shares rose $5.25 to $33 on Nasdaq. The acquisition will be paid for initially through bank financing, followed by some equity financing, said Michael Marks, Flextronics chief executive.
BUSINESS
September 4, 2002 | Bloomberg News
Microsoft Corp. hired a unit of Taiwan's Acer Inc. to make the Xbox video game console, seeking to cut costs and close the gap with market leaders Sony Corp. and Nintendo Co. Wistron Corp., the manufacturing arm of computer maker Acer, will make the console in its plant in Zhongshan, China, by the end of the year. Slack demand for the Xbox prompted the world's biggest software maker to drop prices in Europe for the second time last week.
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