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Plexus Reports Q2

NEENAH, Wis. — Plexus Corp. (Nasdaq:PLXS) today announced:

Q2 Fiscal 2011 Results (quarter ended April 2, 2011):

  • Revenue: $568 million, relative to guidance of $540 to $570 million
  • Diluted EPS: $0.59, including $0.07 per share of stock-based compensation expense, relative to guidance of $0.53 to $0.58 Q3 Fiscal 2011 Guidance:
  • Revenue: $550 to $580 million
  • Diluted EPS: $0.52 to $0.57, excluding any restructuring charges and including approximately $0.07 per share of stock-based compensation expense Dean Foate, President and CEO, commented, “Fiscal second quarter revenues were a record $568 million with EPS of $0.59. Both revenue and EPS were consistent with the high-end of the guidance range we provided last quarter. Return on invested capital was 16.8%, below our target, but still well above our weighted average cost of capital of 13.5%. During the fiscal second quarter we won 21 new programs in our Manufacturing Solutions group that we anticipate will generate approximately $134 million in annualized revenue when fully ramped into production. This is a good result and included strong performance by our medical sector, which represented $60 million of the total. Our Engineering Solutions group also enjoyed a strong quarter of new program wins, totaling approximately $18 million. We believe the continuing strength of our new business win performance is a direct result of our sector-based go-to-market strategy and confirmation of the power of the Plexus brand for delivering comprehensive Product Realization Value Steam Solutions. Of course, all future revenues are subject to the timing and ultimate realization of customer forecasts and orders.”

    Read the full press release.

    {complink 4345|Plexus Corp.}

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