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Electronics Production |
Plexus strong in tough times
EMS-provider Plexus recorded a steady fourth quarter – revenues were above the midpoint guidance – and net income slightly up from the previous quarter.
The company recorded revenues of USD 568 million during its Q4, above the midpoint of our guidance range, but down modestly from the prior quarter. Revenues for the full year of 2013 were USD 2.23 billion, down 3.4% from prior year.
Dean Foate, Chairman, President and CEO, commented, "During the quarter, we won 34 new programs in our Manufacturing Solutions group; we anticipate these wins will generate approximately USD 155 million in annualized revenue when fully ramped into production. The wins performance this quarter results in trailing four quarter wins of approximately USD 703 million in annualized revenue, or 31% of trailing four quarter revenue."
Fourth quarter highlight:
- Revenue USD 567.7 million (USD 571.9 million Q3)
- Gross profit USD 54.5 million (USD 55.4 million Q3)
- Operation profit USD 26.7 million (USD 25.1 million Q3)
- Net income USD 24.4 (USD 23.2 million Q3)