{"id":521470,"date":"2021-08-02T16:04:59","date_gmt":"2021-08-02T20:04:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sanmina-reports-third-quarter-fiscal-2021-financial-results\/"},"modified":"2021-08-02T16:04:59","modified_gmt":"2021-08-02T20:04:59","slug":"sanmina-reports-third-quarter-fiscal-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sanmina-reports-third-quarter-fiscal-2021-financial-results\/","title":{"rendered":"Sanmina Reports Third Quarter Fiscal 2021 Financial Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SAN JOSE, Calif.<\/span>, Aug. 2, 2021<\/span> \/PRNewswire\/ —\u00a0Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended July 3, 2021<\/span> and outlook for its fiscal fourth quarter ending October 2, 2021<\/span>.<\/p>\n

\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n Third Quarter Fiscal 2021 Financial Highlights<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n \u2022\u00a0 Revenue: $1.66 billion \u00a0<\/span>\n <\/p>\n

\n \u2022\u00a0 GAAP operating margin: 4.5 percent<\/span>\n <\/p>\n

\n \u2022\u00a0 GAAP diluted EPS: $1.74(1)<\/sup><\/span>\n <\/p>\n

\n \u2022\u00a0 Non-GAAP(2) <\/sup>operating margin: 5.0 percent <\/span>\n <\/p>\n

\n \u2022\u00a0 Non-GAAP diluted EPS: $0.99, exceeded outlook<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n
\n Additional Third Quarter Highlights<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n \u2022\u00a0 Cash flow from operations: $104 million <\/span>\n <\/p>\n

\n \u2022\u00a0 Free cash flow: $92 million \u00a0<\/span>\n <\/p>\n

\n \u2022\u00a0 Shares repurchased: 300,000 for $12.2 million<\/span>\n <\/p>\n

\n \u2022\u00a0 Ending cash and cash equivalents: $624 million<\/span>\n <\/p>\n

\n \u2022\u00a0 Non-GAAP pre-tax ROIC: 25.9 percent<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (1)<\/sup>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n Includes $0.64 benefit relating to release of certain tax reserves. <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n (2)<\/sup>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n Non-GAAP financial measures exclude charges or gains relating to: stock-based compensation expenses; restructuring costs (including employee
severance and benefits costs and charges related to excess facilities and assets); acquisition and integration costs (consisting of costs associated with
the acquisition and integration of acquired businesses into our operations); impairment charges for goodwill and other assets; amortization expense;
and other unusual or infrequent items (e.g. charges or benefits associated with distressed customers, expenses, charges and recoveries relating to
certain legal matters, gains and losses on sales of assets, deferred tax adjustments and discrete tax items).\u00a0\u00a0 See Schedule 1<\/u> below for more information
regarding our use of non-GAAP financial measures, including the economic substance behind each exclusion, the manner in which management uses
non-GAAP measures to conduct and evaluate the business, the material limitations associated with using such measures and the manner in which
management compensates for such limitations. A reconciliation of the non-GAAP financial information contained in this release to their most directly
comparable GAAP measures is included in the financial statements furnished with this release.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

“The relentless focus and execution from our team enabled us to achieve third quarter non-GAAP operating margin at the high-end and non-GAAP earnings per share exceeded our outlook. Demand remained robust across all of our end-markets; however, the continuing prevalence of the global supply chain constraints impacted our third quarter revenue,” stated Jure Sola<\/span>, Chairman and Chief Executive Officer of Sanmina Corporation.\u00a0 <\/p>\n

“Our fourth quarter outlook reflects strong demand across our customer base while taking into account our current estimate of the impact of the ongoing supply constraints. I am confident that our culture of operational agility will enable us to effectively navigate in this dynamic market environment.”\u00a0 <\/p>\n

\n Fourth Quarter Fiscal 2021 Outlook<\/b>\n <\/p>\n

The following outlook is for the fourth fiscal quarter ending October 2<\/span>, 2021.\u00a0 These statements are forward-looking and actual results may differ materially.\u00a0 <\/p>\n