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Flextronics' Management Discusses At UBS Global Technology And Services - Conference Call Transcript

Flextronics International Ltd. (FLEX)

UBS Global Technology and Services Conference Call

November 16, 2011 3:30 PM ET

Executives

Paul Read – Chief Financial Officer

Kevin Kessel – VP, Investor Relations

Analysts

Amitabh Passi – UBS

Presentation

Amitabh Passi

Okay. Thank you everybody. I think we’ll go ahead and get started. Good afternoon. And welcome to the UBS Technology and Services Conference. My name is Amitabh Passi. I’m the senior analyst covering the technology supply chain companies and wireless handset companies. It’s my pleasure to welcome Flextronics here today.

I will be doing this in a fireside chat format. I’ll ask a few questions and then please raise your hand if you have questions. And presenting the company today is Paul Read, the CFO along with Kevin Kessel, VP of Investor Relations. So thank you, Paul.

Paul Read

Thank you. Thanks for having us.

Amitabh Passi

So, Paul, maybe we are sort of six weeks into the December quarter. I was hoping you could start off maybe by just giving a sense of sort of from a macro perspective, how’s business trending relative to your expectations earlier when you provided guidance? Where are you seeing upside risk, downside risk?

Paul Read

Yeah. Where I would probably characterize it is, this is continuing to be soft demand environment generally across the Board. Every month seems to get a little bit weaker, not drastically, no major corrections, but definitely a slower trend.

There’s pockets of improvements. Seasonally you have consumer products launching or delivering this -- last quarter this quarter, so there is that seasonal benefit. But I think we saw a big correction in the September quarter of the semi cap equipment. That correction has slowed down. It’s still little soft but it’s kind of bottoming out and so that’s probably one of the headwinds here.

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