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Written by Mike Buetow
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Friday, 12 June 2009 09:18 |
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NEENAH, WI -- The outlook for Plexus in fiscal 2009 is stabilizing, the EMS company told analysts Wednesday. The company reiterated its long-term target of 15 to 18% growth, saying it could reach $3.4 billion in sales by fiscal 2013.
According to Sherri Scribner of Deutsche Bank's equity research group, while Plexus executives were not willing to say that the environment has significantly improved, the company's business appears to have stabilized and customers are more confident. Plexus also indicated it will pursue additional mechatronics deals such as the estimated $60 million a year program with Coca-Cola, for which it has manufactured 14 systems to date. Coke is expected to become a top 5 customer for Plexus next year, reaching 3% of sales in fiscal 2010. DB estimates Plexus will reach fiscal 2011 revenue of $1.99 billion.
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