NEW YORK – In remarks during its Analyst Day here this morning, Sanmina tightened its expectations for growth rates and operating margins during its next fiscal year as end-markets remain challenging.

While management did not provide specific revenue guidance, it expressed cautious optimism about fiscal 2013, which began Oct. 1. The firm now expects revenue and profit to grow during the current fiscal year for each of its two main sectors: Components, Products, and Services (CPS) and Integrated Manufacturing Services.

It forecast IMS growth of five to 10%, slightly below the fiscal 2012 target of 5 to 15% target, with operating margins of 4 to 5%. Sanmina's IMS unit had operating margins of 4.5 to 5.5% last year.

In CPS, which includes printed circuit board fabrication, the firm forecast growth of 10 to 20% and operating margins of 8 to 10%, down from last year’s target of 8 to 12%.

Executives added that the Interconnect and Mechanical Systems segment is currently underperforming those targets, while Design Engineering, Defense and Aerospace (now SCI), Newisys, Viking and Services groups are within the targets.