Sanmina Reports Fourth Quarter And Fiscal Year End Results

 

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)












Three Months Ended


Twelve Months Ended












Sept. 27,


Sept. 28,


Sept. 27,


Sept. 28,



2014


2013


2014


2013










Net sales

$ 1,686,169


$ 1,505,323


$ 6,215,106


$  5,917,124

Cost of sales

1,554,551


1,389,989


5,726,823


5,490,307


Gross profit

131,618


115,334


488,283


426,817










Operating expenses:









Selling, general and administrative

57,745


57,130


242,288


238,072


Research and development

7,932


7,395


32,495


25,571


Amortization of intangible assets

425


474


1,798


1,896


Restructuring and integration costs 

3,979


4,647


12,550


24,910


Asset impairments

-


1,000


-


2,100


Gain on sales of long-lived assets

-


-


(530)


(23,361)


     Total operating expenses

70,081


70,646


288,601


269,188










Operating income

61,537


44,688


199,682


157,629











Interest income

343


179


1,533


1,014


Interest expense 

(7,410)


(8,560)


(30,804)


(41,004)


Other expense, net

(4,075)


2,204


(8,672)


(14,233)

Interest and other, net

(11,142)


(6,177)


(37,943)


(54,223)










Income before income taxes

50,395


38,511


161,739


103,406










Provision for (benefit from) income taxes 

(82,108)


(290)


(35,426)


24,055










Net income

$    132,503


$      38,801


$    197,165


$       79,351




















Basic income per share

$          1.61


$          0.46


$          2.38


$           0.96


Diluted income per share

$          1.52


$          0.44


$          2.27


$           0.93











Weighted-average shares used in computing 









per share amounts:









  Basic

82,528


83,790


82,872


82,834


  Diluted

86,997


87,201


86,731


85,403


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