Slide 1: Second Quarter Fiscal 2016 Results
Second Quarter Fiscal 2016 Results Quarter Ended April 2, 2016
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the third 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 Q2'16 (A) Q2'16 Outlook WAS Revenue: $1.61B $1.55 - $1.65B Diluted earnings per share: $0.63 $0.55 - $0.59 3
Slide 4: Financial Results
Financial Results (Unaudited) Three M onth Periods ($ in millions, ex c ept per share data) Q2'16 Q1'16 Q2'15 GAAP: Revenue $1,611 $1,535 $1,528 Net inc ome $30 $27 $15 Diluted earnings per share $0.39 $0.33 $0.17 (1) Non-GAAP : Gross profit $132 $126 $117 O perating expense $67 $65 $61 O perating i
Slide 5: Non-GAAP P&L Metrics
Non-GAAP P&L Metrics ($ in Millions) Gross Profit / Margin Operating Income / Margin 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) 4/2/16 1/2/16 3/28/15 Cash and cash equivalents $407 $398 $408 Accounts receivable, net 999 930 922 Inventories 923 896 858 Property, plant and equipment, net 612 586 553 Deferred tax assets 476 485 236 Other assets 182 135 140 Total assets $3,598 $3,431 $3,116
Slide 8: Balance Sheet Metrics
Balance Sheet Metrics ($ in Millions) Cash and Cash Equivalents Inventory $ / Turns Cash Cycle Days Pre-Tax ROIC 8
Slide 9: Q3'16 Outlook
Q3’16 Outlook(1) The following outlook is for the third fiscal quarter ending July 2, 2016. These statements are forward-looking and actual results may differ materially. Revenue: $1.625 - $1.675B Non-GAAP EPS: $0.61 - $0.65 (1) Outlook for the quarter ending July 2, 2016 is provided only on a non-G
Slide 10: 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 11: Q2'16 Revenue Breakdown By End-Market
Q2’16 Revenue Breakdown By End-Market Communications Networks 36% Industrial/Medical/ Defense 42% Embedded Computing & Storage 22% Industrial/Medical/Defense Communications Networks Embedded Computing & Storage (Industrial equipment, energy, oil and gas, (Networking, optical & wireless infrastructur
Slide 12: Q3'16 End-Market Outlook
Q3’16 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 13: Summary: Continue to Create Shareholder Value
Summary Q2’16: Solid quarter Growth and margin improvement Q/Q and Y/Y Q3’16: Stable demand Growth driven by new wins Rest of FY’16: Remain confident Opportunity to continue to build a stronger Sanmina Continue to Create Shareholder Value 13
Slide 14: Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP
Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP Quarter Ended April 2, 2016
Slide 15: GAAP Condensed Consolidated Balance Sheet
GAAP Condensed Consolidated Balance Sheet April 2, October 3, 2016 2015 (in thousands) (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 407,319 $ 412,253 Accounts receivable, net 998,600 936,952 Inventories 922,704 918,728 Prepaid expenses and other current assets 64,313 55,047 Total c
Slide 16: GAAP Condensed Consolidated Statement of Operations
GAAP Condensed Consolidated Statement of Operations (Unaudited) Three Months Ended Six Months Ended April 2, March 28, April 2, March 28, (in thousands, except per share data) 2016 2015 2016 2015 Net sales $ 1,611,174 $ 1,527,530 $ 3,145,888 $ 3,198,692 Cost of sales 1,474,462 1,412,267 2,885,538 2,
Slide 17: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Unaudited) Three Month Periods Six Month Periods (in thousands, except per share data) Q2'16 Q1'16 Q2'15 FY16 FY15 GAAP Gross Profit $ 136,712 $ 123,638 $ 115,263 $ 260,350 $ 241,609 GAAP gross margin 8.5% 8.1% 7.5% 8.3% 7.6% Adjustments Stock compensation expens
Slide 18: What we make, makes a difference
What we make, makes a difference” pa wat SANMINA