Welcome to our dedicated page for Sanmina news (Ticker: SANM), a resource for investors and traders seeking the latest updates and insights on Sanmina stock.
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 Corporation (NASDAQ: SANM) announced its second quarter fiscal 2023 earnings conference call, scheduled for Thursday, May 11, 2023, at 5:00 PM ET. A live webcast will be available on the Sanmina Investor Relations website, with a replay accessible post-event. Sanmina is recognized as a leading integrated manufacturing solutions provider in the Electronics Manufacturing Services (EMS) market, serving Original Equipment Manufacturers (OEMs) in sectors such as industrial, medical, defense, automotive, communications, and cloud infrastructure.
42Q, a division of Sanmina, announced its achievement of the Amazon Web Services (AWS) Manufacturing and Industrial Competency on April 18, 2023. This designation highlights 42Q's proficiency in providing cloud-based manufacturing solutions and validates its capabilities as an AWS Partner Network member. The company is recognized for its end-to-end digital transformation services in the manufacturing sector, supporting clients in leveraging cloud technology for improved operational efficiency.
The AWS Competency designation is granted only after a rigorous validation process, ensuring customers receive high-quality service from experienced partners. 42Q's team has collaborated with AWS for over a decade, delivering solutions that enhance customer growth and satisfaction, reflecting the company's commitment to ongoing innovation in the digital manufacturing landscape.
Sanmina Corporation (NASDAQ: SANM) reported strong financial results for Q1 FY2023, with revenues of $2.36 billion, a 7.2% sequential increase. The GAAP operating margin stood at 5.2% and diluted EPS was $1.48, while non-GAAP diluted EPS reached $1.64, reflecting a 9.5% increase. Cash flow from operations was $37 million, and the company ended the quarter with $735 million in cash. The CEO highlighted demand from new and existing programs as key growth drivers. For Q2 FY2023, the company aims for continued improvement.
Sanmina Corporation (NASDAQ: SANM) will host its first quarter fiscal 2023 earnings conference call on January 30, 2023, at 5:00 PM ET. The call will provide investors with insights into Sanmina's performance and future outlook. Participants can join the call via a webcast or dial in using domestic and international numbers provided in the announcement. Sanmina, a leading provider of integrated manufacturing solutions in the global Electronics Manufacturing Services market, is known for its technology leadership across various sectors including industrial, defense, and medical markets.
Sanmina Corporation (NASDAQ: SANM) announced the appointment of David V. Hedley III to its Board of Directors, effective December 5, 2022. With over 30 years in investment banking focusing on the technology sector, Hedley is currently the Chief Strategy Officer at Bramshill Investments, managing $4.5 billion in assets. He previously held senior roles at Ernst & Young Capital Advisors and other leading financial institutions. The Chairman, Jure Sola, expressed optimism about Hedley’s contributions to the company's future success.
Sanmina Corporation reported strong financial results for Q4 and FY 2022, with revenue reaching $2.2 billion for the quarter and $7.9 billion for the year.
GAAP operating margin was 5.0% with a diluted EPS of $1.08. Non-GAAP measures showed operating margins of 5.6% and diluted EPS of $1.50.
Cash flow from operations totaled $82 million in Q4, contributing to a free cash flow of $34 million.
Looking forward, Sanmina anticipates continued growth in FY 2023 based on strong demand and new opportunities.
Sanmina Corporation (NASDAQ: SANM) will host its fourth quarter and fiscal year 2022 earnings conference call on November 7, 2022, at 5:00 PM ET. The call will provide insights into the company’s performance in key markets, including industrial, defense, medical, automotive, communications networks, and cloud infrastructure. Investors can join the call by dialing 866.652.5200 domestically or 412.317.6060 internationally. More details can be found at www.sanmina.com.
Sanmina Corporation (NASDAQ: SANM) and Reliance Strategic Business Ventures Limited have finalized their joint venture to establish a state-of-the-art electronic manufacturing hub in India, supporting the 'Make in India' initiative. This partnership leverages Sanmina's 40 years of experience in advanced manufacturing and aims to enhance high technology infrastructure in communications, healthcare, and defense sectors. Operations will center in Chennai, with plans for future expansion. The joint venture promises to foster innovation and support hardware startups in India.
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