Sanmina Posts $1.54B Revenue for 3Q FY2015

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Sanmina Corp. has reported a revenue of $1.54 billion for the third fiscal quarter ended June 27, 2015, slightly up from the prior quarter's $1.53 billion, but down from $1.60 billion in the same period of fiscal 2014.

GAAP operating income in the third quarter was $47.3 million or 3.1 percent of revenue, compared to $53.3 millionor 3.3 percent of revenue for the same period ended June 28, 2014. GAAP net income in the third quarter was$24.5 million, compared to $20.7 million for the same period a year ago. GAAP diluted earnings per share for the quarter were $0.29, compared to $0.24 in the third quarter of fiscal 2014.

Non-GAAP operating income in the third quarter was $59.2 million or 3.8 percent of revenue, compared to $60.9 million or 3.8 percent of revenue in the third quarter fiscal 2014. Non-GAAP net income in the third quarter was $45.1 million, compared to $45.3 million in the same period a year ago. Non-GAAP diluted earnings per share were$0.53 for the third quarter in both fiscal years.

"We delivered solid results for the third quarter despite a mixed market environment.  Consistent execution coupled with ongoing diversification were key drivers for overall improvement in our financial results," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "We generated excellent cash flow from operations for the quarter which allowed us to accelerate our strategic initiatives and execute our share repurchase program creating value for our customers and shareholders."

"Our outlook for the fiscal fourth quarter reflects stabilization in the market. We remain confident the second half of the calendar year will continue to improve," concluded Sola.

Fourth quarter fiscal 2015 outlook

The following forecast is for the fourth fiscal quarter ending October 3, 2015.  These statements are forward-looking and actual results may differ materially. 

• Revenue between $1.55 billion to $1.65 billion
• Non-GAAP diluted earnings per share between $0.52 to $0.58

Company conference call information

Sanmina will hold a conference call regarding financial results for the third quarter of fiscal 2015 on Monday, July 20, 2015 at 5:00 p.m. ET (2:00 p.m. PT). The access numbers are: domestic 877-273-6760 and international 706-634-6605. The conference will also be broadcast live over the Internet. You can log on to the live webcast at the company's website. Additional information in the form of a slide presentation is available by logging onto Sanmina's website. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 855-859-2056 and international 404-537-3406, access code is 63475093.

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, Sanminaprovides end-to-end manufacturing solutions, delivering superior quality and support to OEMs primarily in the communications, defense and aerospace, industrial and semiconductor systems, medical, multimedia, computing and storage, automotive and energy and clean technology sectors. Sanmina has facilities strategically located in key regions throughout the world. To find more information about the company, click here.