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Sanmina Corporation (NASDAQ: SANM) is a premier integrated manufacturing solutions provider, dominantly serving the high-growth segments of the global Electronics Manufacturing Services (EMS) market. Known for its technological leadership, Sanmina delivers comprehensive end-to-end manufacturing solutions with superior quality and support, catering to Original Equipment Manufacturers (OEMs) in varied sectors such as communications networks, defense and aerospace, industrial and semiconductor systems, medical, multimedia, computing and storage, automotive, and clean technology.
Sanmina's operations are conducted across two primary business segments: Integrated Manufacturing Solutions, which includes printed circuit board assembly and constitutes the bulk of its revenue, and Components, Products, and Services, covering interconnect systems and mechanical systems. The company’s extensive footprint spans strategic locations worldwide, with significant revenues generated from the United States, China, and Mexico.
Recently, Sanmina reported financial results for the fiscal third quarter ending July 1, 2023, showcasing consistent operating margins and solid cash generation. With expected revenue growth of approximately 14% and non-GAAP EPS growth of around 35% for fiscal 2023, Sanmina continues to demonstrate robust performance across its key markets. The launch of the ONYX Series by its Viking Enterprise Solutions division further exemplifies its commitment to innovation, featuring high-density, network-attached unified storage solutions to meet the expanding data needs across various industries.
The company remains resilient amidst global challenges, such as supply chain constraints and geopolitical uncertainties. By focusing on quality, delivery, and customer satisfaction, Sanmina is well-positioned for continued success and growth in the dynamic EMS market.
Sanmina (NASDAQ: SANM) reported its Q4 and fiscal 2024 results. Q4 revenue reached $2.02 billion with GAAP EPS of $1.09 and non-GAAP EPS of $1.43. For fiscal 2024, revenue was $7.57 billion with GAAP EPS of $3.91 and non-GAAP EPS of $5.28. The company generated $340 million in operating cash flow for FY24 and repurchased 4.0 million shares for $227 million. Q4 showed 9.6% sequential revenue growth, driven by communications networks and cloud infrastructure. Management expects fiscal 2025 to be a growth year based on customer forecasts and current demand levels.
Sanmina (NASDAQ: SANM) has scheduled its fourth quarter and fiscal year 2024 earnings conference call for Monday, November 4, 2024, at 4:30 PM ET. The company will provide a live webcast presentation with supporting materials on their website's Investor Relations section. A replay of the webcast will be available after the event concludes.
42Q, a Sanmina division, has launched 42Q Connected Manufacturing, an innovative solution providing real-time visibility to distributed manufacturing. This cloud-based Manufacturing Execution System (MES) addresses manufacturing supply challenges by offering global visibility, optimization, and manufacturing supply insights. The solution integrates seamlessly with existing systems or can be deployed standalone in 4-12 weeks.
Key features include:
- A unified data ecosystem consolidating product and operational supply data
- Real-time analytics for immediate operational metrics and analysis
- Enhanced quality monitoring for faster response to deviations
The solution is immediately available worldwide and has already been implemented by global leaders and Fortune 500 companies. It aims to improve decision-making quality and operational efficiency by providing real-time data and analytics across multiple factories, suppliers, and partners.
Viking Enterprise Solutions, a division of Sanmina (NASDAQ: SANM), has won the prestigious 'Best of Show' award at FMS: the Future of Memory and Storage for its Viking Edge AI solution. This innovative platform addresses challenges in AI/ML workloads at the edge by moving computation closer to storage, reducing network infrastructure needs and data travel between storage and compute nodes.
The Viking Edge AI offers a turnkey 3U solution that enables quick deployment of applications without additional infrastructure. It tackles issues such as storage in edge devices, which often necessitates data collection in data centers or the cloud for processing. This approach significantly reduces network burden and delays in obtaining inference results.
The award highlights Viking Enterprise Solutions' commitment to excellence and innovation in addressing critical challenges in edge computing for AI applications across various industries, including smart factories, media & entertainment, transportation & logistics, and healthcare.
Sanmina (NASDAQ: SANM) reported its fiscal third quarter 2024 financial results, with revenue of $1.84 billion and GAAP diluted EPS of $0.91. The company's non-GAAP diluted EPS was $1.25, with a non-GAAP operating margin of 5.3%. Sanmina generated $90 million in cash flow from operations and ended the quarter with $658 million in cash and cash equivalents.
CEO Jure Sola noted that Q3 results were in line with expectations, and the company is seeing demand stabilization and improvement heading into Q4. Sanmina expects growth in fiscal 2025 and continues to focus on delivering profitable growth, free cash flow generation, and maintaining a strong balance sheet while returning value to shareholders.
Sanmina (NASDAQ: SANM) has announced its upcoming third quarter fiscal 2024 earnings conference call, scheduled for Monday, July 29, 2024, at 5:00 PM ET. The company will host a live webcast presentation along with supporting materials, which will be accessible on the Sanmina website's Investor Relations section at www.sanmina.com. For those unable to attend the live event, a webcast replay will be made available at the same location after the call concludes. This announcement provides investors and analysts with an opportunity to gain insights into Sanmina's financial performance and future outlook for the third quarter of fiscal 2024.
42Q, a Sanmina division, announced the launch of a new advanced chatbot powered by Amazon Bedrock on June 13, 2024. This chatbot aims to enhance customer interaction and streamline manufacturing processes by leveraging Amazon's generative AI technology. Key features include automated customer support, multi-language and multi-source capabilities, seamless integration with existing MES solutions, code generation, and customization and scalability. The chatbot offers real-time insights and automated responses to manufacturing challenges, enhancing operational efficiency and customer service. This innovation marks a significant advancement in 42Q's commitment to improving manufacturing automation and client support.
Viking Technology, part of Sanmina (Nasdaq: SANM), has launched a new 16GB DDR4 Multi-Chip Package (MCP). This MCP is designed for embedded systems and rugged applications, offering superior performance, efficiency, and compactness. The compact BGA footprint allows for significant space savings and enhanced memory density. Its rugged build, using soldered connections, ensures durability in demanding environments, such as defense and aerospace applications. The 16GB DDR4 MCP has proven effective in various military applications, including missile systems and fighter jets, highlighting its robustness and reliability.
Sanmina reported revenue of $1.83 billion and GAAP operating margin of 4.1% for the second quarter of fiscal 2024, with positive movement in previously depressed end-markets. The company remains optimistic about sequential improvement in 2024.
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