Plexus Closes Out Strong Fiscal Q4, 2014
NEENAH, WI -- Plexus today announced fiscal fourth quarter net income rose 8.1% to $26.5 million on a 7.4% hike in sales.
For the period ended Sept. 27, the EMS company recorded revenue of $666.2 million. Gross margin was down 20 basis points to 9.4%, while operating margin rose 10 basis points to 4.8%.
During the quarter, Plexus won 41 new programs from which it anticipates approximately $170 million in annualized revenue when fully ramped into production.
Cash cycle days were 56 days, and the company generated $32.1 million in cash flow from operations during the quarter, offset in part by capital investments of $8.3 million.
For the year, Plexus' revenue was up 6.7% to $2.4 million. The net profit was up 6% to $87.2 million, and cash from operations was $89.8 million.
The company guided for December quarter sales of $630 million to $660 million.
Chairman, president and CEO Dean Foate said, "Fiscal fourth quarter revenues set a record revenue level for the company. This strong growth quarter contributed to record revenues of $2.4 billion for the full fiscal year."
Networking/communications remained the largest segment, at 35% of revenues during the quarter, followed by medical (28%), industrial/commercial (23%), and defense/security/aerospace (14%).
