Sanmina Corp. Reports Earnings Unaudited Consolidated Results for the First Quarter Ended December 30, 2017; Provides Earnings Guidance for the Second Quarter of Fiscal 2018
January 29, 2018 at 09:10 pm
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Sanmina Corp. reported unaudited consolidated earnings results for the first quarter ended December 30, 2017. For the quarter, the company reported net sales of $1,744,800,000 against $1,719,977,000 a year ago. Operating income was $13,788,000 against $58,656,000 a year ago. Income before income taxes was $11,089,000 against $54,847,000 a year ago. Basic loss per share was $2.16 against earnings per share of $0.61 a year ago. Diluted loss per share was $2.16 against earnings per share of $0.58 a year ago. GAAP Net loss was $154,910,000 against net profit of $44,864,000 a year ago. GAAP basic loss per share was $2.16 against earnings per share of $0.61 a year ago. GAAP diluted loss per share was $2.16 against earnings per share of $0.58 a year ago. Non-GAAP operating income was $47.5 million or 2.7% of revenue, compared to $71.7 million or 4.2% of revenue in the first quarter fiscal 2017. Non-GAAP net income in the first quarter was $36.5 million, compared to $57.7 million in the same period a year ago. Non-GAAP diluted earnings per share for the quarter was $0.48, compared to $0.75 for the same period a year ago.
The company provided earnings guidance for the second quarter of fiscal 2018. For the quarter, the company expects revenue between $1.60 billion to $1.70 billion. Expects GAAP diluted earnings per share between $0.20 to $0.30, including stock-based compensation expense of $0.17 and amortization of intangible assets and restructuring costs of $0.03. Expects Non-GAAP diluted earnings per share between $0.40 to $0.50.
Sanmina Corporation is a provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. The Company provides these offerings primarily to original equipment manufacturers (OEMs), in industries, such as industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure. The Company's operations are managed as two businesses: Integrated Manufacturing Solutions (IMS) and Components, Products and Services (CPS). IMS business consists of printed circuit board assembly and test, high-level assembly and test and direct-order-fulfillment. Its CPS components include printed circuit boards, backplanes and backplane assemblies, cable assemblies, fabricated metal parts, precision machined parts, and plastic-injected molded parts. Its products include memory solutions, high-performance storage platforms, optical, radio frequency (RF) and microelectronic (microE) design and manufacturing services and others.
Sanmina Corp. Reports Earnings Unaudited Consolidated Results for the First Quarter Ended December 30, 2017; Provides Earnings Guidance for the Second Quarter of Fiscal 2018