Sanmina Posts Fiscal Q1 Revenue Up 12.4%
SAN JOSE – Sanmina reported fiscal first quarter revenue of $1.72 billion, up 12.4% year-over-year and 3% sequentially.
GAAP net income for the period ended Dec. 31 was $44.9 million, an increase of 66% compared to the same quarter the previous year. GAAP operating income was $58.7 million, or 3.4% of revenue, compared to $54.1 million, or 3.5% of revenue, for the fiscal first quarter 2016.
“Solid execution and growth in our end-markets were key drivers for our improved financial results in the quarter,” said Sanmina chairman and CEO Jure Sola.
EMS revenue in the fiscal first quarter was $1.4 billion, up 14.1% year-over-year and 3.1% sequentially. For the full year fiscal 2016, EMS revenue was $5.47 billion, up 9% compared to the previous fiscal year.
PCB revenue for the fiscal first quarter was $351 million, an increase of 1.4% year-over-year and 2.6% sequentially.
For its fiscal second quarter, the firm expects total revenue between $1.68 billion and $1.73 billion.
