NEENAH, WI -- Plexus today announced fiscal fourth quarter revenue rose 5.6% sequentially and 14% from year ago to $913 million.

For the quarter ended Oct. 3, the EMS company said net income inched up 2.4% to $37.7 million.

Plexus generated $109 million in free cash flow during the fiscal fourth quarter, well above company projections.

The gross profit rose 14.7% to $89.2 million, and operating profits jumped 34% to $50.4 million. The GAAP operating margin in the fourth quarter was 5.5%, up 90 basis points from 2019 and the second consecutive quarter of operating margin above 5%.

The EMS company won 44 manufacturing programs during the quarter representing $286 million in annualized revenue when fully ramped into production. Trailing four quarter wins total $952 million in annualized revenue when fully ramped into production.

For the year, revenue climbed to $3.4 billion, up 7% from fiscal 2019.

“Our team delivered outstanding results in the fiscal fourth quarter, achieving record revenue of $913 million, both exceeding the top end of our guidance ranges," said Todd Kelsey, president and CEO. "Strong demand in our healthcare/life sciences and industrial/commercial sectors fueled this growth.

Kelsey guided for revenue in the range of $810 million to $850 million in the current quarter.

“In alignment with our prior comments, we expect demand to moderate in the fiscal first quarter of 2021. We project continued operating strength and are guiding GAAP operating margin for the quarter in the range of 4.9% to 5.3%. Our guidance assumes that Covid-19 will not materially impact end-markets or our operations beyond what has already occurred. We expect a return to quarterly sequential revenue growth by the second half of fiscal 2021.”

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