NEENAH, WI – Plexus reported fiscal third quarter revenue ended July 2 of $667.6 million, down 0.3% year-over-year and up 7.9% sequentially.

Net income for the quarter was $26.1 million, an increase of 9.7% compared to the same fiscal quarter last year, and up 55.5% sequentially.

Operating profit was $30.9 million, up 8% year-over-year and 32.4% sequentially.

The electronics manufacturer won 46 programs during the quarter, representing approximately $194 million in annualized revenue when fully ramped into production.

“We delivered a solid fiscal third quarter, with revenue up 8% sequentially and operating margin nicely in our target range,” said Dean Foate, chairman, president and CEO. “Relative to our guidance, revenue was at the high-end. Improved operating performance and efficient management of working capital enabled us to deliver ROIC performance of 13%, or 200 basis points above our weighted average cost of capital.”

The firm expects fiscal fourth quarter 2016 revenue of $655 million to $685 million, anticipating new program ramps in
Industrial/Commercial and Defense/Security/Aerospace market sectors.