SAN JOSE, CA – Sanmina reported revenue of $1.87 billion for the first quarter of its fiscal year, a 20.8% year-over-year decrease.

For the second quarter, the company projects revenue of $1.825 billion to $1.925 billion.

"Our team did a great job delivering first quarter financial results in line with our outlook. We are confident in our market-focused strategy and continue to position the company for long-term financial success," said Jure Sola, chairman and CEO. "Our outlook for the second quarter is essentially flat with the prior quarter and is in line with our expectations for the first half of fiscal 2024. We believe we will see sequential improvement as we move into the second half of the year."