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Plexus Provides Financial Update Due to COVID-19 Restrictions in Malaysia
May 27, 2021 | Plexus Corp.Estimated reading time: 1 minute
Plexus announced that the Malaysian government mandated a two-week workforce curtailment for all manufacturers in the region. The actions instituted by the Malaysian government as it combats a continued rise in COVID-19 infections will impact the Company’s operations in the region. The Company is still determining the potential financial impact of this fluid situation and the effects on Plexus as well as potential impacts on Plexus’ customers, suppliers and other partners. However, the Company currently anticipates that it will be unable to meet its fiscal third quarter revenue guidance of $875 to $915 million and GAAP diluted EPS guidance of $1.23 to $1.38 issued on April 21, 2021. The Company expects to provide additional updates during a live webcast as part of a fireside chat on Tuesday, June 8, 2021 at Stifel’s 2021 Virtual Cross Sector Insight Conference.
Todd Kelsey, President and CEO, commented, “Our focus remains on ensuring our locations are the safest place for our team members outside of their homes. Although the workforce curtailments in Malaysia will negatively affect our fiscal third quarter results, we anticipate the demand will push into future quarters. In addition, we remain optimistic regarding our fiscal 2022 outlook and our ability to achieve 9-12% annual revenue growth over the long term while continuing to deliver industry leading operating performance. As the overall demand environment continues to strengthen, we are also benefiting from our support of secular growth markets including robotic assisted surgery, industrial and warehouse automation and commercial space as well as robust new program win activity.”
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04/19/2024 | Marcy LaRont, PCB007 MagazineFor my must-read picks of the week, I’m highlighting Parker Capers, a young professional seeking employment, solid counsel from Dan Beaulieu on what your post-show plan should look like, more information and insight on “chiplets” and the need for secure data transfer standards from columnist Preeya Kuray, as well as Matt Stevenson’s design for reality wisdom. It’s a reminder to download one of our newest books (there are several) you don't want to miss if you are an assembler.
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ZESTRON Welcomes Whitlock Associates as New Addition to their Existing Rep Team in Florida
04/19/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, is thrilled to announce the addition of Whitlock Associates to its esteemed network of sales representatives.
SEMI Applauds U.S. Chips Act Award for Samsung Electronics Facilities to Strengthen Domestic Semiconductor Supply Chain
04/17/2024 | SEMISEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the United States Department of Commerce’s announcement of a Preliminary Memorandum of Terms for an award under the CHIPS and Science Act to support the expansion of Samsung Electronics’ presence in Texas and the company’s development and production of leading-edge chips.
Ark Electronics Expands Global Manufacturing Factory Network in North America and Europe
04/17/2024 | PRNewswireElectronic Manufacturing Company Ark Electronics recently announced the expansion of its Global Factory Network with the addition of Electronics Manufacturing Service (EMS) capabilities in Mexico and Europe.