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© luchschen dreamstime.com Electronics Production | July 23, 2013

Sanmina reports revenue USD 1.49bn

Sanmina's revenue for the third quarter was USD 1.49 billion, compared to USD 1.43 billion in the prior quarter and USD 1.55 billion for the third quarter of fiscal 2012.
"I am pleased with our third quarter results. We continue to benefit from improved efficiencies and favorable business mix. Our outlook for the fourth quarter is modest growth with further improvements in our operating model. I am excited about our future as we continue to invest in people and technology to create more value for our customers," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.

Third Quarter Fiscal 2013 Summary
  • Revenue of $1.49 billion
  • GAAP operating margin of 2.4 percent
  • GAAP diluted earnings per share of $0.22

Revenue for the third quarter was $1.49 billion, compared to $1.43 billion in the prior quarter and $1.55 billion for the third quarter of fiscal 2012.

GAAP operating income in the third quarter was $35.7 million or 2.4 percent of revenue, compared to $35.4 million or 2.3 percent of revenue for the third quarter of fiscal 2012. GAAP net income in the third quarter was $18.7 million, compared to $8.9 million for the third quarter of fiscal 2012. GAAP diluted earnings per share for the quarter were $0.22, compared to $0.11 in the third quarter of fiscal 2012.

Cash and cash equivalents for the quarter ended June 29, 2013 were $416.4 million. Cash flow from operations was $66.1 million for the quarter. Inventory turns were 6.9. Cash cycle days were 48.3 days.

Fourth Quarter Fiscal 2013 Outlook
  • Revenue between $1.475 billion to $1.525 billion
  • Non-GAAP diluted earnings per share between $0.37 to $0.43

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