Core Viewpoint - Sanmina Corporation (NASDAQ: SANM) reported positive Q3 numbers, indicating strong performance and potential for future growth [1] Financial Performance - The Q3 results were well-received by the community, suggesting investor confidence in the company's financial health [1] Growth Drivers - The article highlights promising growth drivers for Sanmina going forward, although specific details on these drivers are not provided in the excerpt [1]

Core Insights - Sanmina Corporation (SANM) reported strong third-quarter fiscal 2025 results, with both revenue and net income exceeding the Zacks Consensus Estimate [1][2][3] Financial Performance - Net income on a GAAP basis was $68.6 million or $1.26 per share, up from $51.6 million or 91 cents per share in the prior-year quarter [2] - Non-GAAP net income was $83.6 million or $1.53 per share, compared to $70.8 million or $1.25 in the prior-year quarter, surpassing the Zacks Consensus Estimate of $1.42 [2] - Net sales increased to $2.04 billion from $1.84 billion year over year, beating the consensus estimate by $67 million [3] Segment Performance - Integrated Manufacturing Solutions generated $1.64 billion in revenues, an 11.6% increase year over year, contributing 80.7% to total revenues [4] - Components, Products and Services revenues rose to $422 million, up 8.8% year over year [4] - Industrial & Energy, Medical, Defense & Aerospace, and Automotive markets generated $1.256 billion in revenues, a 6.2% increase year over year [5] - Communications Networks and Cloud Infrastructure generated $786 million, up 19.2% year over year [5] Profitability Metrics - Non-GAAP gross profit was $186 million, compared to $157 million in the year-ago quarter, driven by a favorable mix and improved operational efficiency [6] - Non-GAAP operating income totaled $115.7 million, up from $96.8 million in the prior-year period, with a non-GAAP operating margin of 5.7%, slightly up from 5.3% [6] Cash Flow and Liquidity - Generated $200.8 million of net cash from operating activities, compared to $90 million in the previous year's quarter [7] - As of June 28, 2025, the company had $797.9 million in cash and cash equivalents and $287.2 million in long-term debt [7] - The company repurchased approximately 0.2 million shares for about $13 million during the quarter [7] Outlook - For the fourth quarter of fiscal 2025, revenues are expected to be in the range of $2-$2.1 billion, with GAAP earnings per share forecasted between $1.21 and $1.31 [10] - Management estimates non-GAAP earnings per share in the band of $1.52-$1.62 [10]

Sanmina (SANM) came out with quarterly earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +7.75%. A quarter ago, it was expected that this electronics manufacturing services company would post earnings of $1.38 per share when it actually produced earnings of $1.41, delivering a surprise of +2.17%.Over the last ...

Financial Data and Key Metrics Changes - The company reported solid revenue of $2,040 million for the third quarter, representing a 10.9% year-over-year increase [11][14] - Non-GAAP diluted earnings per share (EPS) was $1.53, a 22.8% increase compared to the same period last year [16] - Non-GAAP gross margin improved to 9.1%, reflecting a 60 basis point increase year-over-year [14][15] - Non-GAAP operating margin was 5.7%, at the high end of the company's outlook [13][15] Business Line Data and Key Metrics Changes - IMS revenue reached $1,650 million, up 11.6% year-over-year, driven by growth in communications networks and cloud infrastructure [18] - CPS revenue was $422 million, an 8.8% increase year-over-year, with a non-GAAP gross margin of 14.7%, a 320 basis point improvement [19] - DPS non-GAAP gross margin was 14.7%, driven by higher revenue and operational efficiencies [19] Market Data and Key Metrics Changes - The communications networks and cloud infrastructure segments showed strong demand, with revenue of $786 million, a 19.1% increase year-over-year [32] - The industrial, energy, medical, defense, aerospace, and automotive segments generated $1,256 million, growing 6.2% year-over-year [32] Company Strategy and Development Direction - The company is focused on improving operating margins to exceed 6% in the long term [31] - A strategic acquisition of ZT Systems is expected to significantly enhance revenue, potentially doubling net revenue within three years [26][27] - The acquisition aligns with the company's strategy to capitalize on long-term growth trends in data center and AI infrastructure [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver solid revenue and