SAN JOSE, CA – Sanmina reported fiscal fourth quarter revenue ended Oct. 1 of $1.67 billion, up 1.8% year-over-year and flat sequentially.

GAAP net income for the quarter was $100.8 million, down 68% year-over-year. GAAP operating income was $55.1 million, or 3.3% of revenue, compared to $52.7 million, or 3.2% of revenue, for the same period a year ago.  

Revenue for the fiscal year ended Oct. 1 was $6.48 billion, up 1.7% compared to fiscal 2015. GAAP net income was $187.8 million, down 50.2% year-over-year. GAAP operating income was $224.8 million, up 10.7% compared to last year.

"We delivered solid financial results for the fourth quarter,” said chairman and CEO Jure Sola.  “Operating margin, EPS and cash flow from operations exceeded our expectations in spite of flat revenue.”  

Sanmina expects fiscal first quarter revenue ending Dec. 31 between $1.675 billion and $1.725 billion.