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flex . PRESS RELEASE EXHIBIT 99.1 FLEX REPORTS FIRST QUARTER FISCAL 2022 RESULTS San Jose , Calif . , July 29 , 2021 first quarter ended July 2 , 2021 . - Flex ( NASDAQ : FLEX ) today announced results for its First Quarter Fiscal Year 2022 Highlights : • Net Sales : $ 6.3 billion GAAP Income Before Income Taxes : $ 233 million • Adjusted Operating Income : $ 290 million • GAAP Net Income : $ 206 million . Adjusted Net Income : $ 230 million • GAAP Earnings Per Share : $ 0.41 • Adjusted Earnings Per Share : $ 0.46 An explanation and reconciliation of non - GAAP financial measures to GAAP financial measures is presented in Schedules II and V attached to this press release . " Flex's strong first quarter performance exceeded our prior expectations due to broad - based demand across our portfolio and solid execution , delivering record Q1 adjusted operating margin and EPS " said Revathi Advaithi , Flex Chief Executive Officer . " We remain focused on driving profitable growth through disciplined execution and our differentiated capabilities . " Second Quarter Fiscal 2022 Guidance • Revenue : $ 6.1 billion to $ 6.5 billion • GAAP Income Before Income Taxes : $ 175 million to $ 210 million • Adjusted Operating Income : $ 250 million to $ 290 million • GAAP EPS : $ 0.29 to $ 0.35 which includes $ 0.05 for stock - based compensation expense and $ 0.03 for net intangible amortization • Adjusted EPS : $ 0.37 to $ 0.43 Fiscal Year 2022 Guidance updated • Revenue : $ 25.5 billion to $ 26.5 billion • GAAP EPS : $ 1.42 to $ 1.57 which includes $ 0.19 for stock - based compensation expense and $ 0.09 for net intangible amortization • Adjusted EPS : $ 1.70 to $ 1.85 Webcast and Conference Call The Flex management team will host a conference call today at 8:00 AM ( PT ) / 11:00 AM ( ET ) , to review first quarter fiscal 2022 results . A live webcast of the event and slides will be available on the Flex Investor Relations website at http://investors.flex.com . An audio