profitability growth despite uncertainties in the geopolitical landscape [25][31] - The company anticipates continued growth in fiscal year 2025, with revenue expected to increase by 6% to 8% [39] - Management noted a strong pipeline of new opportunities and positive customer sentiment regarding future demand [31][34] Other Important Information - The company ended the quarter with cash and cash equivalents of $798 million and no outstanding borrowings, indicating strong liquidity [20] - Capital expenditures for the quarter were $33 million, with expectations to invest strategically in capacity and technology [22] - The company is committed to maintaining a strong balance sheet while pursuing growth opportunities [28] Q&A Session Summary Question: Update on ZT Systems acquisition and revenue expectations - Management remains optimistic about the ZT Systems acquisition, expecting annual revenue run rate to be between $5 billion and $6 billion, with plans to stabilize and grow the business [48][49][57] Question: Concerns about potential slowdown in Q4 growth - Management clarified that while Q4 growth appears modest compared to previous quarters, the business is stable and expanding, with positive customer forecasts [60][62] Question: CPS margins and future expectations - CPS margins improved due to business mix and ongoing investments, with expectations to maintain or exceed 15% margins in the future [66][69] Question: Risks associated with inventory in the ZT deal - Management confirmed thorough evaluation of inventory as part of the acquisition, aiming to mitigate risks associated with potential write-downs [73][75] Question: Progress on Ingen joint venture and tariff impacts - The joint venture in India is progressing well, with expectations for growth across various markets, while management is closely monitoring tariff impacts on customer strategies [90][96][100]

Financial Data and Key Metrics Changes - The company reported solid revenue of $2,040 million for Q3 FY2025, representing a 10.9% year-over-year increase [10][12] - Non-GAAP diluted earnings per share (EPS) was $1.53, a 22.8% increase compared to the same period last year [15] - Non-GAAP gross margin improved to 9.1%, reflecting a 60 basis point improvement year-over-year [13][14] - Non-GAAP operating income was $115.7 million, or 5.7% of revenue, showing a 40 basis point improvement year-over-year [14] Business Line Data and Key Metrics Changes - IMS revenue reached $1,650 million, up 11.6% year-over-year, driven by growth in communications networks and cloud infrastructure [16] - CPS revenue was $422 million, an 8.8% increase year-over-year, with non-GAAP gross margin at 14.7%, a 320 basis point improvement [17] - DPS non-GAAP gross margin was 14.7%, driven by higher revenue and operational efficiencies [17] Market Data and Key Metrics Changes - The communications networks and cloud infrastructure segments showed strong demand, with revenue of $786 million, a 19.1% increase year-over-year [32] - The industrial, energy, medical, defense, aerospace, and automotive segments generated $1,256 million, growing 6.2% year-over-year [31] - The company reported a solid demand pipeline across all end markets, indicating positive trends for FY2025 and beyond [33] Company Strategy and Development Direction - The company is focused on improving operating margins to exceed 6% in the long term [30] - A strategic acquisition of ZT Systems is expected to double net revenue within three years and enhance capabilities in data center and AI infrastructure [25][38] - The company aims to maintain a strong balance sheet while investing in growth opportunities and enhancing operational efficiencies [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving solid revenue and profitability growth despite uncertainties related to tariffs and geopolitical issues [24][36] - The company anticipates a growth rate of 6% to 8% for FY2025, with expectations for continued growth in FY2026 [37][64] - Management noted that customer forecasts are positive, indicating a stable business environment moving forward [62] Other Important Information - Cash and cash equivalents were reported at $798 million, with no outstanding borrowings, providing substantial liquidity of approximately $1.7 billion [19] - The company generated strong cash flow from operations of $422 million for the nine months of FY2025 [20] - Capital expenditures for the quarter were $33 million, with expectations to remain around 1.8% of revenue for the full year [21] Q&A Session Summary Question: Update on ZT Systems acquisition and revenue expectations - Management remains