Sanmina (SANM) came out with quarterly earnings of $1.44 per share, beating the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.11%. A quarter ago, it was expected that this electronics manufacturing services company would post earnings of $1.37 per share when it actually produced earnings of $1.43, delivering a surprise of 4.38%.Over the last fo ...

Revenue and Earnings - Revenue for Q1 FY25 was $2.01 billion, an increase from $1.87 billion in Q1 FY24, representing a growth of approximately 6.8% year-over-year[15]. - Non-GAAP diluted EPS for Q1 FY25 was $1.44, compared to $1.30 in Q1 FY24, reflecting a year-over-year increase of about 10.8%[17]. - The company reported a net income attributable to common shareholders of $65 million for Q1 FY25, up from $57 million in Q1 FY24, marking a growth of approximately 14%[15]. - The outlook for Q2 FY25 projects revenue between $1.9 billion and $2.0 billion, with GAAP diluted EPS expected to range from $1.03 to $1.13[6]. Cash Flow and Financial Management - Cash flow from operations for Q1 FY25 was $64 million, with free cash flow reported at $47 million[5]. - Cash provided by operating activities in Q1'25 was $63,938 million, up 23.3% from $51,875 million in Q4'24[21]. - Free cash flow for Q1'25 was $47,017 million, representing a 60.3% increase compared to $29,278 million in Q4'24[21]. - Cash used in financing activities decreased to $28,831 million in Q1'25 from $60,412 million in Q4'24, reflecting improved cash management[21]. Shareholder Returns and Capital Allocation - The company has authorized an additional $300 million for its share repurchase program, with approximately $37 million remaining under the current program as of December 28, 2024[3]. - The company executed net share repurchases of $24,456 million in Q1'25, down from $60,412 million in Q4'24, indicating a strategic shift in capital allocation[21]. Operational Performance - GAAP operating margin for Q1 FY25 was 4.4%, consistent with the previous quarter, while non-GAAP operating margin improved to 5.6%[17]. - Sanmina continues to express confidence in fiscal 2025 being a growth year, driven by operational discipline and customer service capabilities[2]. Asset Management - Total assets as of December 28, 2024, were $4.81 billion, slightly down from $4.82 billion at the end of the previous quarter[13]. - The company’s ending cash and cash equivalents increased to $642 million from $625 million in the previous quarter[13]. - Net change in cash and cash equivalents for Q1'25 was $16,542 million, a significant recovery from a decrease of $31,849 million in Q4'24[21]. - The company reported a net change in net working capital of $(59,945) million in Q1'25, an improvement from $(77,229) million in Q4'24[21]. Depreciation and Capital Expenditures - Depreciation expense for Q1'25 was $31,845 million, slightly up from $31,654 million in Q4'24[21]. - Net purchases of property and equipment decreased to $16,921 million in Q1'25 from $22,597 million in Q4'24, indicating a reduction in capital expenditures[21]. Currency Impact - The effect of exchange rate changes resulted in a loss of $(1,344) million in Q1'25, compared to a gain of $2,585 million in Q4'24, highlighting currency volatility impacts[21].

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 ...

