Advertisement

News Wire

Sanmina-SCI Posts Q1 Returns

SAN JOSE, Calif. — Sanmina-SCI Corporation (“Sanmina-SCI” or the “Company”) (Nasdaq: SANM), a leading global Electronics Manufacturing Services (EMS) company, today reported financial results for the first fiscal quarter ended January 1, 2011.

First Quarter Fiscal 2011 Highlights

• Revenue of $1.66 billion
• Non-GAAP operating margin of 4.2 percent
• Non-GAAP diluted earnings per share of $0.45
• GAAP operating margin of 3.7 percent
• GAAP diluted earnings per share of $0.34

Revenue for the first quarter increased 12.5 percent to $1.66 billion, compared to $1.48 billion for the same period of fiscal 2010.

GAAP Financial Results

GAAP net income in the first quarter was $28 million, a diluted earnings per share of $0.34, compared to $59 million, a diluted earnings per share of $0.74 for the same period of fiscal 2010. GAAP net income in the first quarter of fiscal 2010 included a one-time benefit of $36 million, or $0.44 diluted earnings per share related to a litigation settlement.

Non-GAAP Financial Results(1)

Non-GAAP gross profit in the first quarter was $129 million, or 7.8 percent of revenue, compared to $112 million, or 7.6 percent in the same period a year ago.

Non-GAAP operating income in the first quarter was $69 million, or 4.2 percent of revenue, compared to $49 million, or 3.3 percent in the first quarter fiscal 2010.

Non-GAAP net income in the first quarter was $37 million, a diluted earnings per share of $0.45, compared $18 million, a diluted earnings per share of $0.23 for the same period of fiscal 2010.

{complink 4773|Sanmina-SCI Corp.}

0 comments on “Sanmina-SCI Posts Q1 Returns

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.