excited about the ZT Systems acquisition, expecting a revenue run rate of $5 billion to $6 billion, with plans to turn the business around and expand sales efforts [46][56] Question: Concerns about revenue growth in Q4 - Management acknowledged that Q4 growth may appear slower but emphasized that the business is stable and expanding, with positive customer forecasts [59][62] Question: CPS margins and future expectations - CPS margins improved due to business mix, with expectations to continue driving margin improvements above 15% [65][67] Question: Risks associated with inventory in the ZT deal - Management confirmed that they are evaluating inventory risks as part of the acquisition, ensuring it aligns with customer demand [73][75] Question: Impact of tariffs on business - Management noted that while tariffs present challenges, they are working closely with customers to navigate these issues and maintain stability in current programs [94][96]

PART I. FINANCIAL INFORMATION [Interim Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Interim%20Financial%20Statements%20(Unaudited)) This section presents Sanmina Corporation's unaudited condensed consolidated financial statements for the quarter ended June 28, 2025, including balance sheets, income statements, and cash flows, with detailed notes on accounting policies and significant events [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$5.22 billion** as of June 28, 2025, from **$4.82 billion**, driven by higher cash and inventories, while total liabilities grew due to increased deferred revenue Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 28, 2025 | September 28, 2024 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $797,878 | $625,860 | +27.5% | | Inventories | $1,589,807 | $1,443,629 | +10.1% | | Total current assets | $4,301,883 | $3,870,429 | +11.1% | | **Total assets** | **$5,221,756** | **$4,822,845** | **+8.3%** | | **Liabilities & Equity** | | | | | Accounts payable | $1,432,535 | $1,441,984 | -0.7% | | Deferred revenue and customer advances | $525,144 | $215,553 | +143.6% | | Total current liabilities | $2,247,790 | $1,940,679 | +15.8% | | **Total liabilities** | **$2,746,900** | **$2,461,337** | **+11.6%** | | **Total stockholders' equity** | **$2,474,856** | **$2,361,508** | **+4.8%** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) The company reported significant year-over-year growth in revenue and profitability for both the three and nine-month periods ended June 28, 2025, with Q3 net sales up **10.9%** to **$2.04 billion** and net income up **33.0%** Q3 FY2025 vs Q3 FY2024 Performance (in thousands, except per share data) | Metric | Q3 2025 | Q3 2024 | Change | | :--- | :--- | :--- | :--- | | Net sales | $2,041,562 | $1,841,430 | +10.9% | | Gross profit | $181,050 | $153,539 | +17.9% | | Operating income | $95,877 | $82,367 | +16.4% | | Net income attributable to common shareholders | $68,616 | $51,602 | +33.0% | | Diluted EPS | $1.26 | $0.91 | +38.5% | Nine Months FY2025 vs FY2024 Performance (in thousands, except per share data) | Metric | Nine Months 2025 | Nine Months 2024 | Change | | :--- | :--- | :--- | :--- | | Net sales | $6,031,990 | $5,550,823 | +8.7% | | Gross profit | $525,200 | $469,136 | +12.0% | | Operating income | $276,103 | $245,904 | +12.3% | | Net income attributable to common shareholders | $197,827 | $161,155 | +22.8% | | Diluted EPS | $3.58 | $2.82 | +27.0% | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash provided by operating activities significantly increased to **$421.6 million** for the nine months ended June 28, 2025, driven by higher net income and deferred revenue, while investing and financing activities used cash Cash Flow Summary (Nine Months Ended, in thousands) | Activity | June 28, 2025 | June 29, 2024 | | :--- | :--- | :--- | | Cash provided by operating activities | $421,578 | $288,341 | | Cash used in investing activities | ($45,563) | ($88,499) | | Cash used in financing activities | ($165,616) | ($209,295) | | **Increase (decrease) in cash** | **$211,860** | **($9,861)** | - The increase in cash from operations was largely due to a **$309.6 million** increase in deferred revenue and customer advances, which offset increases in inventories (**$144.8 million**) and accounts receivable (**$43.2 million**)[19](index=19&type=chunk) - Financing activities primarily consisted of **$113.9 million** in common stock repurchases[19](index=19&type=chunk) [Note 2. Revenue Recognition](index=9&type=section&id=Note%202.