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© designersart dreamstime.com Electronics Production | February 01, 2017

Based on 1Q results - Sanmina is optimistic about 2017

EMS provider Sanmina kicks off the new fiscal year by reporting revenue increases of 3% sequentially and 12% YoY – for 1Q17.
Revenue for the first quarter was USD 1.72 billion, compared to USD 1.67 billion in the prior quarter and USD 1.53 billion for the same period of fiscal 2016.

GAAP operating income in the first quarter was USD 58.7 million or 3.4 percent of revenue, compared to USD 54.1 million or 3.5 percent of revenue for the first quarter fiscal 2016. GAAP net income in the first quarter was USD 44.9 million, compared to USD 27.1 million for the same period a year ago.

"Solid execution and growth in our end-markets were key drivers for our improved financial results in the quarter. Revenue was up 3 percent sequentially and 12 percent year over year," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.

"Our value-added services, diversified markets and innovative technologies are key differentiators for Sanmina which allow us to capitalize on opportunities with new and existing customers. Based on our results for the first quarter and our outlook for the second quarter, we are optimistic that fiscal 2017 will be another growth year," concluded Mr. Sola.

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July 08 2017 11:27 AM V8.5.6-2