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flex . PRESS RELEASE EXHIBIT 99.1 FLEX REPORTS SECOND QUARTER FISCAL 2022 RESULTS - San Jose , Calif . , October 27 , 2021 – Flex ( NASDAQ : FLEX ) today announced results for its second quarter ended October 1 , 2021 . Second Quarter Fiscal Year 2022 Highlights : • Net Sales : $ 6.2 billion • GAAP Operating Income : $ 237 million • • GAAP Net Income : $ 336 million • Adjusted Operating Income : $ 286 million Adjusted Net Income : $ 233 million GAAP Earnings Per Share : $ 0.69 which includes $ 0.30 non - cash income related to a favorable operational tax ruling Adjusted Earnings Per Share : $ 0.48 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 . " Our fiscal second quarter was another strong result for Flex , achieving year over year revenue growth in our Agility and Reliability segments , as well as EPS and margin expansion . I would like to thank our team for their exceptional execution , managing through the supply chain challenges , " said Revathi Advaithi , Flex Chief Executive Officer . " We remain focused on driving profitable growth and margin expansion through organic and inorganic investments . " Third Quarter Fiscal 2022 Guidance • • • Revenue : $ 6.1 billion to $ 6.5 billion GAAP Operating Income : $ 210 million to $ 250 million Adjusted Operating Income : $ 250 million to $ 290 million GAAP EPS : $ 0.30 to $ 0.36 which includes $ 0.05 for stock - based compensation expense and $ 0.03 for net intangible amortization Adjusted EPS : $ 0.38 to $ 0.44 Fiscal Year 2022 Guidance Updated • Revenue : $ 24.8 billion to $ 25.8 billion GAAP EPS : $ 1.71 to $ 1.86 which includes $ 0.19 for stock - based compensation expense and $ 0.11 for net intangible amortization offset by ( $ 0.31 ) for restructuring and other gains primarily related to $ 0.30 non - cash income from a favorable operational tax ruling recorded in Q2FY22 Adjusted EPS : $ 1.70 to $ 1.85