SAN JOSE, CA -- Sanmina-SCI Corporation reported financial results for Q4 and the fiscal year that ended September 27, 2008. Sales were down slightly YoY for the quarter and up narrowly for the year. Gross profit was 7.8% for Q4 and 7.4% for the year, both ahead of the previous year’s performance.

Excluding some items, income for Q4 rose to $24 million, or $0.05 per share, compared with a net loss of $9.9 million, or $0.02 per share in the same period a year ago.
 
Sales for the quarter fell 2.9% to $1.7 billion from $1.75 billion in the year-earlier quarter.
 
Sales for the fiscal year ended September 27, 2008 was $7.20 billion, compared to $7.14 billion for the year ended September 29, 2007.

Non-GAAP gross profit in Q4 was $132.8 million, or 7.8% of revenue, compared to gross profit of $109.9 million, or 6.3% of revenue, in Q4 a year ago. Non-GAAP gross profit for the fiscal year 2008 was $531.2 million, or 7.4% of revenue, compared to gross profit of $464.0 million, or 6.5% for the fiscal year 2007.  
 
Non-GAAP operating income was $59.3 million, or 3.5% of revenue in the quarter, compared to $22.7 million, or 1.3% of revenue, in the same period a year ago. Non-GAAP operating income for fiscal 2008 was $205.6 million, or 2.9% of revenue, compared to $101.6 million, or 1.4% of revenue for fiscal 2007.
 
Non-GAAP net income in Q4 was $24.0 million, or $0.05 diluted earnings per share, compared to a net loss of ($9.9) million, or ($0.02) diluted loss per share, in the same period a year ago. Non-GAAP net income for the full year was $69.6 million, or $0.13 diluted earnings per share, compared to net loss of ($58.3) million, or ($0.11) diluted loss per share in fiscal 2007.  

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