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© begemot 30 dreamstime.com Electronics Production | April 26, 2016

Plexus keeps on trucking - positioned for a strong 3Q

EMS provider Plexus saw second quarter improvements in both revenues and profit compared to the first quarter of the year – however, YoY, figures are declining.
Plexus recorded second quarter revenues of USD 619 million, within the company's guidance of USD 600 – 630 million, and an increase from 1Q16 but a decrease compared to the same quarter last year of USD 651 million.

Operating margin in the quarter ended up at 3.8%, compared to 3.5% in 1Q16 and 4.5% in 2Q15. Net income amounted to USD 16.78 million during the company's second quarter of 2016, up from USD 14.44 million in 1Q16, but down from USD 23.59 million in the same quarter last year.

Dean Foate, Chairman, President and CEO, commented, “The greatly improved operational performance in our fiscal second quarter sets up our expectation that we will return to our target operating margin range of 4.7% to 5.0% in our fiscal third quarter; one quarter ahead of earlier expectations. With fiscal third quarter revenue anticipated to be in the range of USD 640 to USD 670 million, we expect non-GAAP diluted EPS in the range of USD 0.73 to USD 0.81, before any restructuring charges.”

For the third quarter 2016, Plexus expects revenues of USD 640 to USD 670 million.

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