© sanmina Business | August 15, 2016

Sanmina increased revenue for 3Q

Sanmina's revenue for the third quarter (ended July 2, 2016) was USD 1.67 billion, compared to USD 1.61 billion in the prior quarter and USD 1.54 billion for the same period of fiscal 2015.
Third Quarter Fiscal 2016 Summary
  • Revenue of USD 1.67 billion
  • GAAP operating margin of 3.3 percent
  • GAAP diluted earnings per share of $0.38

GAAP operating income in the third quarter was USD 54.6 million or 3.3 percent of revenue, compared to USD 47.3 million or 3.1 percent of revenue in the third quarter fiscal 2015. GAAP net income in the third quarter was USD 29.5 million, compared to USD 24.5 million for the same period a year ago. GAAP diluted earnings per share for the quarter were USD 0.38, compared to USD 0.29 in the third quarter of fiscal 2015.

"Results for the quarter were in line with our outlook. Revenue was up 3.6 percent sequentially and 8.5 percent year over year driven by the ramp of new programs," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "Executing our business plan, expanding our existing customer relationships and growing with new customers positions Sanmina for a better future. We will continue to invest in technologies and capabilities that strengthen our value proposition and enhance shareholder value," concluded Sola.

Fourth Quarter Fiscal 2016 Outlook

  • Revenue between USD 1.675 to 1.725 billion
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