Sanmina-SCI’s Q1 Net Income Plummets PDF Print E-mail
Written by Chelsey Drysdale   
Monday, 28 January 2013 17:45

SAN JOSESanmina-SCI Corp. reported first-quarter revenue of $1.49 billion, down 0.67% year-over-year, and down 5.7% sequentially.

GAAP net income was $621,000 compared to $8.6 million in the year-ago period.

“First quarter revenue and EPS were below expectations due to weak demand across most of our market segments,” said Jure Sola, chairman and CEO.  “Our second quarter guidance reflects seasonality, along with continued uncertainty in the macro-environment. Based on the pipeline of new business opportunities and the ramping of new programs in fiscal 2013, we should see improvements in the second half of the year.”

Second-quarter revenues are expected to be $1.4 billion to $1.45 billion.

 

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