[Financial Results Overview](index=1&type=section&id=Financial%20Results%20Overview) [Fourth Quarter Fiscal 2024 Highlights](index=1&type=section&id=Fourth%20Quarter%20Fiscal%202024%20Highlights) Sanmina reported strong fourth-quarter fiscal 2024 results, with revenue reaching $2.02 billion and non-GAAP diluted EPS of $1.43, exceeding outlook and showing sequential growth Fourth Quarter Fiscal 2024 Performance | Metric | Value | | :--------------------- | :------------- | | Revenue | $2.02 billion | | GAAP Operating Margin | 4.4% | | GAAP Diluted EPS | $1.09 | | Non-GAAP Operating Margin | 5.3% | | Non-GAAP Diluted EPS | $1.43 | - Revenue was up **9.6% sequentially**, and non-GAAP diluted earnings per share increased by **14.3%** over the prior quarter, surpassing the company's outlook[2](index=2&type=chunk) - Growth was observed in the majority of end-markets, particularly driven by strength in communications networks and cloud infrastructure[2](index=2&type=chunk) [Fiscal Year 2024 Highlights](index=1&type=section&id=Fiscal%20Year%202024%20Highlights) For fiscal year 2024, Sanmina achieved $7.57 billion in revenue and a non-GAAP diluted EPS of $5.28, alongside robust cash flow from operations and significant share repurchases Fiscal Year 2024 Performance | Metric | Value | | :--------------------- | :------------- | | Revenue | $7.57 billion | | GAAP Operating Margin | 4.4% | | GAAP Diluted EPS | $3.91 | | Non-GAAP Operating Margin | 5.4% | | Non-GAAP Diluted EPS | $5.28 | Cash Flow and Share Repurchases | Metric | Q4 FY24 (Millions) | FY24 (Millions) | | :------------------------- | :----------------- | :-------------- | | Cash flow from operations | $52 | $340 | | Free cash flow | $29 | $231 | | Share repurchases (shares) | 0.9 | 4.0 | | Share repurchases (value) | $65 | $227 | | Q4 ending cash & equivalents | $626 | N/A | [Management Commentary & Business Outlook](index=1&type=section&id=Management%20Commentary%20%26%20Business%20Outlook) CEO Jure Sola highlighted solid momentum in Q4, with growth in key end-markets, and noted that FY24 results met expectations despite a challenging first half. The company demonstrated resilience and expects fiscal 2025 to be a growth year based on customer forecasts and healthy demand - The company finished the year with solid momentum, with **Q4 revenue up 9.6% sequentially** and non-GAAP diluted EPS up **14.3%** over the prior quarter, exceeding outlook[2](index=2&type=chunk) - Growth was observed in the majority of end-markets, primarily driven by strength from communications networks and cloud infrastructure[2](index=2&type=chunk) - Fiscal year 2024 results were in line with expectations, managing a challenging first half with improvements in the second half, and delivering another solid year of cash flow from operations[3](index=3&type=chunk) - Sanmina repurchased **4 million shares for $227 million** in fiscal 2024, demonstrating a commitment to return value to shareholders[3](index=3&type=chunk) - Based on customer forecasts and healthy demand levels, fiscal 2025 is expected to be a growth year[3](index=3&type=chunk) [First Quarter Fiscal 2025 Outlook](index=1&type=section&id=First%20Quarter%20Fiscal%202025%20Outlook) Sanmina provided an outlook for the first quarter of fiscal 2025, projecting revenue between $1.925 billion and $2.025 billion, with GAAP diluted EPS between $1.03 and $1.13, and non-GAAP diluted EPS between $1.30 and $1.40 Q1 FY25 Outlook | Metric | Low Range (Billions) | High Range (Billions) | | :--------------------- | :------------------- | :-------------------- | | Revenue | $1.925 | $2.025 | | GAAP Diluted EPS | $1.03 | $1.13 | | Non-GAAP Diluted EPS | $1.30 | $1.40 | [Company Information & Disclosures](index=2&type=section&id=Company%20Information%20%26%20Disclosures) [About Sanmina Corporation](index=2&type=section&id=About%20Sanmina%20Corporation) Sanmina Corporation is a Fortune 500 company and a leading integrated manufacturing solutions provider in the global Electronics Manufacturing Services (EMS) market, serving various high-growth sectors including industrial, medical, defense, aerospace, automotive, communications networks, and cloud infrastructure - Sanmina is a **Fortune 500 company** and a leading integrated manufacturing solutions provider in the global Electronics Manufacturing Services (EMS) market[6](index=6&type=chunk) - The company provides end-to-end manufacturing solutions to Original Equipment Manufacturers (OEMs) in industrial, medical, defense