Sanmina-SCI reports loss

The company lost 1.4 million USD in the quarter compared to last years profit fo 13.1 million USD. Revenue was 1.46 billion USD down from 1.57 billion USD a year ago. "As we expected, our second quarter continued to be challenged by relatively flat demand across most of our markets and a decline in the multimedia segment," stated Jure Sola, Chairman and Chief Executive Officer. "We were able to take advantage of this slower demand period by generating $60 million of cash from operations and redeeming $150 million of long-term debt in the quarter, with an additional $100 million redeemed on April 9(th). Our net interest expense savings is expected to be approximately $20 million on an annual basis." The company expects to see improved results in the third quarter, with revenue between $1.475 billion to $1.525 billion.