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Electronics Production | November 18, 2006

Sanmina-SCI reports lower Q4 revenue

Sanmina reported fourth quarter revenue of $2.72 billion, compared to $2.77 billion in the same period last year.
Revenue for fiscal year 2006 amounted to $11.0 billion compared with $11.7 billion in fiscal 2005. The financial guidance that follows has not been prepared on the basis of generally accepted accounting principles. Each of the items listed below has been prepared excluding stock compensation expense, restructuring expense and other items consistent with the Company's historical definition of non-GAAP measures(1).

Pending the results of the Company's restatement and completion of the annual audit, the Company expects to report the following financial results for its fourth fiscal quarter ended September 30, 2006, a net (loss)/earnings per share in the range of $(0.01) to $0.01, gross margins of approximately 4.8% and operating margins of approximately 1.2%. Results for the quarter were unfavorably impacted primarily by the Company's decision to exit certain product-lines related to the realignment of its Original Design Manufacturing ("ODM") businesses.

On a similar basis, the Company expects to report for its third quarter ended July 1, 2006, gross margins of 6.1% and operating margins of 2.6%. These metrics are consistent with previous guidance issued on July 17, 2006. For fiscal year 2006, the Company expects to report earnings per share in the range of $0.18 to $0.20, gross margins of approximately 5.8% and operating margins of approximately 2.2%.

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