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Solectron Reports Sequential Revenue Increase of 10.5 Percent in First Quarter 2004
December 26, 2003 |Estimated reading time: Less than a minute
Milpitas, Calif. — Solectron Corp. has reported GAAP sales of $2.7 billion in the first quarter of fiscal 2004, a 10.5 percent increase from GAAP sales of $2.4 billion in the fourth quarter of fiscal 2003.
Pro forma sales were $3.1 billion, up 10.7 percent from $2.8 billion in the fourth quarter of fiscal 2003 and at the upper end of the company's guidance of $2.7 billion to $3.1 billion. Solectron had pro forma sales of $2.9 billion in the first quarter a year ago.
Earlier this month, Solectron signed a definitive agreement to sell Dy 4 Systems for $110 million in cash. Other companies to be divested are Kavlico Corp.; SMART Modular Technologies Inc.; Stream International Inc.; Solectron's MicroTechnology division; and Solectron's 65 percent interest in U.S. Robotics Corp. The company plans to announce the name of one other company included in discontinued operations when it reaches a more advanced stage in the divestiture process.
Solectron Corp. is a leading provider of electronics manufacturing and integrated supply chain services. For more information, visit www.solectron.com