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© homiel-dreamstime.com Electronics Production | January 29, 2013

Sanmina's big drop

GAAP net income in the first quarter was USD 621 thousand, compared to USD 8.6 million for the same period a year ago.
First Quarter Fiscal 2013 Summary
  • Revenue of USD 1.49 billion
  • GAAP operating margin of 2.1 percent
  • Revenue for the first quarter was USD 1.49 billion, compared to USD 1.58 billion in the prior quarter and USD 1.50 billion for the same period of fiscal 2012.

GAAP operating income in the first quarter was USD 31.5 million or 2.1 percent of revenue, compared to USD 39.7 million or 2.6 percent of revenue for the same period ended December 31, 2011.

Cash and cash equivalents for the quarter ended December 29, 2012 were USD 490.7 million. Cash flow from operations was USD 97.1 million for the quarter.

"First quarter revenue and EPS were below expectations due to weak demand across most of our market segments," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "Our second quarter guidance reflects seasonality along with continued uncertainty in the macro-environment. Based on the pipeline of new business opportunities and the ramping of new programs in fiscal 2013, we should see improvements in the second half of the year."

The company is expecting revenues between USD 1.40 billion to UST 1.45 billion for the second quarter of 2013
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December 13 2018 1:08 pm V11.10.14-2