Sanmina Reports First Quarter Fiscal 2021 Financial Results

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Sanmina, a leading integrated manufacturing solutions company, has reported financial results for the fiscal first quarter ended January 2, 2021 and outlook for the fiscal second quarter ending April 3, 2021.

First Quarter Fiscal 2021 Financial Highlights

• Revenue: $1.76 billion, exceeded midpoint of outlook
• GAAP operating margin: 4.3 percent
• GAAP diluted EPS: $0.72
• Non-GAAP(1) operating margin: 5.0 percent
• Non-GAAP diluted EPS: $1.02, exceeded outlook

Additional Highlights

• Non-GAAP pre-tax ROIC: 28.4 percent 
• Cash flow from operations: $62 million
• Free cash flow: $51 million 
• Shares repurchased: approximately 384,000 for $9.4 million 
• Ending cash and cash equivalents: $516 million 

"Fiscal 2021 is off to a good start. Our continued focus on driving operational efficiencies and ability to provide increased value to our customers are evident in our solid financial results for the quarter," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.

"Our outlook for the second quarter reflects relatively stable demand across our customer base and takes into account typical seasonality.  We remain focused on new and innovative solutions for our customers and growth opportunities that support our long-term financial objectives. As we look ahead, we are committed to executing our growth strategy and delivering greater value to our shareholders."

Second Quarter Fiscal 2021 Outlook

The following outlook is for the first fiscal quarter ending April 3, 2021.  These statements are forward-looking and actual results may differ materially. 

• Revenue between $1.65 billion to $1.75 billion
• GAAP diluted earnings per share between $0.63 to $0.73
• Non-GAAP diluted earnings per share between $0.76 to $0.86