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Sanmina-SCI Reports Results for the Third Quarter Fiscal 2011
Date:7/25/2011

SAN JOSE, Calif., July 25, 2011 /PRNewswire/ -- Sanmina-SCI Corporation ("Sanmina-SCI" or the "Company") (NASDAQ GS: SANM), a leading global Electronics Manufacturing Services company, today reported financial results for the third quarter ended July 2, 2011.

(Logo: http://photos.prnewswire.com/prnh/20110707/SF30965LOGO)

Third Quarter Fiscal 2011 Highlights

  • Revenue of $1.67 billion, a 6.7 percent sequential improvement
  • GAAP operating margin of 3.2 percent, a 40 basis point sequential improvement
  • GAAP diluted earnings per share of $0.09

  • Non-GAAP(1) operating margin of 3.9 percent, a 50 basis point sequential improvement
  • Non-GAAP diluted earnings per share of $0.42, a $0.12 sequential improvement

  • Revenue for the third quarter was up 6.7 percent to $1.67 billion, compared to $1.57 billion in the prior quarter and up 3.0 percent compared to $1.63 billion for the same period of fiscal 2010.

    GAAP operating income in the third quarter was $52.9 million or 3.2 percent of revenue, compared to $61.7 million or 3.8 percent of revenue in the third quarter fiscal 2010.  GAAP net income in the third quarter was $7.2 million, a diluted earnings per share of $0.09, compared to $21.6 million, a diluted earnings per share of $0.26 for the same period of fiscal 2010.

    Non-GAAP operating income in the third quarter was $65.0 million or 3.9 percent of revenue, compared to $64.2 million or 3.9 percent of revenue in the third quarter fiscal 2010.  Non-GAAP net income in the third quarter was $35.1 million, a diluted earnings per share of $0.42, compared to $26.6 million, a diluted earnings per share of $0.32 for the same period a year ago.

    During the third quarter, the Company issued $500 million in principal amount 7% senior notes due in 2019.  The proceeds of the offer
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    SOURCE Sanmina-SCI Corporation
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