Reports results in line with guidance, completes financing plan to strengthen balance sheet

March 22, 2002

1 Min Read

MILPITAS, Calif. -- Solectron Corporation (NYSE: SLR), a leading provider of electronics manufacturing and supply-chain management services, today reported fiscal second-quarter financial results within its previously stated range of guidance.Net sales in the quarter ended March 1 were $3 billion, compared with $5.4 billion in the year-earlier period and $3.2 billion in the first quarter of fiscal 2002. The company’s guidance was for second-quarter sales of $2.7 billion to $3.2 billion.Pro-forma cash earnings per share were 1 cent for the quarter, consistent with the company’s guidance of 1 to 4 cents. Excluding one-time charges and extraordinary gains, Solectron had a loss of $28.5 million, or 3 cents per diluted share. That is consistent with the company’s guidance for diluted EPS, excluding one-time charges, of break-even to a loss of 3 cents.Solectron reported a net loss of $126 million, or 15 cents per dilutedshare2, in the second quarter. That compares with net income of $121.9million, or 18 cents per diluted share, in the same period last year.Solectron Corp.

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