Beyond the Board: Early Engagement Means Faster Prototyping for Defense Programs
Defense Speak Interpreted: The Autonomous Plane Battle—Skyborg Vs. Loyal Wingman
American Made Advocacy: Congress Back from Break With Work To Do
Sanmina Reports Q4, Fiscal 2023 Financial Results
November 7, 2023 | SanminaEstimated reading time: 1 minute
Sanmina Corporation, a leading integrated manufacturing solutions company, reported unaudited financial results for the fourth quarter and fiscal year ended September 30, 2023 and outlook for its fiscal first quarter ending December 30, 2023.
Fourth Quarter Fiscal 2023 Financial Highlights
- Revenue: $2.05 billion
- GAAP operating margin: 4.8%
- GAAP diluted EPS: $1.04
- Non-GAAP(1) operating margin: 5.7%
- Non-GAAP diluted EPS: $1.42
Fiscal Year 2023 Financial Highlights
- Revenue: $8.9 billion
- GAAP operating margin: 5.1%
- GAAP diluted EPS: $5.18
- Non-GAAP operating margin: 5.8%
- Non-GAAP diluted EPS: $6.26
Additional Highlights
- Cash flow from operations: Q4 $77 million and FY'23 $235 million
- Free cash flow: $39 million in Q4 and $45 million in FY'23
- Share repurchases: 603,776 shares for $33 million in Q4 and 1.58 million shares for $84 million in FY'23
- Q4 ending cash and cash equivalents: $668 million
- Q4 non-GAAP pre-tax ROIC: 26.4%
"We delivered strong fiscal 2023 financial results. Revenue was up 13 percent, non-GAAP operating margin expanded 80 basis points to 5.8 percent and non-GAAP earnings per share was up 34 percent year-over-year," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "Revenue for the fourth quarter was down 7 percent sequentially due to ongoing customer inventory adjustments primarily in the communications end-market. Despite lower revenue, we delivered consistent non-GAAP operating margin sequentially and a 40 basis point improvement compared to the same quarter a year ago."
"The team continues to demonstrate resilience in a dynamic market environment. Over the last year, we've made significant investments to support new programs, further diversify within our end-markets and expand our capabilities, positioning our business to capture future opportunities."
"Our first quarter outlook is down sequentially, driven by some customers continuing to adjust inventory levels and ongoing macroeconomic uncertainty. We expect headwinds for the next couple of quarters with an improvement in the back half of the year. We remain confident in our strategy and long-term financial performance," concluded Sola.
First Quarter Fiscal 2024 Outlook
The following outlook is for the fiscal first quarter ending December 30, 2023. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.85 billion to $1.95 billion
- GAAP diluted earnings per share between $0.98 to $1.08
- Non-GAAP diluted earnings per share between $1.20 to $1.30
Share on:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Curtiss-Wright to Supply Turret Drive Stabilization Systems for U.S. Army XM30 Combat Vehicle Prototypes
10/16/2025 | BUSINESS WIRECurtiss-Wright Corporation announced that it has been selected by American Rheinmetall to provide its Turret Drive Stabilization System (TDSS) for the prototype phase of the U.S. Army’s XM30 Combat Vehicle (CV) program, which was recently approved to advance to Milestone B, the Engineering and Manufacturing Development (EMD) phase.
Episode 6 of Ultra HDI Podcast Series Explores Copper-filled Microvias in Advanced PCB Design and Fabrication
10/15/2025 | I-Connect007I-Connect007 has released Episode 6 of its acclaimed On the Line with... American Standard Circuits: Ultra High Density Interconnect (UHDI) podcast series. In this episode, “Copper Filling of Vias,” host Nolan Johnson once again welcomes John Johnson, Director of Quality and Advanced Technology at American Standard Circuits, for a deep dive into the pros and cons of copper plating microvias—from both the fabricator’s and designer’s perspectives.
American Standard Circuits Achieves Successful AS9100 Recertification
10/14/2025 | American Standard CircuitsAmerican Standard Circuits (ASC), a leading manufacturer of advanced printed circuit boards, proudly announces the successful completion of its AS9100 recertification audit. This milestone reaffirms ASC’s ongoing commitment to the highest levels of quality, reliability, and process control required to serve aerospace, defense, space, and other mission-critical industries.
Imec Launches 300mm GaN Program to Develop Advanced Power Devices and Reduce Manufacturing Costs
10/13/2025 | ImecImec, a world-leading research and innovation hub in nanoelectronics and digital technologies, welcomes AIXTRON, GlobalFoundries, KLA Corporation, Synopsys, and Veeco as first partners in its 300mm gallium-nitride (GaN) open innovation program track for low- and high-voltage power electronics applications.
Renesas Powers 800 Volt Direct Current AI Data Center Architecture with Next-Generation Power Semiconductors
10/13/2025 | RenesasRenesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced that it is supporting efficient power conversion and distribution for the 800 Volt Direct Current power architecture announced by NVIDIA, helping fuel the next wave of smarter, faster AI infrastructure.