Slide 1: Fourth Quarter and Fiscal Year End Results
Fourth Quarter and Fiscal Year End Results Quarter Ended October 3, 2015
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the first quarter, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ mat
Slide 3: Non-GAAP Financial Results Compared to Outlook
Non-GAAP Financial Results Compared to Outlook Q4'15 (A) Q4'15 Outlook WAS Revenue: $1.64B $1.55 - $1.65B Diluted earnings per share: $0.57 $0.52 - $0.58 3
Slide 4: Financial Results
Financial Results (Unaudited) Three Month Periods Twelve Month Periods ($ in millions, exc ept per share data) Q4'15 Q3'15 Q4'14 FY'15 FY'14 GAAP: Revenue $1,637 $1,539 $1,686 $6,375 $6,215 Net income $315 $24 $133 $377 $197 Diluted earnings per share (1) $3.78 $0.29 $1.52 $4.41 $2.27 Non-GAAP(2): R
Slide 5: Non-GAAP P&L Metrics
Non-GAAP P&L Metrics ($ in Millions) Revenue Gross Profit / Margin Operating Income / Margin Net Interest Expense 5
Slide 6: Segment Reporting – Revenue and Non-GAAP Gross Margin
Segment Reporting – Revenue and Non-GAAP Gross Margin* ($ in Millions) Integrated Manufacturing Solutions Components, Products and Services Integrated Manufacturing Solutions Components, Products & Services PCB Assembly & Test Components Products Final System Assembly & Test ‒ Interconnect S
Slide 7: Summary Balance Sheet
Summary Balance Sheet ($ in Millions) 10/3/15 6/27/15 9/27/14 Cash and cash equivalents $412 $416 $467 Accounts receivable, net $937 $934 $979 Inventories $919 $874 $893 Property, plant and equipment, net $591 $565 $563 Deferred tax assets (current and long-term) $497 $231 $255 Other assets $137 $13
Slide 8: Balance Sheet Metrics
Balance Sheet Metrics ($ in Millions) Cash and Cash Equivalents Inventory $ / Turns Cash Cycle Days ROIC 8
Slide 9: Solid Balance Sheet Improvements
Solid Balance Sheet Improvements ($ in Millions) Cash Flow From Operations (GAAP) Long-Term Debt (GAAP) Includes Current Portion Net Interest Expense (GAAP) Gross Leverage (Total Debt/EBITDA) Excludes interest rate swap. 9
Slide 10: Share Repurchase Program
Share Repurchase Program Last two years: $196 million in share repurchases $204 million authorized for future repurchases 10
Slide 11: Q1'16 Outlook
Q1’16 Outlook(1) The following outlook is for the first fiscal quarter ending January 2, 2016. These statements are forward-looking and actual results may differ materially. Revenue: $1.55 - $1.60B Non-GAAP EPS: $0.56 - $0.60 (1) Outlook for the quarter ending January 2, 2016 is provided only on a n
Slide 12: CEO Remarks
Pa wall SANMINA CEO Remarks Communications Networks e Industrial e« MedicalSystems e Defense & Aerospace « Embedded Computing & Storage What we make, makes a difference™
Slide 13: Q4'15 Revenue Breakdown By End-Market
Q4’15 Revenue Breakdown By End-Market Communications Networks 38% Industrial/Medical/ Defense 40% Embedded Computing & Storage 22% Industrial/Medical/Defense Communications Networks Embedded Computing & Storage (Industrial equipment, energy, oil and gas, (Networking, optical & wireless infrastructur
Slide 14: Q1'16 End-Market Outlook
Q1’16 End-Market Outlook Collaborative Integrated Direct Order Interconnect Mechanical Optical / RF Products and Design and Manufacturing Fulfillment Systems Systems Solutions Services Engineering Solutions and Logistics Industrial/Medical/Defense (Industrial equipment, energy, oil and gas and med
Slide 15: Summary Continue to Create Shareholder Value
Summary Q4’15: ‒ Solid quarter – In line with outlook FY’15 ‒ Revenue growth, operating margin improvement, EPS expansion and solid cash generation ‒ Diversification continues with growth in industrial/medical/defense Q1’16: ‒ Normal seasonality ‒ Expect to generate cash FY’16: ‒ Continue to
Slide 16: Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP
Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP Quarter Ended October 3, 2015
Slide 17: GAAP Condensed Consolidated Balance Sheet
GAAP Condensed Consolidated Balance Sheet October 3, September 27, ($ in thousdands) 2015 2014 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 412,253 $ 466,607 Accounts receivable, net 936,952 979,475 Inventories 918,728 893,178 Prepaid expenses and other current assets 129,982 111,7
Slide 18: GAAP Condensed Consolidated Statement of Operations
GAAP Condensed Consolidated Statement of Operations (Unaudited) Three Months Ended Twelve Months Ended Oct. 3, Sept. 27, Oct. 3, Sept. 27, ($ in thousdands, except per share amounts) 2015 2014 2015 2014 Net sales $ 1,636,578 $ 1,686,169 $ 6,374,541 $ 6,215,106 Cost of sales 1,514,893 1,554,551 5,890
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Unaudited) Three Month Periods Twelve Month Periods ($ in thousands, except per share amounts) Q4'15 Q3'15 Q4'14 FY15 FY14 GAAP Revenue $ 1,636,578 $ 1,539,271 $ 1,686,169 $ 6,374,541 $ 6,215,106 Adjustments Distressed customer charges (2) - - 1,856 - 1,856 Non-G
Slide 20: Reconciliation of Non-GAAP Measures (Continued)
Reconciliation of Non-GAAP Measures (Continued) (Unaudited) Three Month Periods Twelve Month Periods ($ in thousands, except per share amounts) Q4'15 Q3'15 Q4'14 FY15 FY14 GAAP Interest and Other, net $ (5,943) $ (6,992) $ (11,142) $ (26,908) $ (37,943) Adjustments Loss on extinguishment of debt (4)
Slide 21: What we make, makes a difference
What we make, makes a difference” pa wat SANMINA