SAN JOSE, Calif., Jan. 27, 2025 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the first quarter ended December 28, 2024 and outlook for its second fiscal quarter ending March 29, 2025. First Quarter Fiscal 2025 Financial Highlights •    Revenue: $2.01 billion •    GAAP operating margin: 4.4% •    GAAP diluted EPS: $1.16 •    Non-GAAP(1) operating margin: 5.6% •    Non-GAAP(1) dilut ...

SAN JOSE, Calif., Jan. 16, 2025 /PRNewswire/ -- Sanmina Corporation (NASDAQ: SANM) announced today that it will host its first quarter fiscal 2025 earnings conference call on Monday, January 27, 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, i ...

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $2.02 billion, exceeding the outlook of $1.9 billion to $2.0 billion, and representing a 9.6% sequential growth [11][8] - Non-GAAP diluted earnings per share (EPS) was $1.43, surpassing the high end of the outlook of $1.30 to $1.40, and showing a 14% sequential improvement [14][17] - Non-GAAP gross profit was $175 million, or 8.7% of revenue, which was at the higher end of the outlook and up 20 basis points sequentially [12][16] Business Line Data and Key Metrics Changes - IMS revenue reached $1.63 billion, up 10.1% sequentially, while non-GAAP gross margin was 7.3%, down 30 basis points sequentially [18] - CPS revenue was $418 million, up 7.6% sequentially, with non-GAAP gross margin improving to 13.6%, up 210 basis points sequentially [19] Market Data and Key Metrics Changes - Revenue from industrial, medical, defense, aerospace, and automotive segments was $1.253 billion, accounting for 62% of total revenue, and up 6% quarter-over-quarter [34] - Communication networks and cloud infrastructure revenue was $765 million, representing 38% of total revenue, and increased by 16% quarter-over-quarter [34] Company Strategy and Development Direction - The company aims for fiscal year 2025 to be a growth year, forecasting high single-digit revenue growth driven by new and existing programs [42] - Focus on margin expansion with non-GAAP EPS expected to grow faster than revenue, leveraging operational efficiencies [43] - The strategy emphasizes a customer-centric approach, aiming for long-term growth and maximizing shareholder value [44] Management's Comments on Operating Environment and Future Outlook - Management noted that fiscal year 2024 was a transition year, but expressed optimism for fiscal year 2025 based on improving customer visibility and inventory levels [32][30] - Positive trends are expected in various segments, including industrial, medical, defense, and cloud infrastructure, with significant opportunities in AI and advanced technologies [36][40] Other Important Information - The company maintained a strong balance sheet with cash and cash equivalents of $626 million and no outstanding borrowings [21] - Free cash flow for the year was $231 million, up $186 million compared to the prior year, with nearly 100% of free cash flow returned to shareholders through share repurchases [26][27] Q&A Session Summary Question: Clarification on cloud segment revenue - Management acknowledged that fiscal year 2024 was challenging for the cloud segment due to inventory issues but expressed optimism for growth in high-performance networks and cloud infrastructure [47][48] Question: Trends in communications and inventory correction - Management indicated that inventory corrections are nearing completion and expressed confidence in growth across networking and optical segments [49][50] Question: Operating margin progression in fiscal 2025 - Management expects margin expansion driven by revenue growth and operational leverage, with targeted investments in R&D and strategic opportunities [50][51] Question: Cash allocation priorities and M&A opportunities - Management reiterated a focus on organic growth, strategic acquisitions, and disciplined share repurchases, emphasizing a balanced approach to capital allocation [52][54] Question: Update on Reliance Industries joint venture - Management expressed satisfaction with the partnership and highlighted growth opportunities in the Indian market, indicating strong performance ahead [64][65]

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 ...

Company Overview - Viking Enterprise Solutions, a division of Sanmina Corporation, has received a "Best of Show" award at FMS for its Viking Edge AI solution, highlighting its commitment to excellence and innovation [1][4] - Sanmina Corporation is a Fortune 500 company recognized as a technology leader in the Electronics Manufacturing Services market, providing end-to-end manufacturing solutions across various sectors [7] Product Innovation - The Viking Edge AI solution addresses challenges faced by AI/ML workloads in various industries by moving computation closer to storage, thereby reducing network infrastructure and data transfer needs [3][4] - The solution is designed as a turnkey 3U platform, enabling quick deployment of applications without requiring additional infrastructure [4] Industry Context - FMS: the Future of Memory and Storage is a premier event that showcases innovations in memory and storage technologies, attracting professionals and companies globally [5][10] - The event recognizes outstanding achievements in the industry, with the "Best of Show" award being one of the highest honors [5][10]

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 ...