Flex Ltd. announced its FY17 Q3 results with net sales of $6.1 bn and adjusted net income of $183 mn, resulting in a net profit margin of 3%. The quarterly sales and net income were down by 10% and 7% respectively as compared to FY16 Q3 numbers.
However, the management maintained that the results were well within the guidance issued for this quarter and that the company was undergoing a structural shift towards higher margin businesses and generating higher value to its shareholders. They also indicated that the FY17 Q4 net sales will likely be in the range of $5.5-5.9 bn.
