Welcome to our dedicated page for Sanmina Corporat news (Ticker: SANM), a resource for investors and traders seeking the latest updates and insights on Sanmina Corporat 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) 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.
Sanmina Corporation (SANM) reported strong financial results for Q3 2022, with revenue of $2.02 billion, marking a 5.6% sequential increase. GAAP diluted EPS stood at $1.29, while non-GAAP diluted EPS reached $1.30, a 14.4% increase. The company generated $102 million in operational cash flow and $65 million in free cash flow, with 3.1 million shares repurchased for $124 million. Looking ahead, Sanmina anticipates a 14% revenue growth for FY 2022, highlighting strong customer demand and effective supply chain management.
Sanmina Corporation will host its third quarter fiscal 2022 earnings conference call on August 1, 2022, at 5:00 PM ET. The call will discuss key financial metrics and the company's performance in the current fiscal quarter. Interested parties can join by calling either 866.652.5200 for domestic or 412.317.6060 for international access. As a leader in the Electronics Manufacturing Services (EMS)
Viking Enterprise Solutions, a division of Sanmina, has launched the VDS41022 JBOD storage enclosure, offering the highest density solution in a one-meter rack. This 4U design supports 24G SAS (SAS-4) storage protocols, accommodating 102 large form factor drives with over 2 petabytes of storage. The patented thermal management enhances performance in high-density environments, while its unique layout supports both SAS-3 and SAS-4 infrastructures. The VDS41022 is now shipping, anticipating increased demand for 24G SAS protocols.
Sanmina reported strong Q2 2022 financial results with revenue of $1.91 billion, exceeding expectations. The GAAP operating margin was 4.3%, with a GAAP diluted EPS of $0.83. Non-GAAP figures showed an operating margin of 5.0% and a diluted EPS of $1.14, also above guidance. The company generated cash flow from operations of $79 million and $52 million in free cash flow. Sanmina announced an expansion of its share repurchase program by an additional $200 million. The outlook for Q3 remains optimistic with continued growth expected.
Sanmina Corporation (NASDAQ: SANM) will hold its second quarter fiscal 2022 earnings conference call on May 2, 2022, at 5:00 PM ET. This conference will provide stakeholders with insights into the company's financial performance in the second quarter.
For participants, the domestic dial-in number is 866.891.4420 and the international number is 201.383.2868. Further information can be accessed on the official website.
Viking Enterprise Solutions, a division of Sanmina (Nasdaq: SANM), has launched Cloud Native Obsidian (CNO), an on-premise storage solution aimed at addressing the challenges faced by enterprises managing unstructured data. CNO allows businesses to control their data while reducing costs associated with public cloud storage. The solution's cloud-native architecture supports a hybrid cloud strategy, enhancing reliability and scalability. This offering is designed to target sectors such as media, video surveillance, backups, and file services, providing enhanced control and predictable pricing.
Sanmina (SANM) has partnered with Reliance Strategic Business Ventures Limited to form a joint venture aimed at creating a high-tech electronic manufacturing hub in India. RSBVL will hold a 50.1% stake through a ₹1,670 crore investment, while Sanmina retains 49.9%. The joint venture is positioned to enhance manufacturing capabilities in sectors like communications, healthcare, and defense. With revenues of ₹12.3 billion for the fiscal year ending March 2021, the collaboration will be supported by over $200 million in capital. Completion is expected by September 2022, subject to regulatory approvals.
Sanmina Corporation (NASDAQ: SANM) reported strong financial results for Q1 FY2022, achieving revenue of $1.76 billion and a GAAP diluted EPS of $0.89. The company also posted a GAAP operating margin of 4.6% and a non-GAAP diluted EPS of $1.08. Cash flow from operations reached $68 million with free cash flow at $51 million. Despite ongoing supply chain challenges, Sanmina sees optimistic growth potential for FY2022, driven by demand in industrial, medical, defense, and automotive sectors.
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