Sanmina Reports First Quarter Fiscal 2015 Results

 

Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)








Three Months Ended



Dec. 27,


Dec. 28,



2014


2013






Net sales

$    1,671,162


$    1,447,498

Cost of sales

1,544,816


1,336,713


Gross profit

126,346


110,785






Operating expenses:





Selling, general and administrative

59,418


59,182


Research and development

8,069


7,905


Amortization of intangible assets

425


474


Restructuring costs 

3,000


3,704


Asset impairments

1,954


-


     Total operating expenses

72,866


71,265






Operating income

53,480


39,520







Interest income

289


806


Interest expense 

(6,437)


(7,473)


Other income (expense), net

(1,528)


878

Interest and other, net

(7,676)


(5,789)






Income before income taxes

45,804


33,731






Provision for income taxes 

23,148


10,630






Net income

$         22,656


$         23,101












Basic income per share

$             0.27


$             0.28


Diluted income per share

$             0.26


$             0.26







Weighted-average shares used in computing 





per share amounts:





  Basic

82,548


83,766


  Diluted

86,682


87,259


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