© batman2000 dreamstime.com Electronics Production | January 29, 2019
Sanmina feels the momentum
The EMS provider is can look back at a solid first quarter for fiscal 2019. The company saw its revenues increase both sequentially as well as YoY.
"We delivered revenue of $2.19 billion, up 16.6 percent sequentially, operating margin expanded 80 basis points from last quarter to 3.9 percent and earnings per share were up 40 percent to $0.83 compared to the prior quarter. Our first quarter financial performance reflects solid momentum across all of our end-markets," says Michael Clarke, Chief Executive Officer, in a press release. Revenues for the company’s first quarter of fiscal 2019 amounted to USD 2.19 billion, up from USD 1.87 billion in 4Q18, and USD 1.74 billion for the same period last year. GAAP operating income amounted to USD 77.54 million during the first quarter, compared to USD 9.81 million for the last quarter of 2018, and USD 13.78 million during 1Q18. GAAP net income ended up at USD 37.95 million in 1Q19, a significant increase from USD 9.81 million in 4Q18, and a really big leap from the loss of 154.91 million during the first quarter of 2018. "Looking ahead, our customer base and pipeline remain solid. Based on our solid first quarter results and with our outlook for the second quarter, we are confident we will profitably grow revenue and strengthen our financial results in fiscal 2019," Clarke continues in the release.