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Plexus kicks off 2019 with a strong first quarter
During the EMS provider’s first quarter for the fiscal year 2019 the company recorded revenues of USD 766 millions, withing the company’s guidance of USD 750 million to USD 790 million.
Plexus 1Q19 revenues amounted to USD 766 million, compared to USD 677 million during the same quarter in 2018. The company’s 1Q19 gross profit amounted to 72.38 million, up from USD 63.5 million during the same quarter last year. Plexus did also report a first quarter net income of 22.2 million after reporting a loss of USD 98.4 million during 1Q18. “Our fiscal first quarter results were aligned with our expectations entering the quarter. We delivered revenue of $766 million and non-GAAP EPS of $0.91, which represented increases of 13% and 21%, respectively, over the comparable period in fiscal 2018,” says president and CEO, Todd Kelsey, in a press release. The CEO goes on to explain that the company did win several new manufacturing programs during the quarter. “Within the fiscal first quarter our teams delivered $230 million of new manufacturing wins, consisting of a healthy mix of programs with new and existing customers, bringing our trailing four quarter wins to a recent high of $920 million. When we couple the new wins strength with largely stable end markets in our non-traditional sectors, we expect a solid growth year in fiscal 2019,” the CEO says. Going into the fiscal second quarter, the company expect new program ramps will offset weakness in the semiconductor capital equipment market. Therefore, Plexus is expecting revenue in the range of USD 760 million to USD 800 million.
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