SANMINA reported results for the quarter with revenue of $3.46B, net income of $125.31M and diluted EPS of $2.12, each up about 69% year over year, driven largely by the completed ZT Systems acquisition and higher shipments into cloud and communications markets.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$3.46B$2.04B69.7% | Net income²$125.31M$72.89M71.9% | Diluted EPS³$2.12$1.2668.3% |
¹ Reported as “Net sales”. ² Reported as “Net income before noncontrolling interest”. ³ Reported as “Net income attributable to common shareholders per share”.
Business Highlights
- Revenue growth of roughly 70% year over year was driven largely by the acquisition of ZT Systems and ramping demand in cloud infrastructure.
- Channel mix shifted materially toward Communications Networks and Cloud/AI, now representing more than 60% of sales, supported by program wins and volume ramps.
- SANMINA established a strategic NPI relationship with AMD following the ZT acquisition to accelerate AMD AI system deployments.
- The company completed integration of ZT Systems into its IMS segment and finalized a working capital adjustment that reduced goodwill; IMS gross margins improved while CPS margins were pressured by manufacturing inefficiencies.
Original SEC Filing:
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