Flex Q2 Beats; Sees Q3 $6.2-$6.4B Rev.

Contract electronics assembler Flextronis (FLEX) shares are down 19 cents, or 3%, at $6.92, in after-hours trading after the company reported fiscal Q2 sales and profit ahead of estimates but forecast Q3 revenue to merely meet estimates.

Sales rose 3.6% year over year to $5.83 billion, beat an average estimate of $5.77 billion, yielding profit per share of 13 cents, ahead of the average 9-cent estimate. The company forecast Q3 sales of $6 billion to $6.4 billion, and adjusted profit of 14 cents to 16 cents.

The revenue number is roughly in line, at the midpoint, with estimates for $6.24 billion, while the profit number is ahead of estimates of 13 cents.

The company said it’s on track to realize cost savings of $230 million to $260 million from restructuring efforts this fiscal year.