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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) November 3, 2000
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SOLECTRON CORPORATION
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(Exact name of registrant as specified in charter)
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<S> <C> <C>
DELAWARE 1-11098 94-2447045
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
777 GIBRALTAR DRIVE, MILPITAS, CALIFORNIA 95035
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (408) 957-8500
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NOT APPLICABLE
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On November 3, 2000, the Registrant issued a press release regarding updated
guidance on sales and earnings per share for fiscal year 2001 which included the
following statements:
The following press release was issued at 6:00 a.m. PST and will be posted to
the home page at www.solectron.com
Media Contact: Analysts Contact:
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Kimi Nishita Thomas Alsborg
Solectron Corporation Solectron Corporation
+1 (408) 956 6213 (U.S.) +1 (408) 956 6614 (U.S.)
[email protected] [email protected]
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SOLECTRON UPDATES GUIDANCE
ON SALES, EPS FOR FY2001
For Immediate Release: Nov. 3, 2000
MILPITAS, Calif. -- Solectron Corporation (NYSE: SLR), the world's leading
provider of electronics manufacturing and supply-chain management services,
today updated its guidance on anticipated sales and earnings levels for fiscal
year 2001. The updated guidance reflects the potential impact of two
strategically important transactions, and related financing arrangements,
announced in the last three weeks.
Solectron said it now expects to generate full-year sales in excess of $23
billion, diluted earnings per share ranging from 99 cents to $1.02 and cash EPS,
excluding goodwill amortization and other intangible costs, of $1.22 to $1.25.
The company's previous guidance was for sales of more than $20 billion, diluted
EPS of $1.12 to $1.15 and comparable cash EPS of $1.18 to $1.21 in the fiscal
year that ends Aug. 31.
Solectron's updated guidance is contingent upon the successful completion of two
recently announced transactions, both of which are expected to close in the
company's fiscal second quarter, which ends March 2.
On Oct. 18, Solectron announced a joint cooperative agreement to acquire two
manufacturing facilities from Sony Corporation and to provide Sony with
manufacturing and supply-chain services.
On Oct. 31, Solectron announced its intention to make a voluntary cash offer to
purchase all outstanding common shares of NatSteel Electronics, the
sixth-largest electronics manufacturing services company. Concurrent with that
announcement, the company announced a related financing arrangement.
Strategically, the transactions are intended to broaden Solectron's
manufacturing capabilities and business base, strengthen its management team and
expand its geographic footprint.
All dollar figures are reflected in U.S. dollars.
SAFE HARBOR
This news release contains forward-looking statements based on current
expectations, forecasts and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially. These risks
and uncertainties include the risk of these transactions not closing, or not
closing on the anticipated schedule, failure to achieve expected synergy and
efficiencies of operations, component availability, risk of price fluctuation,
reliance on major customers, fluctuations in operating results, changes in
technology, competition, the ability to manage rapid growth, the ability to
manage business integration, risks associated with international sales and
operations, interest rate risk, environmental regulations, market risk, segment
risk, the ability to retain key personnel and intellectual property rights
enforcement. For a further list and description of risks and uncertainties, see
the reports filed by Solectron with the Securities and Exchange Commission,
specifically forms 8-K, 10-Q, S-3 and 10-K. Solectron disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
ABOUT SOLECTRON
Solectron (www.solectron.com), the world's leading supply-chain facilitator,
provides a full range of manufacturing and supply-chain management services to
the world's premier high-tech electronics companies. Solectron's offerings
include new-product design and introduction services, materials management,
high-tech product manufacturing, and product warranty and end-of-life support.
The company, based in Milpitas, Calif., employs more than 65,000 associates in
57 locations worldwide. Solectron is the first two-time winner of the Malcolm
Baldrige National Quality Award.
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SOLECTRON CORPORATION
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SOLECTRON CORPORATION
(Registrant)
Date: November 7, 2000
/s/ Susan S. Wang
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Susan S. Wang
Senior Vice President,
Chief Financial Officer and Secretary
(Principal Financial and Accounting Officer)
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