December 19, 2001 |
Solectron Corp., the world's largest contract electronics manufacturer, reported a fiscal first-quarter loss of $52.5 million, or 9 cents a share, on sharp declines in its personal computer and telecommunications operations. Solectron also said it would borrow up to $2 billion, partly to meet its short-term obligation to repurchase some notes due in January.
June 5, 2007 |
Flextronics International Ltd. said it would buy rival Solectron Corp. for $3.6 billion in cash and stock to cut costs and expand its product line. The merger between the biggest U.S. companies in the contract electronics industry would create a company with more than $30 billion in annual revenue and a workforce of about 200,000 people, they said. Under the deal, each Solectron share will be swapped for either 0.3450 Flextronics share or $3.89 cash.
April 5, 2000 |
Nortel Networks Corp. said it agreed to sell its plants in North America and Europe for $900 million to Solectron Corp., which will supply more than $10 billion in parts and services to Nortel under terms of the deal. Solectron, the No. 1 contract maker of electronics, plans to keep all 4,190 workers at the facilities, which test products, assemble phones and make circuit boards. Nortel will buy testing, manufacturing and repair services from Milpitas, Calif.-based Solectron.
June 18, 2004 |
Solectron Corp., a contract manufacturer for top technology companies, significantly narrowed its third-quarter loss as sales picked up after a long slump. The Milpitas, Calif., company, which counts Cisco Systems Inc., IBM Corp. and Nortel Networks Corp. among its customers, on Thursday reported $3.04 billion in sales in the fiscal quarter ended May 31, up 29% from the same quarter a year ago. It lost $65 million, or 8 cents a share, compared with a $2.7-billion loss, or $3.
March 25, 2005 |
Contract electronics manufacturer Solectron Corp. posted a drop in quarterly revenue and forecast more declines in the second half of the year and said it would restate three years of results. Shares fell 9% in after-hours trading after Solectron posted a narrower net loss and operating earnings below the analyst consensus. The company, which makes products for name-brand corporations, also cited a "deep decline" in the outlook for general demand for products the company makes.
March 21, 2003 |
Solectron Corp., a Silicon Valley-based manufacturer of electronics equipment, said Thursday that it would lay off 12,000 people, about 16% of its workforce. The company said it didn't know where the jobs would be lost. Solectron is based in Milpitas and has operations in Cypress, but its factories are spread throughout the Americas, Europe and Asia. Spokeswoman Birgit Johnston said the cutbacks would happen over the next several quarters. "We'll tell our employees first," she said.