SANMINA REPORTS FOURTH QUARTER AND FISCAL 2023 FINANCIAL RESULTS

SAN JOSE, Calif., Nov. 6, 2023

Fourth Quarter Fiscal 2023 Financial Highlights •  Revenue: $2.05 billion •  GAAP operating margin: 4.8% •  GAAP diluted EPS: $1.04   •  Non-GAAP(1) operating margin: 5.7% ARIVA.DE Börsen-Geflüster Kurse Sanmina Corporation 64,93 $ -0,17% •  Non-GAAP diluted EPS: $1.42	Fiscal Year 2023 Financial Highlights •  Revenue: $8.9 billion •  GAAP operating margin: 5.1% •  GAAP diluted EPS: $5.18   •  Non-GAAP operating margin: 5.8% •  Non-GAAP diluted EPS: $6.26
Additional Highlights •  Cash flow from operations: Q4 $77 million and FY'23 $235 million •  Free cash flow: $39 million in Q4 and $45 million in FY'23 •  Share repurchases: 603,776 shares for $33 million in Q4 and 1.58 million shares for $84 million in FY'23 •  Q4 ending cash and cash equivalents: $668 million •  Q4 non-GAAP pre-tax ROIC: 26.4%

"We delivered strong fiscal 2023 financial results. Revenue was up 13 percent, non-GAAP operating margin expanded 80 basis points to 5.8 percent and non-GAAP earnings per share was up 34 percent year-over-year," stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation. "Revenue for the fourth quarter was down 7 percent sequentially due to ongoing customer inventory adjustments primarily in the communications end-market. Despite lower revenue, we delivered consistent non-GAAP operating margin sequentially and a 40 basis point improvement compared to the same quarter a year ago."  

"The team continues to demonstrate resilience in a dynamic market environment. Over the last year, we've made significant investments to support new programs, further diversify within our end-markets and expand our capabilities, positioning our business to capture future opportunities."

"Our first quarter outlook is down sequentially, driven by some customers continuing to adjust inventory levels and ongoing macroeconomic uncertainty. We expect headwinds for the next couple of quarters with an improvement in the back half of the year. We remain confident in our strategy and long-term financial performance," concluded Sola.  

First Quarter Fiscal 2024 Outlook
The following outlook is for the fiscal first quarter ending December 30, 2023. These statements are forward-looking and actual results may differ materially. 

• Revenue between $1.85 billion to $1.95 billion
• GAAP diluted earnings per share between $0.98 to $1.08
• Non-GAAP diluted earnings per share between $1.20 to $1.30

Safe Harbor Statement
The statements above concerning our financial outlook for the first quarter fiscal 2024 and our expectations for FY24 generally 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, including adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; geopolitical uncertainty, including from the war in Ukraine and conflict in the Middle East; and the other risk factors set forth in the Company's annual and quarterly reports filed with the Securities Exchange Commission.

The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.

Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the fourth quarter and fiscal year 2023 and outlook for the first quarter of fiscal 2024 on Monday, November 6, 2023 at 4:30 p.m. ET (1:30 p.m. PT). The access numbers are: domestic 833-816-1390 and international 412-317-0483. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q4 and FY'23 Webcast. Additional information in the form of a slide presentation is available on Sanmina's website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 877-344-7529 and international 412-317-0088, access code is 5486944.

About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.

Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610

Sanmina Corporation
Condensed Consolidated Balance Sheets
(in thousands)
(GAAP)
(Unaudited)
						September 30,		October 1,
						2023		2022
ASSETS
Current assets:
	Cash and cash equivalents					$        667,570		$        529,857
	Accounts receivable, net					1,230,771		1,138,894
	Contract assets					445,757		475,721
	Inventories					1,477,223		1,684,099
	Prepaid expenses and other current assets					58,249		62,044
		Total current assets				3,879,570		3,890,615
Property, plant and equipment, net						632,836		575,170
Deferred tax assets						177,597		209,554
Other						183,965		160,192
		Total assets				$     4,873,968		$     4,835,531
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
	Accounts payable					$     1,612,833		$     2,041,434
	Accrued liabilities					267,148		281,599
	Accrued payroll and related benefits					127,406		130,892
	Short-term debt, including current portion of long-term debt					25,945		17,500
		Total current liabilities				2,033,332		2,471,425
Long-term liabilities:
	Long-term debt					312,327		329,237
	Other					209,684 Werbung Mehr Nachrichten zur Sanmina Corporation Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 11.05.24 - wallstreet:online ... Passives Einkommen: Diese Dividendenaktie können Anleger getrost die nächsten Jahrzehnte halten 11.05.24 - XTB Let's Trade Crypto - die BITCOIN VIDEOanalyse am Wochenende 11.05.24 - Société Générale Verschnaufpause am deutschen Aktienmarkt Spezial aus aktuellem Anlass:    JanOne – Smallcap über Nacht mit Milliardentransaktionen! weiterlesen» Anzeige wo-site-teaser-box-16911_site-teaser-box_2024-05-11_09%253A00%253A00_2024-05-12_09%253A00%253A59