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Sanmina Reports Q2 Revenue Up 3.4%

Published: 20 April 2015
 by Chelsey Drysdale

SAN JOSE, CA – Sanmina reported fiscal second quarter revenue ended Mar. 28 of $1.53 billion, up 3.4% year-over-year and down 8.4% sequentially.

GAAP net income in the quarter was $14.7 million, a decrease of 29.3% compared to the same quarter of 2014. Operating income for the period was $49.7 million, or 3.3 % of revenue, compared to $45.3 million, or 3.1% of revenue, for the same period ended Mar. 29, 2014.

"I am pleased with our profitability and cash generation in an environment where we had unexpectedly soft revenue," said Jure Sola, chairman and CEO. "Our third quarter outlook reflects continued headwind in our communications networks segment, offset by growth in the industrial, medical and defense segment."

Third quarter revenue is expected to be between $1.5 billion and $1.55 billion.

 

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