Sanmina (SANM) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.38%. A quarter ago, it was expected that this electronics manufacturing services company would post earnings of $1.30 per share when it actually produced earnings of $1.25, delivering a surprise of -3.85%.Over the last f ...

Exhibit 99.1 FINANCIAL NEWS Sanmina Reports Fourth Quarter and Fiscal 2024 Financial Results San Jose, CA – November 4, 2024. Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fourth quarter and fiscal year ended September 28, 2024 and outlook for its fiscal first quarter ending December 28, 2024. Fourth Quarter Fiscal 2024 Financial Highlights • Revenue: $2.02 billion • GAAP operating margin: 4.4% ...

SAN JOSE, Calif., Nov. 4, 2024 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fourth quarter and fiscal year ended September 28, 2024 and outlook for its fiscal first quarter ending December 28, 2024. Fourth Quarter Fiscal 2024 Financial Highlights •    Revenue: $2.02 billion •    GAAP operating margin: 4.4% •    GAAP diluted EPS: $1.09 •    Non-GAAP(1) operating margin: 5.3% •  ...

SAN JOSE, Calif., Oct. 8, 2024 /PRNewswire/ -- 42Q, a Sanmina division, a leading provider of cloud-based Manufacturing Execution Systems (MES), announces the launch and immediate availability of 42Q Connected Manufacturing. An innovative solution that addresses manufacturing supply challenges in real-time, providing global visibility, optimization and manufacturing supply insights. "Working with our customers and manufacturing partners around the world, it became clear that the legacy approach to collectin ...

SANTA CLARA, Calif., Aug. 7, 2024 /PRNewswire/ -- Viking Enterprise Solutions; a division of Sanmina Corporation (NASDAQ: SANM), is proud to announce that it has received a "Best of Show" award at FMS: the Future of Memory and Storage, for its Viking Edge AI solution. The 'Best of Show' award is given to the most outstanding product, service, or innovation showcased at FMS. This recognition highlights Viking Enterprise Solutions commitment to excellence and innovation. Use cases for AI/ML workloads such as ...

