A profitable Q4 for Sanmina

Sanmina's revenue for the fourth quarter was USD 1.69 billion, compared to USD 1.60 billion in the prior quarter and USD 1.51 billion for the same period of fiscal 2013. Revenue for the full fiscal year of 2014 was USD 6.22 billion, compared to USD 5.92 billion for the fiscal year of 2013. "Solid execution coupled with stable demand from a majority of our market segments were the key drivers for overall improvement in our financial results. Revenue for the fourth quarter was up 5 percent sequentially and 12 percent over the fourth quarter last year," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. GAAP operating income in the fourth quarter was USD 61.5 million or 3.6 percent of revenue, compared to USD 44.7 million or 3.0 percent of revenue for the same period a year ago. GAAP operating income for fiscal year 2014 was USD 199.7 million, compared to USD 157.6 million in fiscal year 2013. GAAP net income in the fourth quarter was USD 132.5 million, compared to USD 38.8 million for the same period a year ago. GAAP net income for fiscal year 2014 was USD 197.2 million, compared to USD 79.4 million in fiscal year 2013. "In fiscal 2014, we delivered solid growth, margin improvement, EPS expansion and strong cash generation. Execution of our core strategy has delivered consistent and predictable results. We remain focused on the quality of our revenue, expanding our capabilities and providing value to our customers. With our revenue base exiting 2014, we are optimistic that 2015 will be another growth year for Sanmina," concluded Sola.