Financial Performance - Net sales increased from $1.6 billion in Q2 2020 to $1.7 billion in Q2 2021, a growth of 6.9%[114] - Gross profit for Q2 2021 was $143.1 million, compared to $107.4 million in Q2 2020, reflecting improved operational efficiencies[114] - Operating income rose to $64.7 million in Q2 2021 from $24.4 million in Q2 2020, indicating stronger profitability[114] - The gross margin increased to 8.4% in Q2 2021 from 6.8% in Q2 2020, driven by cost reduction efforts[116] - CPS gross margin improved to 14.2% in Q2 2021 from 10.8% in Q2 2020, attributed to increased volume and favorable product mix[117] Customer Concentration - Sales to the ten largest customers accounted for approximately 55% of net sales, highlighting customer concentration risk[109] - The IMS segment represented about 80% of total revenue in the first half of 2021, underscoring its significance to overall performance[103] Expenses and Charges - Selling, General and Administrative expenses decreased to $61.1 million in Q2 2021, or 3.6% of net sales, down from $62.3 million in Q2 2020[119] - Selling, General and Administrative expenses decreased by $5.3 million from $125.4 million (3.7% of net sales) in the six months ended March 28, 2020, to $120.1 million (3.5% of net sales) in the six months ended April 3, 2021[120] - Research and Development expenses decreased by $0.4 million from $5.8 million (0.4% of net sales) in Q2 2020 to $5.4 million (0.3% of net sales) in Q2 2021[121] - Restructuring charges incurred were approximately $29 million, reflecting ongoing adjustments to operational strategies[108] - Restructuring charges incurred under the Q1 FY20 Plan amounted to approximately $29 million as of April 3, 2021, with expected total charges of up to $35 million[124] Cash Flow and Liquidity - Net cash provided by operating activities was $142.9 million for the six months ended April 3, 2021, compared to $156.9 million for the same period in 2020[133] - Cash and cash equivalents increased to $575 million as of April 3, 2021, from $481 million as of October 3, 2020[135] - The company generated $143 million of cash from operations in the second quarter of 2021[148] - The company believes its existing cash resources will be sufficient to meet working capital requirements for at least the next 12 months[149] Investments and Receivables - Net cash used in investing activities was $25.5 million for the six months ended April 3, 2021, compared to $44.5 million for the same period in 2020[138] - The company sold approximately $371 million and $1.1 billion of accounts receivable under its programs for the six months ended April 3, 2021, and March 28, 2020, respectively[143] - As of April 3, 2021, the company had $27 million of accounts receivable sold under the RPA that remained outstanding[144] Liabilities and Contingencies - The company had accrued liabilities of $16 million for restructuring costs as of April 3, 2021[126] - The company had accrued liabilities of $38 million related to legal proceedings and contingencies[146] - The company had a liability of $122 million for uncertain tax positions as of April 3, 2021[147] Financial Instruments - The company had outstanding interest rate swaps with an aggregate notional amount of $350 million as of April 3, 2021, with an effective interest rate of approximately 4.3%[145] - As of April 3, 2021, the company had outstanding foreign currency forward contracts with an aggregate notional amount of $399 million[156] - The company had forward contracts related to cash flow hedges in various foreign currencies in the aggregate notional amount of $110 million as of April 3, 2021[157] Future Outlook - The company expects component shortages to persist through at least the end of calendar 2021, potentially impacting revenue[106] - Days sales outstanding (DSO) increased from 54 days as of October 3, 2020, to 59 days as of April 3, 2021[134] - The company repurchased 0.4 million shares for $9 million during the six months ended April 3, 2021, compared to 2.7 million shares for $70 million in the same period of 2020[140]

Q2 FY'21 Results May 3, 2021 Today's Presenters Kurt Adzema EVP & CFO Jure Sola Chairman & CEO Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the third quarter fiscal 2021 financial results, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, mo ...

Sanmina Corp (NASDAQ:SANM) Q2 2021 Earnings Conference Call May 3, 2021 5:00 PM ET Company Participants Jure Sola - Co-Founder, Executive Chairman & CEO Kurt Adzema - EVP & CFO Paige Melching - SVP, Investor Communications Conference Call Participants Ruplu Bhattacharya - Bank of America Merrill Lynch James Suva - Citigroup Christian Schwab - Craig-Hallum Operator Good day, and thank you for standing by, and welcome to the Sanmina Corporation's Second Quarter Fiscal 2021 Earnings Conference Call. [Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 2, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 0-21272 Sanmina Corporation (Exact name of registrant as specified in its charter) DE 77-0228183 (State or other jurisdiction of ...

Q1 FY'21 Results February 2, 2021 Today's Presenters Kurt Adzema EVP & CFO Jure Sola Chairman & CEO Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the second quarter fiscal 2021 financial results, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of facto ...

