SAN JOSE – Sanmina reported fiscal third quarter net sales of $1.66 billion, up 0.18% year-over-year. For the quarter ended Jul. 3, net income was $117.4 million, an increase of 161.5% compared to the same period last year. Operating income was $74.3 million, up 15.9%.

"The relentless focus and execution from our team enabled us to achieve third quarter non-GAAP operating margin at the high-end, and non-GAAP earnings per share exceeded our outlook. Demand remained robust across all of our end-markets. However, the continuing prevalence of the global supply chain constraints impacted our third quarter revenue," said Jure Sola, chairman and CEO, Sanmina.

For the nine months ended July 3, net sales were $5.1 billion, growth of 0.5% year-over-year. Net income was $212.4 million, an increase of 141.1%. Operating income was $214.5 million, up 47.3% year-over-year.

Cash and cash equivalents as of July 3 were $623.8 million, compared to $480.5 million as of Oct. 3, 2020.

For the fiscal fourth quarter ending Oct. 2, Sanmina expects revenue between $1.65 billion and $1.75 billion.

"Our fourth quarter outlook reflects strong demand across our customer base, while taking into account our current estimate of the impact of the ongoing supply constraints. I am confident our culture of operational agility will enable us to effectively navigate in this dynamic market environment."

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