The electronics manufacturing services firm said Thursday that net income for the quarter ended Nov. 30 fell to $6 million, or a penny a share, from $24 million, or 3 cents a share, a year earlier.
Excluding items, Solectron earned $47.6 million, or 5 cents a share, from continuing operations in the latest quarter, meeting the Thomson First Call consensus analyst estimate.
Sales rose 22% to $2.9 billion from $2.46 billion a year earlier. First Call was expecting the company to record sales of $2.79 billion.
For the second quarter, Solectron expects to earn 4 cents to 6 cents a share from continuing operations, excluding items, on revenue of $2.8 billion to $3 billion.
First Call was expecting the company to earn 5 cents a share on revenue of $2.79 billion.
Shares of Solectron were up 8 cents to $3.28 in recent after-hours trading.