NEENAH, WI – Plexus reported fiscal fourth quarter revenue of $670 million, up 2.6% year-over-year and 8.2% sequentially.
For the quarter ended Sept. 30, net income was $29 million, an increase of 52% compared to the same period last year and 13.4% sequentially. Operating income was $34 million, up 43.6% year-over-year and 15.3% sequentially.
During the fiscal fourth quarter, the firm won 34 manufacturing programs representing approximately $172 million in annualized revenue when fully ramped into production.
The firm posted fiscal 2017 revenue of $2.5 billion, up 45% from fiscal 2016.
“We finished the full year with record GAAP operating profit of $130 million, achieving operating margin of 5.1%,” said Todd Kelsey, president and CEO. “Further, we finished the fiscal fourth quarter with record revenue of $670 million, representing an 8% sequential increase from the fiscal third quarter.
“Looking ahead to fiscal 2018, we anticipate leveraging our recent strong wins momentum and robust funnel of qualified opportunities to achieve meaningful revenue growth. In our fiscal first quarter of 2018, strength in our Industrial/Commercial and Communications market sectors are expected to offset modest weakening within our Aerospace/Defense market sector. As a result, we are guiding fiscal first quarter 2018 revenue in the range of $665 million to $705 million.”