NEENAH, WI -- Plexus today announced fiscal second quarter revenue was $980 million for the period ended Mar. 29, up 1.4% year-over-year.
GAAP operating margin was 5% , and non-GAAP operating margin was 5.7%.
The EMS company guided for June quarter revenue of $1 billion to $1.04 billion and operating margin of 4.6% to 5%.
During the quarter Plexus won 42 manufacturing programs representing $205 million in annualized revenue when fully ramped into production. Free cash flow was $16.5 million, bringing fiscal year-to-date free cash to $43.6 million.
“Plexus generated strong fiscal second quarter financial performance, demonstrating the continued momentum of our operational and working capital efficiency initiatives," said Todd Kelsey, president and chief executive. "We achieved revenue of $980 million, inline with guidance, with non-GAAP operating margin of 5.7% at the high-end of guidance. In addition, free cash flow exceeded our expectations.”