Sanmina(US:SANM)2025-04-28 21:26Financial Performance - Net sales for the three months ended March 29, 2025, were $1,984,080, an increase of 8.1% compared to $1,834,595 for the same period in 2024[111] - Gross profit for the three months ended March 29, 2025, was $176,235, up from $154,757 in the same period in 2024, reflecting improved operating efficiencies[111] - Operating income for the three months ended March 29, 2025, increased to $91,616 from $75,961 in the same period in 2024[111] - Net income attributable to common shareholders for the three months ended March 29, 2025, was $64,208, compared to $52,485 for the same period in 2024[111] - The gross margin for the three months ended March 29, 2025, increased to 8.9% from 8.4% in the same period in 2024[113] Segment Performance - Sales in the Communications Networks and Cloud Infrastructure segment increased by 20.3% to $123,593 for the three months ended March 29, 2025, compared to $102,700 in the same period in 2024[112] Expenses and Taxation - Selling, general and administrative expenses for the three months ended March 29, 2025, were $76 million, up from $69 million in the same period in 2024[116] - The provision for income taxes for the three months ended March 29, 2025, was $18 million, representing an effective tax rate of 20%[118] Cash Flow and Liquidity - Net cash provided by operating activities for the six months ended March 29, 2025, was $220,796, compared to $198,342 for the same period in 2024[120] - As of March 29, 2025, cash and cash equivalents were $647 million, an increase from $626 million as of September 28, 2024[124] - Working capital was $2.0 billion as of March 29, 2025, compared to $1.9 billion as of September 28, 2024[124] - Net cash provided by operating activities for the six months ended March 29, 2025, was $221 million[125] - The company generated $237 million of cash from earnings, excluding non-cash items, during the six months ended March 29, 2025[126] - Net cash used in investing activities was $13 million for the six months ended March 29, 2025[127] - Net cash used in financing activities was $147 million for the six months ended March 29, 2025, including $100 million for stock repurchases[129] - The company repurchased 1 million shares for $100 million during the six months ended March 29, 2025[130] - The company believes existing cash resources will be sufficient to meet working capital requirements for at least the next twelve months[138] - As of March 29, 2025, 27% of the cash balance was held in the United States[140] Strategic Initiatives - The company aims to diversify into mission-critical markets and create a portfolio of more complex, higher technology products with longer product life cycles[108] Liabilities - As of March 29, 2025, the company had a liability of $55 million for uncertain tax positions[136]