Plexus reports on 3Q/2017 revenue increase

• Won 32 Manufacturing Solutions programs during the quarter representing approximately USD 220 million in annualized revenue when fully ramped into production
• Trailing four quarter Manufacturing Solutions wins total approximately USD 839 million in annualized revenue when fully ramped into production
• Purchased USD 10 million of own shares at an average price of USD 52.40 per share
• Initiates fiscal fourth quarter 2017 revenue guidance of USD 660 to 700 million with GAAP diluted EPS of USD 0.77 to 0.87

Todd Kelsey, President and CEO, commented, “I am pleased we delivered fiscal third quarter revenue and GAAP EPS above the midpoint of our guidance range. Our continued strong operating performance enabled us to achieve our fifth consecutive quarter within or above our target operating margin range of 4.7 to 5.0 percent. We expect fiscal fourth quarter revenue to increase significantly as a result of ramping previously reported program wins. Consequently, we are guiding fiscal fourth quarter revenue in the range of USD 660 to 700 million. At this revenue level, in conjunction with continued strong operating performance, we anticipate GAAP EPS in the range of USD 0.77 to 0.87. Our wins momentum and qualified funnel of opportunities remain robust, giving us confidence that we can achieve meaningful growth in fiscal 2018.” Patrick Jermain, Senior Vice President and CFO, commented, “Our fiscal third quarter ROIC was 16.1 percent, a result that is 560 basis points above our weighted average cost of capital and exceeds our 500 basis point Economic Return goal. Consistent with our expectations, fiscal third quarter working capital requirements increased to support new program ramps occurring during the fiscal fourth quarter. Despite the additional working capital requirements, we delivered approximately USD 7 million of free cash flow during the quarter and expect to improve on this result during the fiscal fourth quarter.” © Plexus