Flextronics Shares Rally After Company Beats Quarterly Estimates

By Claudia AssisMarketWatch Pulse

Shares of Flextronics International Ltd. rose 6% late Monday after the San Jose, Calif.-based company reported better-than-expected fiscal second-quarter results. Flextronics said it earned $123 million in the quarter, or 22 cents a share, down from 23 cents a share a year ago. Adjusted for one-time items, the company reported earnings of 27 cents a share, up a penny from a year ago. Sales reached $6.32 billion, down from $6.53 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 25 cents a share on sales of $6.16 billion. Shares had ended the regular Monday session down 0.8%.

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