-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Sanmina Reports Revenue of $1.71B in Q3 FY2017
July 25, 2017 | PRNewswireEstimated reading time: 1 minute
Sanmina Corp. has reported revenue of $1.71 billion for the third fiscal quarter ended July 1, 2017, up from $1.68 billion in the prior quarter and $1.67 billion for the same period of fiscal 2016.
GAAP operating income in the third quarter was $66.6 million or 3.9 percent of revenue, compared to $54.6 million or 3.3 percent of revenue for the third quarter fiscal 2016. GAAP net income in the third quarter was $36.4 million, compared to $29.5 million for the same period a year ago. GAAP diluted earnings per share were $0.47, compared to $0.38 in the third quarter of fiscal 2016.
Non-GAAP operating income in the third quarter was $71.4 million or 4.2 percent of revenue, compared to $61.9 million or 3.7 percent of revenue in the third quarter fiscal 2016. Non-GAAP net income in the third quarter was $58.0 million, compared to $48.2 million in the same period a year ago. Non-GAAP diluted earnings per share for the quarter were $0.74, compared to $0.63 for the same period a year ago.
"We delivered good results for the quarter. We continue to execute well and deliver consistent operating margin and solid cash generation," stated Jure Sola, Chairman and Chief Executive Officer. "Our customer base and pipeline of new opportunities remain solid. We are confident in our ability to drive operational improvements and growth in 2017 and execution of our strategy supports a promising future."
Balance Sheet Summary
- Ending cash and cash equivalents were $435.5 million
- Cash flow from operations was $59.0 million
- Repurchased 0.5 million common shares for $20.3 million
- Inventory turns were 6.1x
- Cash cycle days were 42.3 days
Fourth Quarter Fiscal 2017 Outlook
The following forecast is for the fourth fiscal quarter ending September 30, 2017. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.725 billion to $1.775 billion
- GAAP diluted earnings per share between $0.61 to $0.67, including stock-based compensation expense of $0.10 and amortization of intangible assets of $0.02
- Non-GAAP diluted earnings per share between $0.73 to $0.79
About Sanmina
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, storage, industrial, defense, medical, energy, and industries that include embedded computing technologies, such as point of sale devices, casino gaming and automotive. Sanmina has facilities strategically located in key regions throughout the world. For more information, click here.
Suggested Items
Incap Releases Unaudited Business Review for January–March 2024
05/08/2024 | IncapRevenue for the first quarter 2024 amounted to EUR 51.4 million (1–3/2023: EUR 72.2 million). Year-on-year the revenue decreased 29.3%, as expected.
Schweizer Electronic: Business Development in Q1 2024
05/08/2024 | Schweizer Electronic AGThe sales of the SCHWEIZER Group amounted to EUR 39.2 million in the first quarter of 2024 (Q1 2023: EUR 37.1 million). This corresponds to an increase of +5.5 percent compared to the same quarter of the previous year.
Key Tronic Announces Results for Q3 of Fiscal Year 2024
05/08/2024 | Globe NewswireFor the third quarter of fiscal year 2024, Key Tronic reported total revenue of $140.5 million, compared to $164.6 million in the same period of fiscal year 2023.
Fabrinet Announces Q3 Fiscal Year 2024 Financial Results
05/07/2024 | FabrinetFabrinet, a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced its financial results for its third fiscal quarter ended March 29, 2024.
Tablet Shipments Show Signs of Recovery in Q1 2024
05/06/2024 | IDCAfter more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24), totaling 30.8 million units, according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.