and aerospace, automotive, communications networks, and cloud infrastructure markets[6](index=6&type=chunk) - Sanmina operates facilities strategically located in key regions worldwide[6](index=6&type=chunk) [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) Sanmina hosted a conference call on November 4, 2024, to discuss its Q4 and FY24 financial results and Q1 FY25 outlook, with replay options available - A conference call was held on Monday, November 4, 2024, at 4:30 p.m. ET (1:30 p.m. PT) to review financial results and outlook[5](index=5&type=chunk) - Access numbers for domestic and international participants, as well as webcast details and a 48-hour replay, were provided[5](index=5&type=chunk) [Safe Harbor Statement](index=2&type=section&id=Safe%20Harbor%20Statement) The report includes forward-looking statements, and actual results may differ materially due to various factors such as adverse market changes, sales variability, customer reliance, international operations risks, and geopolitical uncertainties - Statements regarding the financial outlook for Q1 FY25 and expectations for FY25 growth are forward-looking[4](index=4&type=chunk) - Actual results could differ materially due to factors including adverse changes to key markets, significant uncertainties causing sales and net income variability, reliance on a small number of customers, risks from international operations, and geopolitical uncertainty[4](index=4&type=chunk) - The company is not obligated to update or alter any forward-looking statements unless required by law[5](index=5&type=chunk) [Condensed Consolidated Financial Statements (GAAP)](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(GAAP)) [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 28, 2024, Sanmina's total assets were $4.71 billion, a decrease from $4.87 billion in the prior year, primarily driven by reductions in inventories and cash, while stockholders' equity increased to $2.36 billion Condensed Consolidated Balance Sheets (Thousands) | Asset Category | Sep 28, 2024 (Thousands) | Sep 30, 2023 (Thousands) | Change (Thousands) | | :----------------------------- | :----------------------- | :----------------------- | :----------------- | | Cash and cash equivalents | $625,860 | $667,570 | $(41,710) | | Accounts receivable, net | $1,337,562 | $1,230,771 | $106,791 | | Contract assets | $384,077 | $445,757 | $(61,680) | | Inventories | $1,335,744 | $1,477,223 | $(141,479) | | Prepaid expenses & other current assets | $79,301 | $58,249 | $21,052 | | **Total current assets** | **$3,762,544** | **$3,879,570** | **$(117,026)** | | Property, plant and equipment, net | $616,067 | $632,836 | $(16,769) | | Deferred tax assets | $160,703 | $177,597 | $(16,894) | | Other assets | $175,646 | $183,965 | $(8,319) | | **Total assets** | **$4,714,960** | **$4,873,968** | **$(159,008)** | Condensed Consolidated Liabilities & Equity (Thousands) | Liability & Equity Category | Sep 28, 2024 (Thousands) | Sep 30, 2023 (Thousands) | Change (Thousands) | | :----------------------------- | :----------------------- | :----------------------- | :----------------- | | Accounts payable | $1,485,484 | $1,612,833 | $(127,349) | | Accrued liabilities | $196,681 | $267,148 | $(70,467) | | Accrued payroll & related benefits | $133,129 | $127,406 | $5,723 | | Short-term debt | $17,500 | $25,945 | $(8,445) | | **Total current liabilities** | **$1,832,794** | **$2,033,332** | **$(200,538)** | | Long-term debt | $299,823 | $312,327 | $(12,504) | | Other long-term liabilities | $220,835 | $209,684 | $11,151 | | **Total long-term liabilities**| **$520,658** | **$522,011** | **$(1,353)** | | **Stockholders' equity** | **$2,361,508** | **$2,318,625** | **$42,883** | | **Total liabilities & stockholders' equity** | **$4,714,960** | **$4,873,968** | **$(159,008)** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For fiscal year 2024, Sanmina's net sales decreased to $7.57 billion from $8.94 billion in FY23, resulting in a lower net income attributable to common shareholders of $222.5 million ($3.91 diluted EPS) compared to $310.0 million ($5.18 diluted EPS) in the prior year Condensed Consolidated Statements of Income (Thousands, except EPS) | Metric (Thousands, except EPS) | Q4 FY24 | Q4 FY23 | FY24 | FY23 | | :----------------------------- | :----------- | :----------- | :----------- | :----------- | | Net sales | $2,017,505 | $2,052,019 | $7,568,328 | $8,935,048 | | Cost of sales | $1,846,212 | $1,878,591 | $6,927,899 | $8,191,837 | | Gross profit | $171,293 | $173,428 | $640,429 | $743,211 | | Operating income | $89,590 | $99,266 | $335,494 | $455,658 | | Income before income taxes | $86,778 | $86,751 | $317,535 | $412,807 | | Provision for income taxes | $19,438 | $21,396 | $79,784 | $85,294 | | Net income attributable to common shareholders | $61,381 | $61,841 | $222,536 | $309,970 | | Diluted EPS | $1.09 | $1.04 | $3.91 | $5.18 | | Diluted Weighted-average shares | 56,235 | 59,178 | 56,970 | 59,815 | - Net sales for FY24 decreased by approximately **15.2% year-over-year**[8](index=8&type=chunk) - Diluted EPS for FY24 decreased by approximately **24.6% year-over-year**[8](index=8&type=chunk) [Condensed Consolidated Cash Flow](index=7&type=section&id=Condensed%20Consolidated%20Cash%20Flow) Sanmina generated $340.2 million in cash from operating activities and $231.0 million in free cash flow for fiscal year 2024, a significant increase from FY23, despite a net decrease in cash and cash equivalents for the year Condensed Consolidated Cash Flow (Thousands) | Cash Flow Metric (Thousands) | Q4 FY24 | FY24 | FY23 | | :--------------------------- | :--------- | :----------- | :----------- | | Net income before noncontrolling interest | $67,340 | $237,751 | $327,513 | | Cash provided by operating activities | $51,875 | $340,216 | $235,168 | | Cash used in investing activities | $(25,897) | $(114,396) | $(192,458) | | Cash used for financing activities | $(60,412) | $(269,707) | $94,505 | | Net change in cash & cash equivalents | $(31,849) | $(41,710) | $137,713 | | Free cash flow | $29,278 | $231,020 | $45,210 | - Cash provided by operating activities increased by approximately **44.7%** from **$235.2 million in FY23 to $340.2 million in FY24**[11](index=11&type=chunk) - Free cash flow saw a substantial increase of approximately **411%** from **$45.2 million in FY23 to $231.0 million in FY24**[11](index=11&type=chunk) [Non-GAAP Financial Measures and Reconciliation](index=5&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliation) [Reconciliation of GAAP to Non-GAAP Measures](index=5&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Sanmina provides non-GAAP financial measures by adjusting GAAP results for items such as stock-based compensation, restructuring, and other unusual charges to offer a clearer view of core business operations. For FY24, non-GAAP operating income was $406.1 million and non-GAAP diluted EPS was $5.28 GAAP to Non-GAAP Reconciliation (Thousands, except %) | Metric (Thousands, except %) | Q4 FY24 | FY24 | FY23 | | :--------------------------- | :----------- | :----------- | :----------- | | GAAP Operating income | $89,590 | $335,494 | $455,658 | | GAAP Operating margin | 4.4% | 4.4% | 5.1% | | Total Operating income adjustments | $17,739 | $70,563 | $64,119 | | Non-GAAP Operating income | $107,329 | $406,057 | $519,777 | | Non-GAAP Operating margin | 5.3% | 5.4% | 5.8% | | GAAP Net income attributable to common shareholders | $61,381 | $222,536 | $309,970 | | Total Net income adjustments | $18,914 | $57,600 | $64,218 | | Non-GAAP Net income attributable to common shareholders | $80,295 | $300,868 | $374,230 | | GAAP Diluted EPS | $1.09 | $3.91 | $5.18 | | Non-GAAP Diluted EPS | $1.43 | $5.28 | $6.26 | Q1 FY25 EPS Outlook Reconciliation | Q1 FY25 EPS Outlook (Range) | Low ($) | High ($) | | :-------------------------- | :------ | :------- | | GAAP diluted EPS | 1.03 | 1.13 | | Stock compensation expense | 0.27 | 0.27 | | Non-GAAP diluted EPS | 1.30 | 1.40 | [Explanation of Non-GAAP Adjustments](index=8&type=section&id=Explanation%20of%20Non-GAAP%20Adjustments) Management excludes specific charges and benefits from non-GAAP measures to provide a more relevant comparison of core business operations, acknowledging that these exclusions are still GAAP-required and may impact liquidity - Management excludes stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges, and other unusual or infrequent items, adjusted for taxes, from non-GAAP measures[12](index=12&type=chunk) - These exclusions are primarily made because such charges or benefits are not directly related to the Company's ongoing core business operations, aiding in period-to-period comparisons and management assessment[13](index=13&type=chunk) - A material limitation is that excluded items are still GAAP-recognized and, in some cases, consume cash, reducing liquidity; management compensates by reviewing GAAP results and providing