Flex announced its fourth quarter and full year consolidated financial results for the year ended on March 31, 2018. Net sales for Q4 2018 were $6.41 billion, an increase of 9.3%, compared to $5.86 billion in Q4 2018. GAAP net loss for Q4 2018 was $20 million, compared to the GAAP income of $87 million in Q4 2017.
Net sales for the fiscal 2018 were $25.44 billion, an increase of 6.6%, compared to $23.86 billion in last fiscal 2017. GAAP net income for fiscal 2018 was $429 million, an increase of 34%, compared to $329 million in fiscal 2017.
In fiscal 2018, Flex made considerable revenue growth among its business segments. High Reliability Solutions (HRS) segment which consists of Medical and Automotive business units recorded the revenues of $1.25 billion in Q4 2018, 20% up, compared to $1.04 billion in Q4 2017. Industrial & Emerging Industries (IEI) revenues grew to $1.63 billion from $1.29 billion, an increase of 26.3%. Consumer Technologies Group (CTG) recorded grew to $1.64 billion from $1.53 billion, up by 7%. Communications & Enterprise Compute (CEC) saw slight down fall in revenues and recorded revenues of $1.87 billion, 5.6% down, compared to $1.98 billion in Q4 2018.
Flex, in its guidance for first quarter ending June 2018, expects the revenues to be in the range of $6.3 to $6.7 billion.
