Business
Sanmina Reports Third Quarter Fiscal 2021 Financial Results
SAN JOSE, Calif., Aug. 2, 2021 /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., Aug. 2, 2021 /PRNewswire/ -- Sanmina Corporation (\"Sanmina\" or the \"Company\") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended July 3, 2021 and outlook for its fiscal fourth quarter ending October 2, 2021.\nThird Quarter Fiscal 2021 Financial Highlights\n• Revenue: $1.66 billion \n• GAAP operating margin: 4.5 percent\n• GAAP diluted EPS: $1.74(1)\n• Non-GAAP(2) operating margin: 5.0 percent \n• Non-GAAP diluted EPS: $0.99, exceeded outlook\nAdditional Third Quarter Highlights\n• Cash flow from operations: $104 million \n• Free cash flow: $92 million \n• Shares repurchased: 300,000 for $12.2 million\n• Ending cash and cash equivalents: $624 million\n• Non-GAAP pre-tax ROIC: 25.9 percent\n(1)\nIncludes $0.64 benefit relating to release of certain tax reserves. \n(2)\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\"The relentless focus and execution from our team enabled us to achieve third quarter non-GAAP operating margin at the high-end and non-GAAP earnings per share exceeded our outlook. Demand remained robust across ...