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Sanmina-SCI Q3 Sales Plummet

Published: 23 July 2009
 by Staff
SAN JOSE, CA -- Sanmina-SCI Corp. reported a loss of $41.1 million on sales of $1.21 billion for the third quarter ended June 27. Revenues were down 37% year-over-year.

Non-GAAP gross profit was $77.1 million, or 6.4% of revenue, compared to gross profit of $70.6 million, or 5.9% of revenue, in the second quarter. Non-GAAP operating income was $17.1 million, or 1.4% of revenue, for the quarter compared to $11.4 million, or 1% of revenue in the prior quarter.

The component business, which includes printed circuit boards, back planes, mechanical systems and enclosures, had a positive book-to-bill. In the third quarter, it was 1.221 (1.0 being par). This is due in part to new business wins during the quarter which were strong for the component business segment. 

By market segments, Sanmina-SCI saw the following trends. The market communication segment, accounting for about 44% of Sanmina-SCI third-quarter revenue, was flat. The medical market (14% of revenue) was down 4%. Enterprise computing (15% of revenue) was up 4%. Industrial, automotive, defense and aerospace (13% of revenue) was up 11%. Multimedia products (14% of revenue) were flat.
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