SAN JOSE, CA – Sanmina reported fiscal third quarter revenue was $1.81 billion, up 5.8% year-over-year and 7.7% sequentially.

GAAP net income in the third quarter ended June 30 was $34 million, down 6.6% compared to the same period last year. GAAP operating income was $47.1 million, or 2.6% of revenue, compared to $66.6 million, or 3.9% of revenue, for the fiscal third quarter of 2017.

The company's integrated manufacturing solutions unit (EMS) saw sales rise 5.7% to $1.49 billion. The PCB and components unit experienced an 8.4% hike in sales to $375 million.

"We achieved a significant milestone in our third quarter with revenue of $1.81 billion, the highest quarterly revenue since 2008, when the company refined its strategy to focus on our customers' mission-critical products, services and supply chain needs," said CEO Bob Eulau. "Revenue was up 8.2% sequentially and 6% year-over-year, driven by new program ramps and solid demand across all of our end-market segments. Despite strong revenue, profitability was negatively impacted by unfavorable costs and inefficiencies associated with the ongoing supply constrained environment."

Ending cash and cash equivalents were $404.8 million. Cash flow from operations during the quarter was $61.8 million.

For the fiscal fourth quarter, Sanmina expects revenue between $1.825 billion and $1.875 billion.

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