Flextronics has a poor record in terms of operational execution and acquisitions , the most recent evidence being the $ 6 billion write - down of goodwill in 2009 . Overall , the company's track record as a steward of its shareholders capital is far from encouraging . Competition in contract
Benchmark's results depend on a handful of key customers, and the large drop in revenues from Sun Microsystems' JAVA in the last two years shows the degree to which customer defections can hurt the company.Benchmark's performance is largely dependent on the end-markets of its customers and is thus
Sanmina-SCI SANM reported its fiscal fourth-quarter results, and we are maintaining our fair value estimate. Revenue was $1.35 billion, a 21% fall from the fourth quarter of 2008, but 12% above last quarter. Sanmina saw its operating margin improve 70 basis points to 0.6%, and free cash flow was ...
Plexus PLXS reported fiscal fourth-quarter results, and we are maintaining our fair value estimate. For fiscal 2009, revenue fell 12% to $1.6 billion. Still, when compared with its major competitors, Plexus continues to be a top performer. With almost all of its peers seeing sales fall 20% or more
Flextronics FLEX reported fiscal 2010 second-quarter results Monday, and we are leaving our fair value estimate unchanged. Sales were $5.8 billion, roughly flat quarter over quarter, supporting our belief that contract manufacturing still has not been meaningfully lifted by the improving economic
Celestica CLS reported third-quarter results Oct. 22, and we are maintaining our fair value estimate. Sales were $1.6 billion, 23% below last year's figure, but up 11% over its June quarter. Excluding restructuring, Celestica's operating margin was 3.2%, and free cash flow was $137 million, its
Due to improving conditions in the electronics manufacturing services (EMS) industry, we are lowering our uncertainty rating to high from very high for Benchmark BHE, Celestica CLS, Flextronics FLEX, and Jabil Circuit JBL. These companies have done a good job generating cash since the downturn