Solectron also issued a financial forecast for the current quarter that was largely in line with analysts' estimates. The outlook from the contract maker of routers, servers and other electronics for brand-name customers comes after rival Jabil issued a revenue forecast below estimates on Wednesday that hit its shares and those of rivals.

Solectron executives said on a conference call that strength in its consumer, computing and storage businesses was offset by some declines in its business in the industrial sector. The company also said it believed it was benefiting from the ongoing consolidation in the communications market.

Solectron said net income for its first fiscal quarter ended Nov. 30 fell to $6 million, or 1 cent per share, from $24 million, or 3 cents per share, a year earlier. Revenue rose 22 percent to $3.0 billion.

By: DocMemory
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