Flextronics International Ltd. announced unaudited consolidated earnings results for third quarter and nine months ended December 31, 2013. For the quarter, the company's net sales were $7,183.4 million compared with $6,123.3 million a year ago. Operating income was $174.0 million compared with $34.9 million a year ago. Income from continuing operations before income taxes was $153.7 million compared with $45.8 million a year ago. Income from continuing operations was $145.2 million or $0.23 per share compared with $54.6 million or $0.08 per share a year ago. Net income was $145.2 million or $0.23 per share compared with $47.3 million or $0.07 per share a year ago. Non-GAAP income from continuing operations earnings per share was $0.26 compared with $0.22 a year ago. Non-GAAP net income per share was $0.26 compared with $0.21 a year ago. Non-GAAP operating income was $187.2 million compared with $146.1 million a year ago. Non-GAAP income from continuing operations was $163.8 million compared with $148.2 million a year ago. Non-GAAP net income was $163.8 million compared with $140.9 million a year ago. Free cash flow of $614 million for the quarter consists of GAAP net cash flows from operating activities of $764 million less purchases of property and equipment net of dispositions of $150 million.

For the nine-months, the company's free cash flow was $657 million consisting of GAAP net cash flows from operating activities of $1.1 billion less purchases of property and equipment net of dispositions of $461 million.

For the fourth quarter ending March 31, 2014, the company's revenue is expected to be in the range of $5.9 billion to $6.3 billion and adjusted EPS is expected to be in the range of $0.18 to $0.22 per diluted share. GAAP earnings per share is expected to be lower than the guidance provided herein by approximately $0.05 to $0.06 per diluted share for the costs associated with SG&A reductions, and $0.03 per diluted share for intangible amortization and stock-based compensation expense.

The company continues to expect that operating effective tax rate will be in the 8% to 10% range, absent any discrete one-time items. Fiscal 2014 free cash flow target of approximately $400 million by over 50%. The company expects capital expenditures will be below depreciation levels beginning in fourth quarter and throughout the calendar year 2014.