NEENAH, WI -- Plexus today reported revenue of $699 million for its fiscal second quarter ended Mar. 31.

Sales were up nearly 16% from a year ago. Net income swung to $12.3 million, down from $29.3 million last year. Operating income was 17.2 million, down from $32.3 million last year.

Operating margin was 2.5%.

During the quarter, Plexus won 41 manufacturing programs, representing approximately $255 million in annualized revenue when fully ramped into production.

In a press statement, Todd Kelsey, president and CEO, said, “We finished our fiscal second quarter with record revenue of $699 million as our Industrial/Commercial market sector strengthened during the quarter and our Healthcare/Life Sciences and Aerospace/Defense market sectors achieved solid sequential growth. The result was near the high-end of our guidance range and up approximately 16% from the comparable quarter last year. Our manufacturing wins were at the highest quarterly level in nearly four years at $255 million, positioning us well for continued future growth.”

The company also repatriated approximately $280 million from the Asia Pacific region during the period, and anticipates repatriating an additional $150 million during the fiscal third quarter. The EMS firm guided for fiscal third quarter revenue of $700 million to $740 million, or 3% sequential quarterly revenue growth and more than 15% revenue growth from the comparable quarter last year at the mid-point of guidance. Plexus forecast revenue growth in line with its 12% target in fiscal 2018, and operating margins to return to its target range of 4.7% to 5% for the remainder of fiscal 2018.

• Prev
• Next