%20Revenue%20Recognition) Over **95%** of revenue is recognized over time, with the Integrated Manufacturing Solutions segment contributing **$4.84 billion** and Communications Networks & Cloud Infrastructure showing **19.5%** growth for the nine months ended June 28, 2025 Revenue by Segment (Nine Months Ended, in thousands) | Segment | FY2025 | FY2024 | Change | | :--- | :--- | :--- | :--- | | Integrated Manufacturing Solutions (IMS) | $4,842,513 | $4,418,009 | +9.6% | | Components, Products and Services (CPS) | $1,189,477 | $1,132,814 | +5.0% | | **Total** | **$6,031,990** | **$5,550,823** | **+8.7%** | Revenue by End Market (Nine Months Ended, in thousands) | End Market | FY2025 | FY2024 | Change | | :--- | :--- | :--- | :--- | | Industrial, Medical, Defense & Aerospace, Automotive | $3,775,853 | $3,663,208 | +3.1% | | Communications Networks & Cloud Infrastructure | $2,256,137 | $1,887,615 | +19.5% | | **Total** | **$6,031,990** | **$5,550,823** | **+8.7%** | - For the nine months ended June 28, 2025, Mexico represented approximately **67%** of Americas net sales, while the U.S. represented about **30%**[36](index=36&type=chunk) [Note 4. Debt](index=14&type=section&id=Note%204.%20Debt) Total long-term debt was **$287.2 million** as of June 28, 2025, with **$791 million** available under the revolving credit facility, and a **$2.5 billion** bridge loan commitment secured for the ZT Systems acquisition - Total long-term debt, net of current portion, was **$287.2 million** as of June 28, 2025[58](index=58&type=chunk) - The company has an **$800 million** revolving credit facility with **$791 million** available to borrow as of June 28, 2025[63](index=63&type=chunk) - A commitment letter for a **$2.5 billion** bridge loan facility was secured to fund a portion of the ZT Systems acquisition[66](index=66&type=chunk)[105](index=105&type=chunk) [Note 7. Commitments and Contingencies](index=17&type=section&id=Note%207.%20Commitments%20and%20Contingencies) The company is involved in legal proceedings, including the Eckert Qui Tam Suit alleging **$100 million** in fraud and multiple California labor code class action lawsuits, while a lawsuit with Dialight plc was settled for **$14 million** - The company is defending against the Eckert Qui Tam Suit, which alleges violations of the False Claims Act with claimed damages of approximately **$100 million**, seeking treble damages[83](index=83&type=chunk) - Multiple class action and PAGA lawsuits have been filed by former employees in California alleging various labor code violations, which the company intends to defend vigorously[84](index=84&type=chunk) - Litigation with former customer Dialight plc was resolved, with Dialight agreeing to pay Sanmina **$12 million** and assigning a **$2 million** insurance payment to Sanmina[81](index=81&type=chunk) [Note 8. Income Tax](index=19&type=section&id=Note%208.%20Income%20Tax) The effective tax rate decreased to **19%** for the nine months ended June 28, 2025, while the company contests an IRS audit finding for fiscal 2009 regarding a **$503 million** worthless stock deduction and assesses new tax laws - The effective tax rate decreased to **19%** for the nine months ended June 28, 2025, from **26%** in the prior-year period[90](index=90&type=chunk) - The company is contesting an IRS assertion from a 2008-2010 audit that disallowed a **$503 million** worthless stock deduction from fiscal 2009, which could materially impact future tax liabilities[91](index=91&type=chunk) - The company is evaluating the impact of the OECD's Pillar Two global minimum tax rules, effective in fiscal 2025, and the newly enacted One Big Beautiful Bill Act (OBBBA) in the U.S.[92](index=92&type=chunk)[93](index=93&type=chunk) [Note 9. Stockholders' Equity](index=20&type=section&id=Note%209.%20Stockholders%27%20Equity) During the nine months ended June 28, 2025, the company repurchased **1.4 million** shares for **$114 million**, with a new **$300 million** stock repurchase program authorized and **$239 million** remaining available - The company repurchased **1.4 million** shares for **$114 million** in the first nine months of fiscal 2025[96](index=96&type=chunk) - A new **$300 million** stock repurchase program was authorized in Q2 2025, with **$239 million** remaining available under all authorized programs as of June 28, 2025[96](index=96&type=chunk) [Note 12. Business Combination](index=22&type=section&id=Note%2012.