SANMINA REPORTS FOURTH QUARTER AND FISCAL 2023 FINANCIAL RESULTS

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[{"type":"text","content":"SAN JOSE, Calif., Nov. 6, 2023 /PRNewswire/ -- Sanmina Corporation (\"Sanmina\" or the \"Company\") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported unaudited financial results for the fourth quarter and fiscal year ended September 30, 2023 and outlook for its fiscal first quarter ending December 30, 2023.\n\nFourth Quarter Fiscal 2023 Financial Highlights\n• Revenue: $2.05 billion\n• GAAP operating margin: 4.8%\n• GAAP diluted EPS: $1.04\n \n• Non-GAAP(1) operating margin: 5.7%\n• Non-GAAP diluted EPS: $1.42\nFiscal Year 2023 Financial Highlights\n• Revenue: $8.9 billion\n• GAAP operating margin: 5.1%\n• GAAP diluted EPS: $5.18\n \n• Non-GAAP operating margin: 5.8%\n• Non-GAAP diluted EPS: $6.26\nAdditional Highlights\n• Cash flow from operations: Q4 $77 million and FY'23 $235 million\n• Free cash flow: $39 million in Q4 and $45 million in FY'23\n• Share repurchases: 603,776 shares for $33 million in Q4 and 1.58 million shares for $84 million in FY'23\n• Q4 ending cash and cash equivalents: $668 million\n• Q4 non-GAAP pre-tax ROIC: 26.4%\n \n(1)Non-GAAP financial measures exclude charges or gains relating to: stock-based compensation expenses; restructuring costs (including employee severance costs, environmental investigation, remediation and related costs and other charges related to closing and consolidating facilities); 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...

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