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Electronics Production | July 21, 2011

Plexus reports declining 3Q profit; issues weak outlook

Neenah (WI / USA) based EMS-provider Plexus reports 3Q revenues of USD 559 million. The company expects fiscal fourth quarter revenue to be modestly down sequentially.

Dean Foate, President and CEO, commented, “We experienced an exceptional level of forecast volatility during the quarter as customers broadly lowered their demand for the second half of our fiscal year. As a consequence, our overall revenue performance in the fiscal third quarter was below the mid-point of our guidance range. (...) We continue to experience strong business development by our medical sector, which represented USD 55 million of this total. In another positive trend, our funnel of qualified business opportunities increased meaningfully during the quarter to USD 2.0 billion. Of course, all future revenues are subject to the timing and ultimate realization of customer forecasts and orders." © Plexus “Volatility in our customer forecasts and uncertainty about the end markets are reflected in our fiscal fourth quarter revenue guidance range of USD 530 - 560 million. This guidance range suggests that our fiscal fourth quarter revenue will be modestly down sequentially when compared to our fiscal third quarter", he continues in saying. Market sector breakout Plexus reports revenue based on the market sector breakout set forth in the table below, which reflects the Company’s focus on its global business and market development sector strategy. © Plexus
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