Sanmina-SCI Drops to Loss
SAN JOSE -- Revenues of EMS provider Sanmina-SCI fell 8% to $2.83 billion and the company was hit with a quarterly loss of $202,000 due to restructuring charges taken in its fiscal third quarter.
Sanmina-SCI recorded a profit of $11.4 million last year. For the June quarter, the pro-forma profit was $24.4 million, down from $34.4 million a year ago.
Pro-forma excludes one-time items such as restructuring costs and impairment charges.
Gross margins were 5.7%, the firm's highest level in four years.
In a statement, Jure Sola, chairman and chief executive, said, "In the quarter, we saw a more favorable mix of business and further penetration of our end-to-end, technology-driven solutions, which led to an improvement in our margins."
Sanmina-SCI guided for fourth-quarter revenue of $2.65 billion to $2.8 billion.
