Sanmina Reports 28% YoY Gain in Fiscal Q3 Sales
SAN JOSE -- Sanmina today reported fiscal third quarter revenue of $2.02 billion, up 28% from a year ago.
The net profit for the period ended Jul. 2 was $79.5 million, down from $117.4 million in 2021.
Gross profit rose almost $30 million in the period to $165 million.
GAAP operating margin was 4.7%. Cash flow from operations was $102 million and free cash flow was $65 million.
"I am pleased with our strong results for the third fiscal quarter. Revenue was up 5.6% sequentially. Revenue exceeded our outlook driven by strong demand from all our end-markets coupled with the excellent job our team did to secure supply. Solid execution, favorable mix and operating leverage contributed to our strong non-GAAP operating margin of 5.5% for the quarter," stated Jure Sola, chairman and chief executive. "I am pleased with our continued operational and financial execution which further strengthens our value proposition to our customers and shareholders."
"As we look to our fourth quarter we continue to see strong demand from our customers. Based on our fourth quarter outlook, we expect fiscal year 2022 revenue growth of approximately 14%."
Sanmina guided for fiscal fourth quarter revenue of $1.95 billion to $2.05 billion.
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