NEENAH, WI -- Plexus today announced revenue for its fiscal third quarter fell 5% year-over-year to $814 million.

Sales were down 7.5% sequentially, the electronics manufacturing services company added.

During the period ended Jul. 3, gross profit fell 10.5% to $74.1 million, and operating income dropped 21% to $36.4 million. Net income was down 23% at $27.6 million.

Free cash flow was $31 million. Operating margin was 4.5%

The EMS company won 31 manufacturing programs representing approximately $275 million in annualized revenue when fully ramped into production. Trailing four quarter wins totaled a record $1.1 billion in annualized revenue when fully ramped.

In a press release, Todd Kelsey, president and CEO, Plexus, said, “We delivered fiscal third quarter revenue of $814 million, GAAP operating margin of 4.5% and GAAP EPS of $0.95. Revenue met the high end of our revised expectation provided [on] Jun. 8. This result was primarily due to the resilience and outstanding efforts of our team members in Penang, Malaysia, amid the challenging conditions created by government mandated workforce curtailments in response to the Covid-19 pandemic. GAAP operating margin and EPS significantly exceeded our updated outlook on the better than anticipated revenue performance of our Penang operations, an outstanding contribution from our Engineering Solutions team and lower than anticipated healthcare costs.”

The EMS company guided for October quarter sales of $875 million to $915 million and operating margins of 4.8% to 5.2%.

Kelsey said, "I see the potential to deliver double-digit revenue growth for fiscal 2022 while driving sustained industry leading operational performance. Enabling our growth expectations are the ongoing recovery in equipment used in elective medical procedures, an improving commercial aerospace market, sustained program win strength inclusive of new customer engagements, and our support of secular growth markets, including warehouse and factory automation, robotic assisted surgery and commercial space.”