Business
Sanmina Reports Fourth Quarter And Full Fiscal 2020 Financial Results
SAN JOSE, Calif., Nov. 10, 2020 /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., Nov. 10, 2020 /PRNewswire/ -- Sanmina Corporation (\"Sanmina\" or the \"Company\") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fourth quarter and fiscal year ended October 3, 2020.\nFourth Quarter Fiscal 2020 Financial Highlights\nRevenue: $1.87 billion, exceeding outlook GAAP operating margin: 4.4 percent GAAP diluted EPS: $0.75 Non-GAAP(1) operating margin: 5.1 percent Non-GAAP diluted EPS: $1.10, exceeding outlookFiscal Year 2020 Financial Highlights\nRevenue: $6.96 billion GAAP diluted EPS: $1.97 Non-GAAP diluted EPS: $3.05Additional Highlights\nQ4 non-GAAP pre-tax ROIC: 28.3 percent Cash flow from operations: Q4 $80 million and FY'20 $301 million Free cash flow: Q4 $69 million and FY'20 $236 million Shares repurchases: Q4 3 million for $78 million and FY'20 6.4 million for $166 million Ending cash and cash equivalents: $481 million(1) Non-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 and redemptions of debt, deferred tax 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\"We delivered strong financial results for the fourth quarter. Revenue was up 13.3 percent over the prior quarter, operating margin expanded, EPS exce...