reconciliations[13](index=13&type=chunk) [Stock-based Compensation Expense](index=8&type=section&id=Stock-based%20Compensation%20Expense) Stock-based compensation is excluded to enable more meaningful period-to-period comparisons of results and to allow for more accurate comparisons with competitors, given variations in equity award grants and valuation assumptions - Exclusion permits more meaningful period-to-period comparisons as equity award amounts and values vary quarterly[15](index=15&type=chunk) - Allows for more accurate comparisons with competitors who may grant different amounts and types of equity awards and use different valuation assumptions[15](index=15&type=chunk) [Restructuring, Acquisition and Integration Expenses](index=8&type=section&id=Restructuring,%20Acquisition%20and%20Integration%20Expenses) These expenses are excluded because they are often unpredictable, not directly related to ongoing business results, and do not reflect expected future operating expenses, facilitating better comparisons with competitors - Excluded because they are driven by unpredictable timing of acquisitions and exit activities, not directly related to ongoing business results, and generally do not reflect expected future operating expenses[16](index=16&type=chunk) - Exclusion allows for more accurate comparisons with competitors who complete acquisitions and restructuring plans at different times and amounts[16](index=16&type=chunk) - These expenses include both cash and non-cash components, with cash expenses reducing liquidity, which management addresses by reviewing GAAP results[16](index=16&type=chunk) [Impairment Charges for Goodwill and Other Assets](index=8&type=section&id=Impairment%20Charges%20for%20Goodwill%20and%20Other%20Assets) Non-cash impairment charges are excluded due to their non-recurring nature and lack of impact on liquidity, which helps in comparing core results with competitors - Excluded because they are non-cash, non-recurring charges that do not reduce the Company's liquidity[17](index=17&type=chunk) - Exclusion permits more accurate comparisons of core results with competitors who may record impairment charges at different times[17](index=17&type=chunk) [Amortization of Intangible Assets](index=8&type=section&id=Amortization%20of%20Intangible%20Assets) Amortization charges are excluded as they are non-cash, influenced by unpredictable acquisition timing, and do not affect liquidity, allowing for better comparative analysis with competitors - Excluded because they are non-cash charges impacted by the timing and magnitude of acquisitions, which are difficult to predict, and do not reduce liquidity[18](index=18&type=chunk) - Exclusion permits more accurate comparisons of core results with competitors who complete acquisitions at different times and for different amounts[18](index=18&type=chunk) [Other Unusual or Infrequent Items](index=8&type=section&id=Other%20Unusual%20or%20Infrequent%20Items) These items, such as distressed customer charges or legal matters, are excluded because they are typically non-recurring, difficult to predict, or not directly related to ongoing core operations, aiding in assessing current operating performance and forecasting - Excluded because they are typically non-recurring, difficult to predict, or not directly related to ongoing or core operations[19](index=19&type=chunk) - These items are not considered by management in assessing current operating performance and forecasting earnings trends[19](index=19&type=chunk) - Includes both cash and non-cash expenses; cash expenses reduce liquidity, which management addresses by reviewing GAAP results[19](index=19&type=chunk) [Adjustments for Taxes](index=9&type=section&id=Adjustments%20for%20Taxes) Tax adjustments are applied to reflect the tax effects of non-GAAP operating income adjustments, deferred tax, and discrete tax items, ensuring more accurate comparisons of core results with competitors - Consist of tax effects of various adjustments excluded from non-GAAP measures, and adjustments related to deferred tax and discrete tax items[20](index=20&type=chunk) - These adjustments permit more accurate comparisons of the Company's core results with those of its competitors[20](index=20&type=chunk) - Tax adjustments are determined based on applicable effective tax rates, with a reduced rate applied in jurisdictions where a tax cost or benefit is not expected[20](index=20&type=chunk)

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]