%20Business%20Combination) Sanmina agreed to acquire ZT Systems' data center infrastructure business for **$2.4 billion** cash, **$150 million** stock, and up to **$450 million** contingent payments, with the acquisition expected to close near the end of calendar year 2025 - Announced agreement to acquire ZT Systems, a provider of AI and computer infrastructure for hyperscale computing companies[103](index=103&type=chunk)[66](index=66&type=chunk) - Total consideration consists of **$2.4 billion** cash, **$150 million** in stock, and up to **$450 million** in contingent consideration[104](index=104&type=chunk) - The company incurred **$7 million** in acquisition and integration charges in Q3 2025 related to this transaction[106](index=106&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses an **8.7%** increase in net sales for the first nine months of fiscal 2025, improved gross margin due to operational efficiencies, the strategic ZT Systems acquisition, and strong liquidity with **$422 million** cash from operations - Net sales increased **8.7%** for the nine months ended June 28, 2025, primarily driven by **19.5%** growth in the Communications Networks and Cloud Infrastructure end market[121](index=121&type=chunk) - Gross margin for the nine-month period increased to **8.7%** from **8.5%** year-over-year, mainly due to improved operating efficiencies in the CPS segment, whose gross margin rose to **13.7%** from **12.4%**[123](index=123&type=chunk) - The company entered into an agreement to acquire ZT Systems' data center infrastructure manufacturing business to expand its presence in the Cloud and AI ecosystem[117](index=117&type=chunk) - Cash from operations for the nine-month period was **$422 million**, and the company's cash cycle days decreased from **70** to **67** days, indicating improved working capital management[130](index=130&type=chunk)[133](index=133&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes were reported in the company's primary market risk exposures or their management since the fiscal year ended September 28, 2024, as disclosed in its Annual Report on Form 10-K - No material changes were reported in the company's primary risk exposures, which include foreign currency exchange risk and interest rate risk[155](index=155&type=chunk) [Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of June 28, 2025, due to identified material weaknesses in internal control over financial reporting, for which remediation plans are underway - Disclosure controls and procedures were concluded to be ineffective as of June 28, 2025[157](index=157&type=chunk) - Material weaknesses identified in fiscal 2023 relate to an inappropriate tone at the top and ineffective controls over the quarterly contract estimate review process at one division[159](index=159&type=chunk) - A material weakness identified in fiscal 2024 relates to ineffective controls for accounting for the transfer of control of certain raw materials inventory[164](index=164&type=chunk) - Remediation efforts are underway, including personnel changes, enhanced training, process redesign, and improved review controls, but are not yet considered fully remediated[162](index=162&type=chunk)[163](index=163&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 7 of the financial statements for detailed descriptions of material legal proceedings, including a civil False Claims Act lawsuit and several employee class action lawsuits - For a description of material legal proceedings, the report refers to Note 7, "Commitments and Contingencies" in the financial statements[170](index=170&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including dependency on key customers, intense competition, supply chain disruptions, uncertainties related to the ZT Systems acquisition, international operations, trade policies, product defects, cybersecurity, and regulatory compliance - **Strategic & Acquisition Risk:** The pending acquisition of ZT Systems involves risks such as integration difficulties, failure to realize expected benefits, and the need to secure up to **$2.5 billion** in debt financing[213](index=213&type=chunk)[215](index=215&type=chunk)[218](index=218&type=chunk) - **Operational & Market Risk:** The business is subject to intense competition, reliance on a few large customers (ten largest represent ~**50%** of sales), and potential adverse changes in key end markets like communications and cloud infrastructure[177](index=177&type=chunk)[223](index=223&type=chunk) - **Supply Chain & Trade Risk:** The company faces risks from component shortages, inflation, and increased costs from U.S. tariffs, which could reduce gross margins if not fully passed on to customers[182](index=182&type=chunk)[183](index=183&type=chunk) - **Regulatory & Legal Risk:** The company is subject to complex export control laws, government contract regulations, and potential liability from product