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SANMINA REPORTS SECOND QUARTER FISCAL 2022 FINANCIAL RESULTS
SAN JOSE, Calif., May 2, 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., May 2, 2022 /PRNewswire/ -- Sanmina Corporation (\"Sanmina\" or the \"Company\") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal second quarter ended April 2, 2022 and outlook for its fiscal third quarter ending July 2, 2022.\nSecond Quarter Fiscal 2022 Financial Highlights\nRevenue: $1.91 billion, exceeded outlookGAAP operating margin: 4.3%GAAP diluted EPS: $0.83Non-GAAP(1) operating margin: 5.0%Non-GAAP diluted EPS: $1.14, exceeded outlookAdditional Second Quarter Highlights\nCash flow from operations: $79 millionFree cash flow: $52 millionShare repurchases: 2.8 million for approximately $109 millionEnding cash and cash equivalents: $560 millionNon-GAAP pre-tax ROIC: 27.9%(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 \n\"We are pleased with our second quarter financial results. Strong demand across our end-markets and solid execution from our teams were key contributors to revenue and non-GAAP earnings per share growth,\" stated Jure Sola, Chairman and Chief Executive Officer.\n\"The team continues to show great resilience in this dyn...