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© adam121 dreamstime.com Electronics Production | January 25, 2016

Plexus first quarter – within guidance

EMS provider Plexus recorded revenues of USD 617 million during its first quarter 2016, in its upper range of the company's guidance of USD 600 – 625 million.
While the company's first quarter revenues was within the company's guidance it did drop YoY from USD 664.6 million in 1Q15 to USD 616.6 million in 1Q16.

Gross profit amounted to USD 50 million, down from USD 61.4 million during the corresponding quarter last year. Operating profit ended up at USD 21.5 million, down slightly from USD 28.7 in the first quarter of 2015. Net income amounted to USD 14.44 million, down from USD 23.07 million during 1Q15. Operating margin was 3.5%.

Dean Foate, Chairman, President and CEO, commented, “Fiscal first quarter revenue and EPS results were largely in-line with our guidance. Consistent with the expectations we set last quarter, we are guiding our fiscal second quarter revenue sequentially flat at the midpoint of our guidance range, as new program ramps offset revenue lost from the two previously announced program disengagements. Fiscal second quarter 2016 revenue guidance is USD 600 to USD 630 million with diluted EPS in the range of USD 0.47 to USD 0.55 before restructuring charges.”

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