Sanmina Reports Q3 Financial Results

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Sanmina Corporation, has reported financial results for the third quarter fiscal 2019 ended June 29, 2019.

"Revenue exceeded our outlook at $2.03 billion, as we experienced solid demand from a broad set of customers. Non-GAAP diluted EPS was at the high-end of our outlook at $0.82 and we generated free cash flow of $139 million for the quarter," stated Michael Clarke, Chief Executive Officer.

Balance Sheet and Cash Flow

• Ending cash and cash equivalents: $414.3 million
• Cash flow from operations: $165.5 million

"As we look to the fourth quarter, the materials environment is stabilizing and we believe we are at a more normalized revenue run rate.  We are committed to controlling costs, driving efficiencies and leveraging our operating model to improve profitability.  The team remains focused on excellence in quality, delivery and consistently meeting the needs of our customers.  We have a solid foundation and promising future," added Clarke. 

Fourth Quarter Fiscal 2019 Outlook

The following outlook is for the fourth fiscal quarter ending September 28, 2019.  These statements are forward-looking and actual results may differ materially.

• Revenue between $1.9 billion to $2.0 billion
• GAAP diluted earnings per share between $0.61 to $0.71
• Non-GAAP diluted earnings per share between $0.73 to $0.83

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, cloud solutions, industrial, defense, medical and automotive. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.