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Electronics Production | April 27, 2010

Sanmina-SCI: 2Q-revenue reaches USD 1.53 billion

Revenue for the second quarter was USD 1.53 billion, up 3.3% compared to USD 1.48 billion in the prior quarter ended January 2, 2010 and up 27.8% compared to USD 1.20 billion in the same period a year ago.
GAAP net income in the second quarter was USD 10 million, compared to net income of USD 59 million in the prior quarter. GAAP net loss for the same period a year ago was USD 38 million.

Non-GAAP gross profit in the second quarter was USD 120 million, or 7.8% of revenue, up 20 basis points, compared to gross profit of USD112 million, or 7.6% of revenue in the prior quarter. Non-GAAP gross profit for the same period a year ago was USD 71 million, or 5.9% of revenue.



Non-GAAP operating income was USD 56 million, up 14.7%, compared to USD 49 million in the prior quarter and up 390% compared to USD 11 million in the same period a year ago. Operating margin for the second quarter was 3.7%, up 40 basis points, compared to 3.3% in the prior quarter and a 270 basis point improvement compared to 1% in the second quarter fiscal 2009.

Non-GAAP net income in the second quarter was USD 24 million, compared to a net income of USD 18 million in the prior quarter. Non-GAAP net loss for the same period a year ago was USD 31 million.

Third Quarter Fiscal 2010 Outlook
• Revenue between $1.55 billion to $1.65 billion
• Non-GAAP diluted earnings per share between $0.30 to $0.36

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