Flextronics Quarter in Line

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Flextronics (FLEX) - Get Report squeaked by with light sales and guided slightly below fiscal first-quarter expectations.

The Singapore-based electronic manufacturing contractor posted an adjusted profit of $122 million, or 20 cents a share, for the fiscal fourth quarter ended last month. Those numbers compare with pro forma profit of $98 million, or 16 cents, a year ago.

Sales in the most recent quarter were $4.7 billion, up 23%, or $1.1 billion over year-ago levels.

Analysts had expected Flextronics to report a 20-cent pro forma profit on $4.8 billion in revenue, according to Reuters Research.

"We are very pleased with our record-breaking fourth quarter and fiscal year results," CEO Mike McNamara said in a press release.

Looking ahead, Flextronics expects to book an adjusted profit of 21 cents a share on $4.9 billion in sales in the fiscal first quarter. Analysts were looking for 22 cents of profit on $5 billion in sales.

Flextronics shares rose 14 cents to $11.40 in postclose trading Thursday.