Nolan’s Notes: Soldering Technologies
The Knowledge Base: The Impact of Harsh Environments on Residue Tolerance
Standard of Excellence: Hiring for Quality Positions in Manufacturing, Engineering, and Management
Sanmina Reports Q4 and Fiscal 2024 Financial Results
November 6, 2024 | SanminaEstimated reading time: 1 minute
Sanmina Corporation, a leading integrated manufacturing solutions company, reported financial results for the fourth quarter and fiscal year ended September 28, 2024 and outlook for its fiscal first quarter ending December 28, 2024.
Fourth Quarter Fiscal 2024 Financial Highlights
- Revenue: $2.02 billion
- GAAP operating margin: 4.4%
- GAAP diluted EPS: $1.09
- Non-GAAP(1) operating margin: 5.3%
- Non-GAAP(1) diluted EPS: $1.43
Fiscal Year 2024 Financial Highlights
- Revenue: $7.57 billion
- GAAP operating margin: 4.4%
- GAAP diluted EPS: $3.91
- Non-GAAP(1) operating margin: 5.4%
- Non-GAAP(1) diluted EPS: $5.28
Additional Highlights
- Cash flow from operations: Q4 $52 million and FY'24 $340 million
- Free cash flow(2): $29 million in Q4 and $231 million in FY'24
- Share repurchases: 0.9 million shares for $65 million in Q4 and approximately 4.0 million shares for $227 million in FY'24
- Q4 ending cash and cash equivalents: $626 million
"We finished the year with solid momentum. Our fourth quarter revenue was up 9.6 percent sequentially, and non-GAAP diluted earnings per share was up 14.3 percent over the prior quarter and exceeded our outlook. We saw growth in the majority of our end-markets, primarily with strength from the communications networks and cloud infrastructure," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.
"Our fiscal year 2024 results were in line with our expectations as we managed a challenging first half with improvements in the second half of the year. While our revenue was impacted for the year, we delivered another solid year of cash flow from operations. Furthermore, we demonstrated our commitment to return value to our shareholders by repurchasing 4 million shares for $227 million in fiscal 2024."
"The team has done an excellent job navigating the market dynamics and the Company continues to demonstrate resilience. Based on the forecasts from our customers and currently healthy demand levels, we expect fiscal 2025 to be a growth year," concluded Sola.
First Quarter Fiscal 2025 Outlook
The following outlook is for the fiscal first quarter ending December 28, 2024. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.925 billion to $2.025 billion
- GAAP diluted earnings per share between $1.03 to $1.13
- Non-GAAP diluted earnings per share between $1.30 to $1.40
Share on:
Suggested Items
Mycronic Introduces New Machine Models to Its High-Performance Pick-And-Place Platform MYPRO A40
12/06/2024 | MycronicMycronic, the leading Sweden-based electronics assembly solutions provider, is introducing two new machine models MYPro A40SX and A40LX to its next-generation MYPro A40 pick-and-place platform, equipped with the all-new MX7 high-speed mounthead technology.
Telecom EMS Sector Embraces Green Manufacturing Practices
12/06/2024 | Globe NewswireThe global market for Telecom Electronic Manufacturing Services (EMS) was estimated at US$213.4 Billion in 2023 and is projected to reach US$319.5 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030.
Growth Unfolds: The First of STARTEAM’s Trio of Factories Set to Expand
12/05/2024 | STARTEAM GLOBALSTARTEAM is thrilled to share news of our upcoming 3-step expansion at JST, with each step adding 50,000m² per month which began on May 27, 2024. This carefully planned extension is designed to significantly increase our production capacity and expand our talented team. Currently, our production space covers 30,000m². Through this expansion, we are setting our sights on incrementally increasing our capacity from 70,000m²/month to a remarkable 130,000m²/month.
American Standard Circuits Earns IATF 16949 Automotive Re-Certification
12/05/2024 | American Standard CircuitsAnaya Vardya, President and CEO of American Standard Circuits and ASC Sunstone has announced that his company’s West Chicago Division has passed their recent IATF 16949 Automotive re-certification.
Consumer Electronics Manufacturing Market to Surge Valuation Set to Hit $4,267 Billion by 2034 at 9.5% CAGR
12/05/2024 | Globe NewswireAccording to a new study published by Fact.MR, a market research and competitive intelligence provider, the worldwide Consumer Electronics Manufacturing Market is projected to increase from a value of US$ 1,727.94 billion in 2024 to US$ 4,267.27 billion by the end of 2034.