defects, alongside ongoing legal proceedings including a False Claims Act lawsuit and employment-related class actions[188](index=188&type=chunk)[190](index=190&type=chunk)[194](index=194&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 FY2025, the company repurchased **197,018** shares at an average price of **$67.89** per share, with **$239.2 million** remaining available for future repurchases under board-authorized programs Stock Repurchases in Q3 FY2025 | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Month 1 (Mar 30 - Apr 26) | 197,018 | $67.89 | | Month 2 (Apr 27 - May 24) | — | $— | | Month 3 (May 25 - Jun 28) | — | $— | | **Total** | **197,018** | **$67.89** | - As of June 28, 2025, the maximum dollar value of shares that may yet be purchased under the programs is **$239,220,554**[233](index=233&type=chunk) [Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement in Q3 FY2025, though one SVP adopted such a plan in the prior quarter to sell up to **6,500** shares - No director or officer adopted or terminated a Rule 10b5-1 trading arrangement in the quarter ended June 28, 2025[234](index=234&type=chunk) - In the prior quarter (Q2 2025), Vishnu Venkatesh (SVP, Finance and Controller) adopted a Rule 10b5-1 trading plan for the sale of up to **6,500** shares[234](index=234&type=chunk) [Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section lists key exhibits filed with the Form 10-Q, including the Equity Purchase Agreement for ZT Systems, the Bridge Commitment Letter for financing, and CEO/CFO certifications - Key exhibits filed include the Equity Purchase Agreement for ZT Systems (Exhibit 2.1), the Bridge Commitment Letter (Exhibit 10.46), and CEO/CFO certifications (Exhibits 31.1, 31.2, 32.1, 32.2)[236](index=236&type=chunk)

Q3 Fiscal Year 2025 Financial Performance - Revenue for Q3 FY'25 reached $2.042 billion, exceeding both the outlook range of $1.925 billion - $2.025 billion and the Q3 FY'24 revenue of $1.841 billion[11, 35] - Gross margin was 9.1%, surpassing the outlook range of 8.6% - 9.0%[11] - Operating margin was 5.7%, aligning with the high end of the outlook range of 5.4% - 5.8%[11] - Diluted EPS was $1.53, exceeding the outlook range of $1.35 - $1.45[11] Balance Sheet and Cash Flow - Cash and cash equivalents totaled $798 million as of June 28, 2025[21] - The company has substantial liquidity of approximately $1.7 billion, with no borrowings under the $800 million Revolver at quarter end[24] - Cash flow from operations was $201 million, with net CapEx of $33 million, resulting in free cash flow of $168 million[25] - The company repurchased 0.2 million shares for $13 million in Q3, and 1.4 million shares for $114 million year-to-date[25] Q4 Fiscal Year 2025 Outlook - Revenue is projected to be between $2.0 billion and $2.1 billion[28] - GAAP diluted EPS is expected to be in the range of $1.21 to $1.31, while non-GAAP diluted EPS is projected to be between $1.52 and $1.62[28] ZT Systems Acquisition - The acquisition of ZT Systems is on track to close near the end of the 2025 calendar year and is expected to generate $5 - $6 billion of net revenue on a run-rate basis[31] - The acquisition is expected to double Sanmina's net revenue within the next 3 years and be accretive to non-GAAP EPS in the first year after closing[31]

Exhibit 99.1 FINANCIAL NEWS Sanmina Reports Third Quarter Fiscal 2025 Financial Results San Jose, CA – July 28, 2025. Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the third quarter ended June 28, 2025 and outlook for its fourth fiscal quarter ending September 27, 2025. Third Quarter Fiscal 2025 Financial Highlights Additional Highlights "Our focused execution and operating discipline yielded solid ...

SAN JOSE, Calif., July 28, 2025 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the third quarter ended June 28, 2025 and outlook for its fourth fiscal quarter ending September 27, 2025.Third Quarter Fiscal 2025 Financial Highlights Revenue: $2.04 billion GAAP operating margin: 4.7% GAAP diluted EPS: $1.26 Non-GAAP(1) operating margin: 5.7% Non-GAAP(1) diluted EPS: $1.53Additional High ...

SAN JOSE, Calif., July 21, 2025 /PRNewswire/ -- Sanmina Corporation (NASDAQ: SANM) announced today that it will host its third quarter fiscal 2025 earnings conference call on Monday, July 28, 2025 at 5:00 PM ET. The live webcast presentation and supporting materials will be available on the Sanmina website at www.sanmina.com in the Investor Relations section. A webcast replay will be available at the same location upon the conclusion of the event.About SanminaSanmina Corporation, a Fortune 500 company, is a ...