News / Flextronics in 'great shape' despite threat of Lenovo contract loss

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US high-tech supply chain specialist and contract electronics manufacturer Flextronics yesterday posted revenues of $6.2bn for the quarter up until the end of June, and an operating profit of $183m, significantly higher than the $5.8bn revenues and $137m operating profit it delivered in the same period last year.

“Our balance sheet is in great shape,” said chief executive Mike McNamara, referring to the company’s $1.35bn cash reserves – although deploying that in merger and acquisition activity was deemed unlikely, he said, ...