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© blotty dreamstime.com Electronics Production | April 26, 2016

Sanmina doubles 2Q profit

EMS provider Sanmina second quarter revenues were up sequentially and year over year.
Revenues for the second quarter was USD 1.61 billion, compared to USD 1.53 billion in the prior quarter and USD 1.53 billion for the same period of fiscal 2015.

GAAP operating income in the second quarter was USD 61.1 million or 3.8 percent of revenue, compared to USD 49.7 million or 3.3 percent of revenue in the second quarter fiscal 2015. GAAP net income in the second quarter was USD 30.4 million, compared to USD 14.7 million for the same period a year ago.

"Solid execution coupled with growth in the majority of our market segments drove improvements in our results for the second quarter. Revenue was up sequentially and year over year, and we achieved our highest earnings per share in over ten years," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.

"Strong cash generation provides us flexibility to continue to invest in technologies and businesses that further enhance our differentiation in the market and provide industry leading value to our customers. As we further diversify our business, we remain confident our financial results will continue to improve," concluded Sola.

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