NEW YORK (TheStreet) -- Shares of Flextronics International Ltd. (FLEX) - Get Report are up 5.18% to $10.79 today after reporting net sales for the second quarter of $6.5 billion, up from $6.4 billion a year ago.
The global provider of supply chain solutions reported adjusted earnings per diluted share of 26 cents in the second quarter compared to 22 cents a year ago.
"We continued to deliver strong cash flow generation with cash flow from operations of $387 million and free cash flow of $322 million during the quarter," CFO Chris Collier said, adding, "We further demonstrated our commitment to return value to shareholders by repurchasing another 9.3 million shares during the quarter for $101 million."
Additionally, for the third quarter, revenue is expected to be in the range of $6.4 to $6.8 billion, and adjusted earnings per share is expected to be in the range of 24 cents to 28 cents per diluted share, the company said.
Separately, TheStreet Ratings team rates FLEXTRONICS INTERNATIONAL as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FLEXTRONICS INTERNATIONAL (FLEX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: FLEX Ratings Report