Plexus' Profits Down in March Quarter PDF Print E-mail
Written by Mike Buetow   
Wednesday, 17 April 2013 20:13

NEENAH, WI -- Plexus reported net income of $17.98 million, down 10% year-over-year, for its fiscal second quarter.

Revenue ticked down 2.7% to $557.8 million, in part due to the EMS company's loss of its longtime largest customer, Juniper. Revenues were up 5% sequentially for the period ended March 30.

In a press release, chairman, president and CEO Dean Foate said, "Revenue performance in our Networking/Communications sector was meaningfully below our expectations as several customers struggled with end-market demand. While we experienced forecast volatility in other sectors, the end results for the quarter were relatively in line with our guidance. The previously disclosed disengagement of Juniper Networks remains on track, with production expected to cease as of the end of our fiscal third quarter of 2013."

The contract electronics assembler won 33 new programs during the period, from which it expects approximately $143 million in annualized revenue when fully ramped.

Gross margin was 9.3% on positive customer mix, and operating margin was 4.2%. Both figures beat company expectations.

The company guided for fiscal third quarter revenue of $550 million to $580 million.

By sector, netwokring and communications made up 38% of sales, healthcare/life sciences 23%, industrial 25% and defense/aerospace 14%. Plexus generated $27 million of free cash flow during the quarter.  Cash flow from operations was approximately $54 million. Capital expenditures were $27 million.

 

Columns

Eastern-US: China’s New Competitor?

Parity emerges among EMS Factories from Asia, Mexico and the US.

For the first time in years we see parity in the Eastern US among EMS factories from Asia, Mexico and the US. This EMS market condition will permit American OEMs (the EMS industry refers to OEMs as customers) to have more EMS pathways to choose from. Now more than ever, such EMS assignments will require deeper investigation relating to the OEMs’ evaluation of manufacturing strategies.

Read more...
 
The Human Touch

For those who count on the electronics industry for big feats, it’s been a remarkable couple of years.

Read more...
 

Features

Advances in Concentration Monitoring and Closed-Loop Control

Contaminated bath water skews refractive index results. New technology can accurately measure aqueous cleaning agent concentration.

Read more...
 
Circuits Disassembly: Materials Characterization and Failure Analysis

A systematic approach to nonconventional methods of encapsulant removal.

Read more...
 

Search

Search

Login

CB Login

Language

Language

English French German Italian Portuguese Russian Spanish
 

Products

Techspray Introduces Fine-L-Kote High Viscosity AR Conformal Coating
Fine-L-Kote high viscosity AR acrylic conformal coating reportedly widens the process window and flexibility. Can use as-is for dipping or thin down for spray systems. Is for selective spray systems...