SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
Standard of Excellence: Overcoming Service Failures—The Art of the Apology
Nolan’s Notes: Tariffs, Technologies, and Optimization
Sanmina Reports Q2 Fiscal 2016 Revenue of $1.61B
April 26, 2016 | PRNewswireEstimated reading time: 2 minutes
Sanmina Corporation, a leading integrated manufacturing solutions company, today reported financial results for the second fiscal quarter ended April 2, 2016.
Second Quarter Fiscal 2016 Summary
- Revenue of $1.61 billion
- GAAP operating margin of 3.8 percent
- GAAP diluted earnings per share of $0.39
- Non-GAAP(1) operating margin of 4.1 percent
- Non-GAAP(1) diluted earnings per share of $0.63
Revenue for the second quarter was $1.61 billion, compared to $1.53 billion in the prior quarter and $1.53 billion for the same period of fiscal 2015.
GAAP operating income in the second quarter was $61.1 million or 3.8 percent of revenue, compared to $49.7 million or 3.3 percent of revenue in the second quarter fiscal 2015. GAAP net income in the second quarter was $30.4 million, compared to $14.7 million for the same period a year ago. GAAP diluted earnings per share for the quarter were $0.39, compared to $0.17 in the second quarter of fiscal 2015.
Non-GAAP operating income in the second quarter was $65.4 million or 4.1 percent of revenue, compared to $56.6 million or 3.7 percent of revenue in the second quarter fiscal 2015. Non-GAAP net income in the second quarter was $49.3 million, compared to $43.4 million in the same period a year ago. Non-GAAP diluted earnings per share for the quarter were $0.63, compared to $0.50 for the same period a year ago.
"Solid execution coupled with growth in the majority of our market segments drove improvements in our results for the second quarter. Revenue was up sequentially and year over year, and we achieved our highest earnings per share in over ten years," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "Strong cash generation provides us flexibility to continue to invest in technologies and businesses that further enhance our differentiation in the market and provide industry leading value to our customers. As we further diversify our business, we remain confident our financial results will continue to improve," concluded Sola.
Balance Sheet Summary
- Ending cash and cash equivalents were $407.3 million
- Cash flow from operations was $142.6 million
- Repurchased 4.0 million common shares for $74.7 million
- Inventory turns were 6.5x
- Cash cycle days were 44.6 days
Third Quarter Fiscal 2016 Outlook
The following forecast is for the third fiscal quarter ending July 2, 2016. These statements are forward-looking and actual results may differ materially.
- Revenue between $1.625 billion to $1.675 billion
- Non-GAAP diluted earnings per share between $0.61 to $0.65
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, storage, industrial, defense, medical, energy and industries that include embedded computing technologies such as, point of sale devices, casino gaming and automotive. Sanmina has facilities strategically located in key regions throughout the world.
Share on:
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
Firefly Aerospace Announces Strategic Acquisition of SciTec to Advance National Security Capabilities
10/07/2025 | Firefly AerospaceFirefly Aerospace, a market leading space and defense technology company, has entered into a definitive agreement to acquire SciTec, Inc., a leader in advanced national security technologies, for approximately $855 million through a combination of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50 per share.
High-Tech Hill Technology Park Opens: Four New Factories Launched
09/26/2025 | TeltonikaThe ambitious vision announced in late 2020 to build a world-class technology park in Liepkalnis, Vilnius, has become a reality. AGP Investments, led by entrepreneur Arvydas Paukštys, together with high-tech leaders Teltonika and TLT, today inaugurated four new factories at the Vilnius High-Tech Hill Technology Park.
U.S. Manufacturing Jobs Decline Amid Tariffs and Immigration Crackdown
09/17/2025 | I-Connect007 Editorial TeamManufacturers in the U.S. are cutting jobs even as President Donald Trump pushes policies he says will revitalize the industry. Employers shed 12,000 manufacturing jobs in August, while payrolls in the sector have fallen by 42,000 since April, according to a new analysis from the Center for American Progress (CAP) based on government labor data.
Defense Speak Interpreted: If CHIPS Cuts Back, What Happens to Electronics Packaging Funds?
09/02/2025 | Dennis Fritz -- Column: Defense Speak InterpretedIn my May column, I examined the topic of the CHIPS Act and its current status as a U.S. government program. I found that CHIPS activities continue, but some corporations have delayed or canceled them because of budget cuts or corporation-specific problems. However, CHIPS integrated circuits—mostly administered by the Department of Commerce—don’t fully drive the electronics interconnection activity being funded by the government. Let’s cover the progress/status of other programs:
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.