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SANMINA REPORTS FIRST QUARTER FISCAL 2022 FINANCIAL RESULTS
SAN JOSE, Calif., Jan. 31, 2022 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions
About this update from Sanmina Corporation
[{"type":"text","content":" SAN JOSE, Calif., Jan. 31, 2022 /PRNewswire/ -- Sanmina Corporation (\"Sanmina\" or the \"Company\") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal first quarter ended January 1, 2022 and outlook for its fiscal second quarter ending April 2, 2022.\nFirst Quarter Fiscal 2022 Financial Highlights \nRevenue: $1.76 billion GAAP operating margin: 4.6% GAAP diluted EPS: $0.89 Non-GAAP(1) operating margin: 5.0% Non-GAAP diluted EPS: $1.08 Additional First Quarter Highlights \nCash flow from operations: $68 million Free cash flow: $51 million Share repurchases: 1.55 million for approximately $60 million Ending cash and cash equivalents: $628 million Non-GAAP pre-tax ROIC: 26.4 percent (1)\nNon-GAAP financial measures exclude charges or gains relating to: stock-based compensation expenses; restructuring costs (including employee severance and benefits costs and charges related to excess facilities and assets); acquisition and integration costs (consisting of costs associated with the acquisition and integration of acquired businesses into our operations); impairment charges for goodwill and other assets; amortization expense; and other unusual or infrequent items (e.g. charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, gains and losses on sales of assets, deferred tax adjustments and discrete tax items). See Schedule 1 below for more information regarding our use of non-GAAP financial measures, including the economic substance behind each exclusion, the manner in which management uses non-GAAP measures to conduct and evaluate the business, the material limitations associated with using such measures and the manner in which management compensates for such limitations. A reconciliation of the non-GAAP financial information contained in this release to their most directly comparable GAAP measures is included in the financial statements furnished with this release. \n\"This is an excellent start to our fiscal 2022. Revenue for the first quarter was up over the prior quarter supported by growth in our industrial, medical, defense and automotive segment. I am pleased by our solid execution and ability to expand our non-GAAP operating margin and non-GAAP earnings per share on a sequential basis and g...