Sanmina-SCI post revenues of $3.3 Billion

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.”