Sanmina CEO: ‘we exceeded our expectations’

“I am pleased to report that revenue grew 4% over the prior quarter and that we exceeded our expectations for revenue, margin and earnings per share, despite the continued challenges associated with COVID-19 and the macroeconomic environment,” says Hartmut Liebel, Chief Executive Officer, in a press release. “I am encouraged by the actions taken by our leadership team and employees to control expenses while continuing to meet our commitments and the demands of our customers.” The EMS provider recorded revenues of USD 1.65 billion during the third quarter of 2020, up from the previous quarter but down from USD 2.02 billion during the same quarter last year. Operating income for the quarter amounted to USD 64.1 million, down from USD 67.3 million for 3Q19. Net income amounted to USD 44.48 million during the third quarter of 2020, compared to USD 42.92 million for the same period last year. For the fort quarter of the year, the EMS provider is targeting revenue between USD 1.73 billion to USD 1.83 billion.