© Sanmina via Youtube Electronics Production | January 28, 2020
Sanmina ‘We remain focused on driving profitable revenue growth’
The EMS provider recorded 2020 first quarter revenues of USD 1.84 billion, which is a YoY decrease from USD 2.18 billion during the same period 2019.
Operating income for the quarter amounted to USD 57.18 million, compared to USD 77.54 million for the first quarter 2019. Net income ended up at USD 38.34 million, and increase from USD 37.95 for the same period last year. "We are pleased with our results for the first quarter. Revenue and non-GAAP earnings per share exceeded the high-end of our outlook. Our focus on operational execution and financial discipline is evident in our results," says CEO Hartmut Liebel, in a press release. "We remain focused on driving profitable revenue growth, lean, high-performance manufacturing processes and cash generation." The company is anticipating sequential revenue decline in the second fiscal quarter, mainly as the result of seasonality. For the second quarter of 2020, Sanmina is expecting revenues between USD1.70 billion to USD 1.80 billion.