Financial Data and Key Metrics Changes - Q1 revenue was $1.76 billion, exceeding the midpoint of the outlook of $1.7 billion to $1.8 billion, with revenue growth sequentially after adjusting for the 13 weeks in Q1 compared to 14 weeks in Q4 FY 2020 [13][15] - Q1 non-GAAP gross margin was 8.3%, marking the third consecutive quarter above 8%, while non-GAAP operating margin was 5%, the second consecutive quarter of 5% or greater [13][15] - Q1 non-GAAP fully diluted earnings per share (EPS) was $1.02, exceeding the outlook of $0.75 to $0.85, and this was the second consecutive quarter that non-GAAP EPS exceeded $1 per share [14][16] Business Line Data and Key Metrics Changes - IMS revenue was $1.5 billion, with non-GAAP gross margin improving from 7.2% to 7.3%, marking the third consecutive quarter with gross margins above 7% [17] - Products and Services revenue was $319 million, with non-GAAP gross margin at 12.4%, also the third consecutive quarter above 12% [18] Market Data and Key Metrics Changes - In Q1, communications networks and cloud infrastructure accounted for 41% of revenue, while industrial, medical, defense, and automotive contributed 59% [25] - For Q2, approximately 60% of revenue is expected from industrial, medical, defense, and automotive markets, with 40% from communication networks and cloud infrastructure [26] Company Strategy and Development Direction - The company focuses on safety, customer satisfaction, driving efficiencies, and delivering free cash flow as key drivers of success [24] - Management aims to unlock total value by maximizing operating leverage and expanding into more profitable projects in key markets [29] - The long-term operating margin target is set at 5% to 6%, with a strong customer base to support future growth [30] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating through COVID-19 and macroeconomic challenges, with expectations for stable demand across market segments [21][22] - The outlook for Q2 revenue is projected to be between $1.65 billion and $1.75 billion, with non-GAAP diluted EPS expected in the range of $0.76 to $0.86 [22][33] Other Important Information - The balance sheet remains strong, with cash and cash equivalents increasing to $516 million and a low debt-to-cash ratio of 0.7 [19] - Inventory was down approximately $42 million, with inventory turns improving to 7.7 [20] Q&A Session Summary Question: Clarification on communications networks and cloud infrastructure performance - Management noted that while there were some push-outs due to component shortages, overall demand was stable, with improvements expected in cloud computing based on new programs won [36][37] Question: Insights on operating margin performance - Management highlighted that controlling operating expenses allowed for maintaining a 5% operating margin despite lower revenues, with guidance for Q2 reflecting seasonal impacts and uncertainties [39][40][42] Question: Component shortages and inventory trends - Management acknowledged manageable component shortages affecting some orders, with a focus on improving inventory turns while navigating supply chain challenges [44][46] Question: Lead times and challenges in supply chain - Management identified custom ASICs, components for 5G, and automotive as the most challenging areas due to demand pressures, but emphasized strong relationships with suppliers to navigate these issues [61][62]

Q4 & FY'20 Results November 10, 2020 Today's Presenters Kurt Adzema EVP & CFO Jure Sola Chairman & CEO Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the first quarter fiscal 2021 financial results, constitutes forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of fa ...

Sanmina Corporation (NASDAQ:SANM) Q4 2020 Results Conference Call November 10, 2020 5:00 PM ET Company Participants Paige Melching - SVP, Marketing and Investor Communications Jure Sola - Chairman and CEO Kurt Adzema - EVP and CFO Conference Call Participants Ruplu Bhattacharya - Bank of America Jim Suva - Citigroup Christian Schwab - Craig-Hallum Operator Ladies and gentlemen, thank you for standing by and welcome to the Sanmina CorporationÂ's Fourth Quarter and Fiscal 2020 Year-End Earnings Conference Cal ...

| --- | --- | --- | --- | --- | --- | --- | |---------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Sanmina | | | | | | | | Q3 FY20 | | | | | | | | | | | | | | | | Results | | | | | | | | | | | | | | | | July 29, 2020 | | | | | | | WHAT WE MAKE, MAKES A DIFFERENCE Concept to Delivery / Advanced Technology / Manufacturing & Global Supply Chain Solutions / Systems & Intelligence Safe Harbor Statement Certain statements made during thi ...

Sanmina Corporation (NASDAQ:SANM) Q3 2020 Earnings Conference Call July 29, 2020 5:00 PM ET Company Participants Paige Melching - Senior Vice President, Marketing and Investor Communications Hartmut Liebel - Chief Executive Officer Kurt Adzema - Chief Financial Officer Conference Call Participants Ruplu Bhattacharya - Bank of America Jim Suva - Citigroup Christian Schwab - Craig-Hallum Operator Ladies and gentlemen, thank you for standing by and welcome to the Sanmina CorporationÂ's Third Quarter Fiscal 202 ...