Financial Performance - Net sales for the three months ended June 29, 2024, were $1,841.43 million, a decrease of 16.6% compared to $2,207.12 million in the same period last year[95][96] - Gross profit for the three months ended June 29, 2024, was $153.54 million, down from $183.21 million in the same period last year[95] - Operating income for the three months ended June 29, 2024, was $82.37 million, compared to $107.37 million in the same period last year[95] - Net income attributable to common shareholders for the three months ended June 29, 2024, was $51.60 million, down from $76.49 million in the same period last year[95] - Net sales decreased by 16.6% for the three months ended June 29, 2024, and by 19.4% for the nine months ended June 29, 2024, primarily due to reduced demand in telecommunications and other end markets[97] - Gross margin remained at 8.3% for the three months ended June 29, 2024, but IMS gross margin decreased to 7.6% from 8.3%, while CPS gross margin increased to 11.5% from 8.8%[98] - Selling, general, and administrative expenses decreased to $62 million for the three months ended June 29, 2024, from $69 million in the same period in 2023, representing 3.4% and 3.1% of net sales, respectively[99] Segment Performance - Industrial, Medical, Defense and Aerospace, and Automotive segment revenue for the three months ended June 29, 2024, was $1,181.49 million, a decrease of 12.1% compared to $1,344.07 million in the same period last year[96] - Communications Networks and Cloud Infrastructure segment revenue for the three months ended June 29, 2024, was $659.94 million, a decrease of 23.5% compared to $863.05 million in the same period last year[96] - The Integrated Manufacturing Solutions (IMS) segment represented approximately 80% of the company's total revenue for the nine months ended June 29, 2024[85] Strategic Initiatives - The company expects headwinds to revenue growth in the near term due to customers absorbing their finished goods inventory in some end markets[86] - The company is focusing on diversifying into mission-critical markets with longer product life cycles and higher technology products[86] - The company is proactively managing cost impacts through pricing actions and targeted cost-saving measures to enhance stockholder value[86] Cash Flow and Liquidity - Cash and cash equivalents were $658 million at June 29, 2024, compared to $668 million at September 30, 2023, with working capital at $1.9 billion and $1.8 billion, respectively[109] - Net cash provided by operating activities was $288 million for the nine months ended June 29, 2024, compared to $158 million in the same period in 2023[110] - Net cash used in investing activities was $88 million for the nine months ended June 29, 2024, primarily for capital expenditures, compared to $154 million in the same period in 2023[112] - The company generated $288 million of cash from operations for the nine months ended June 29, 2024[120] - The company's cash and cash equivalents totaled $658 million as of June 29, 2024, with $188 million held by Sanmina SCI India Private Limited (SIPL) for its operations[120] - The company had $786 million available under its Credit Agreement, net of outstanding borrowings and letters of credit, as of June 29, 2024[120] - The company's foreign short-term borrowing facilities amounted to $71 million, all of which was available as of June 29, 2024[120] - The company may increase the revolving commitments under the Credit Agreement by up to an additional $200 million, subject to certain conditions[120] - 35% of the company's cash balance was held in the United States as of June 29, 2024[122] - The company believes its existing cash resources and liquidity sources will be sufficient to meet working capital requirements for at least the next twelve months[121] Share Repurchase and Liabilities - The company repurchased 3 million shares of common stock for $162 million during the nine months ended June 29, 2024, compared to 1 million shares for $51 million in the same period in 2023[113] - Accounts receivable sold under the Receivables Purchase Agreement (RPA) were $127 million as of June 29, 2024, compared to $162 million as of September 30, 2023[116] - The company had accrued liabilities of $37 million related to legal proceedings and contingencies as of June 29, 2024[118] - The liability for uncertain tax positions was $51 million as of June 29, 2024, with potential future cash flows that could be significantly higher or lower than the recorded liability[119] Risk Management and Off-Balance Sheet Arrangements - The company has no off-balance sheet arrangements as of June 29, 2024 that would materially affect its financial condition[123] - The company's primary risk exposures and management of market risks remained unchanged from those disclosed in its Annual Report on Form 10-K for the fiscal year ended September 30, 2023[125]

Communications Networks & Cloud Infrastructure 33% Industrial/Medical/ Defense/Automotive 67% Cloud Infrastructure AI/ML – new opportunities Upgrades to cloud networks to meet AI traffic needs Industrial/Energy Solid base, new projects in the pipeline, lot of opportunity Generation and storage Power controls and management Factory automation and lithography Q3'24 Non-GAAP diluted EPS: $1.25, in line with our outlook Fiscal 2024 Continue to Execute on Our Strategy (Unaudited) Total liabilities and stockholde ...

Sanmina Corporation (NASDAQ:SANM) Q3 2024 Earnings Conference Call July 29, 2024 5:00 PM ET Company Participants Paige Melching - Senior Vice President, Investor Communications Jure Sola - Chairman and CEO Jon Faust - Executive Vice President and CFO Conference Call Participants Ruplu Bhattacharya - Bank of America Steven Fox - Fox Advisors Christian Schwab - Craig-Hallum Capital Group Operator Good afternoon, ladies and gentlemen. And welcome to the Sanmina Corporation Third Quarter Fiscal 2024 Earnings Co ...

This quarterly report represents an earnings surprise of -3.85%. A quarter ago, it was expected that this electronics manufacturing services company would post earnings of $1.26 per share when it actually produced earnings of $1.30, delivering a surprise of 3.17%. Sanmina, which belongs to the Zacks Electronics - Manufacturing Services industry, posted revenues of $1.84 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.19%. This compares to year-ago revenues of $2.21 billion ...

Exhibit 99.1 FINANCIAL NEWS Sanmina's Third Quarter Fiscal 2024 Financial Results San Jose, CA – July 29, 2024. Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended June 29, 2024 and outlook for its fiscal fourth quarter ending September 28, 2024. Third Quarter Fiscal 2024 Financial Highlights • Revenue: $1.84 billion • GAAP operating margin: 4.5% • GAAP diluted EPS: $0.91 • ...