SAN JOSE, Oct. 30 -- Tier 1 EMS firm Sanmina-SCI Corp. reported fourth-quarter revenue rose 21% to $3.3 billion as the company reversed last year's steep loss.

For the three months ended Oct. 2, the company posted earnings of $11.5 million, up from a loss of $85.7 million last year. The results topped consensus forecasts, thanks to strength in PCs and wireless infrastructure.

Excluding items, income rose to $41.8 million, from $14 million last year. Gross margins were 5.3%. In a research note, Deutsche Bank said, "We believe a mix shift toward PCs, continued pricing pressure and management mishaps in enclosures combined to drive the margin shortfall."

The company generated $160 million in cash flow from operations during the quarter. Inventory turns improved to 11.5 from 10.4 sequentially.

For its 2004 fiscal year, Sanmina-SCI posted a loss of $5.3 million, up from a loss of $137.2 million in 2003. Excluding one-time charges, the company reported income of $128.9 million, up from $28.3 million last year. Yearly revenue rose to $12.2 billion, from $10.4 billion.

Sanmina guided for first-quarter earnings per share of 9 to 11 cents on revenue of $3.3 billion to $3.5 billion. Last year Sanmina-SCI reported revenue of $3 billion.

• Prev
• Next