SINGAPORE (dpa-AFX) - Flex Ltd. (FLEX), a manufacturing company, on Wednesday announced that net income declined in the first quarter compared with the previous year.
For the quarter, net income declined to $18.7 million from $33.2 million in the prior year. Earnings per share were $0.35 versus 0.70 last year.
On the adjusted basis, net income decreased to $29.4 million from $37.9 million in the same quarter of the previous year.
Adjusted earnings per share were $0.54 versus $0.70 last year.
Analysts, on average, had expected the company to report $0.69 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA was $65.6 million from $70.6 million in the previous year.
Operating income fell to $47.3 million from $51.9 million in the same quarter of the previous year.
Revenue decreased to $86.8 million from $90.2 million last year.
Further, the company declared the first quarter dividend of $0.75 per share, totaling $41 million.
Looking ahead, the company reconfirmed its revenue to range about $340 million to $360 million for the full year 2025.
The company also anticipates adjusted EBITDA for the full year 2025 to be around $250 million to $270 million.
On Tuesday, Flex closed trading 1.25% higher at $42.27 on the Nasdaq. In the after-hours trading, it closed 2.98% lesser at $41.01.
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