Flextronics (FLEX) F1Q11 Earnings Call July 22, 2010 5:30 AM EST Executives Warren Ligan – SVP, Investor Relations and Treasury Paul Read – CFO Mike McNamara – CEO Analysts Brian Alexander – Raymond James Matt Sheerin – Stifel Nicolaus Brian White – Ticonderoga Wamsi Mohan – Merrill Lynch Amit Daryanani – RBC Capital Markets Sherri Scribner – Deutsche Bank Amitabh Passi – UBS John Harrison – Longbow Research Alex Blanton – Ingalls & Snyder Louis Miscioscia – Collins Stewart Jim Suva – Citi PresentationOperator
Good afternoon, and welcome to the Flextronics International First Quarter Fiscal Year 2011 Earnings Conference Call. Today’s call is being record and all lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. At this time, for opening remarks and introductions, I would like to turn the call over to Mr. Warren Ligan, Flextronics Senior Vice President, Investor Relations and Treasury. Sir, you may begin. Warren Ligan Thank you, operator, and good afternoon, everyone, and welcome to Flextronics conference call to discuss our results for our fiscal 2011 first quarter ended July 2 nd, 2010. With us on the call today is our Chief Executive Officer, Mike McNamara; and our Chief Financial Officer, Paul Read. The presentation that corresponds to our comments today is posted on the Investor section of our website under Conference Calls and Presentations. Also, please note, that we have recently upgraded the Investor section of our website to include additional information we believe investors will fine helpful. During the call today, Paul will first review our financial results, and Mike will comment on the business environment and demand trends for our company. Mike will also give guidance for the second quarter of fiscal 2011 ending on October 1 st, 2010, and conclude with quarterly highlights, and following that, we will take your questions. Please turn to slide two. This presentation contains forward-looking statements within the meaning of US Securities Law, including statements related to revenue and earnings guidance, our expectation about our future operating margins and return on invested capital, expected revenue growth in our market segments, expected improvements in profitability of our components business unit, our expectations about the availability of components for our products, the expected changes and savings associated with our restructuring activity and our expectations regarding end market demand for our products and our business in the current economic environment.