Slide 1: Third Quarter Fiscal 2015 Results
Third Quarter Fiscal 2015 Results Quarter Ended June 27, 2015 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the fourth 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 ma
Slide 3: Non-GAAP Financial Results Compared to Outlook
Non-GAAP Financial Results Compared to Outlook Q3'15 (A) Q3'15 Outlook WAS Revenue: $1.54B $1.50 - $1.55B Diluted earnings per share: $0.53 $0.48 - $0.52 3
Slide 4: Financial Results
Financial Results (Unaudited) Three M onth Periods ($ in millions, ex c ept per share data) Q3'15 Q2'15 Q3'14 GAAP: Revenue $1,539 $1,528 $1,605 Net inc ome $24 $15 $21 Diluted earnings per share $0.29 $0.17 $0.24 Non-GAAP(1): Gross profit $123 $117 $129 O perating expense $64 $61 $68 O perating inc
Slide 5: Non-GAAP P&L Metrics
Non-GAAP P&L Metrics ($ in Millions) Revenue Gross Profit / Margin Operating Income / Margin Net Interest Expense *Q3’14 includes $1 million of additional interest incurred related to the redemption and refinancing of the 7% Senior Notes due 2019. 5
Slide 6: Segment Reporting – Revenue and Non-GAAP Gross Margin
Segment Reporting – Revenue and Non-GAAP Gross Margin* ($ 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) 6/27/15 3/28/15 6/28/14 Cash and cash equivalents $416 $408 $552 Accounts receivable, net $934 $922 $973 Inventories $874 $858 $880 Property, plant and equipment, net $565 $553 $564 Other assets $367 $376 $321 Total assets $3,157 $3,116 $3,290 Accounts payable $
Slide 8: Balance Sheet Metrics
Balance Sheet Metrics ($ in Millions) Cash and Cash Equivalents Inventory $ / Turns Cash Cycle Days ROIC 8
Slide 9: Q4'15 Outlook
Q4’15 Outlook(1) The following outlook is for the fourth fiscal quarter ending October 3, 2015. These statements are forward-looking and actual results may differ materially. Revenue: $1.55 - $1.65B Non-GAAP EPS: $0.52 - $0.58 (1) Outlook for the quarter ending October 3, 2015 is provided only on a
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: Q3'15 Revenue Breakdown By End-Market
Q3’15 Revenue Breakdown By End-Market Industrial/Medical/ Defense 41% Communications Networks 37% Embedded Computing & Storage 22% Communications Networks Industrial/Medical/Defense Embedded Computing & Storage (Networking, optical & wireless infrastructure) (Industrial equipment, energy, oil and ga
Slide 12: Q4'15 End-Market Outlook
Q4’15 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 Q4’15 Communications Networks (Networking, optical & wireless infrastructure)
Slide 13: Summary
Summary Q3’15: ‒ Good quarter results in this challenging environment ‒ Great free cash flow of $96M ‒ Excellent operational execution Q4’15: ‒ Demand is stable ‒ Continue to diversify our end-markets and grow partnerships ‒ Expect to continue to generate cash Rest of CY’15 ‒ We have an opport
Slide 14: Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP
Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP Quarter Ended June 27, 2015
Slide 15: Condensed Consolidated Balance Sheets
Sanmina Corporation Condensed Consolidated Balance Sheets (in thousands) (GAAP) June 27, September 27, 2015 2014 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 416,471 $ 466,607 Accounts receivable, net 934,152 979,475 Inventories 874,224 893,178 Prepaid expenses and other current as
Slide 16: Condensed Consolidated Statements of Income
Sanmina Corporation Condensed Consolidated Statements of Income (in thousands, except per share amounts) (GAAP) (Unaudited) Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2015 2014 2015 2014 Net sales $ 1,539,271 $ 1,604,727 $ 4,737,963 $ 4,528,937 Cost of sales 1,418,709 1
Slide 17: Reconciliation of Non-GAAP Measures
Sanmina Corporation Reconciliation of Non-GAAP Measures (in thousands, except per share amounts) (Unaudited) Three Month Periods Nine Month Periods Q3'15 Q2'15 Q3'14 FY15 FY14 GAAP Gross Profit $ 120,562 $ 115,263 $ 126,913 $ 362,171 $ 356,665 GAAP gross margin 7.8% 7.5% 7.9% 7.6% 7.9% Adjustments S
Slide 18: What we make, makes a difference
What we make, makes a difference” pa wat SANMINA 18