Electronics Production | November 01, 2004

Sanmina-SCI post revenues of $3.3 Billion

Sanmina-SCI reported revenues of $12.2 billion for the year ended October 2, 2004, compared to $10.4 billion for the year ended September 27, 2003. Revenues reported for the fourth quarter were $3.3 billion, up 7.5% sequentially, and up 20.8% from the fourth quarter 2003.
Non-GAAP net income for the quarter was $41.8 million, up 21.5% over the prior quarter and non-GAAP diluted earnings per share were $0.08. Non-GAAP net income for year ended October 2, 2004 was $128.9 million. Non-GAAP operating income for the quarter was $77.6 million, an increase of 12.9% over the prior quarter and up 57.4% year-over-year. GAAP net income for the quarter was $11.5 million, up 113.4% year-over-year.

In the fourth quarter ended October 2, 2004, financial management ratios strengthened over the third quarter ended June 26, 2004 as cash cycle days improved 2 days to 29 days, inventory turns improved to 11.5x from 10.4x, and DSO improved 2 days to 45 days. At October 2, 2004, the Company reported $1.1 billion in cash and short-term investments. At quarter-end, the Company reported a current ratio of 1.6, working capital of $1.7 billion, and stockholders’ equity of $3.4 billion.

“We continue to focus on improving all of our operating metrics and continue to see positive growth in most of our end markets,” said Jure Sola, Chairman and Chief Executive Officer of Sanmina-SCI. Looking forward, Mr. Sola added, “The outsourcing opportunities for EMS companies are increasing, and Sanmina-SCI is well positioned for future and organic growth, offering customers complete end-to-end solutions that include design, engineering, manufacturing and logistics. We will also continue to focus on our customers, add new programs, develop advanced technologies and drive operational efficiencies. We believe our commitment to excellence is fundamental to extending our EMS leadership and exceeding the expected growth rates of the industry.”


Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
July 18 2018 5:55 pm V10.0.0-1