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Electronics Production | January 26, 2006

Record first fiscal quarter for Plexus

Plexus announced that revenues in its first fiscal quarter ended December 31, 2005 increased 14% to a record $328.3 million from $287.5 million in the comparable prior-year period, which ended January 1, 2005.
Net income in the first fiscal quarter of 2006 was $12.6 million.The prior period's net income was $3.0 million, or $0.07 per fully diluted share, which included $0.9 million, or $0.02 per fully diluted share, of restructuring costs. Although there were no pro-forma adjustments for restructuring costs in the current quarter, a reconciliation of the GAAP net income and EPS to the non-GAAP pro-forma statement for the prior-year period is attached.

Dean Foate, President and CEO commented, “We are extremely pleased with the strong operational performances by our business units in the first fiscal quarter. Revenues and earnings exceeded our previous guidance to the investment community, and our after-tax Return on Capital Employed (ROCE) improved to an annualized 19%.”
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