SAN JOSE – Sanmina-SCI Corp. reported fiscal first-quarter 2012 revenue of $1.5 billion, down 9.6% year-over-year and down 11.8% sequentially on slower demand for communications gear.

For the period ended Dec. 31, GAAP net income was $8.6 million, down nearly 70% year-over-year. GAAP operating income was $39.7 million, or 2.6% of revenue, down 35% compared to the same period last year. Operating margins fell 80 basis points sequentially to 3.1% on lower sales and weakness in the components business, which saw revenue drop 17% from the September period.

“The revenue decline in the first quarter was caused by weakness in the Communications Networks segment and the Thailand floods that impacted shipments to some Enterprise Computing & Storage and Multimedia customers,” said Jure Sola, chairman and CEO. “While our second quarter remains challenging, input from our customers indicates we should see improvements in the second half of 2012.”

Fiscal second-quarter revenue is expected to be between $1.45 billion and $1.55 billion. The company said inventory corrections and component constraints would remain an issue in the current quarter.

Sanmina-SCI is a electronics manufacturing services company and printed circuit board fabricator.

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