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Sanmina-SCI Updates Second Quarter Revenue Guidance
April 9, 2007 | PRNewswireEstimated reading time: 1 minute
Sanmina-SCI Corporation, announced today that for its second quarter ended March 31, 2007 the Company expects to report revenue of approximately $2.6 billion compared to previously provided guidance of $2.65-$2.75 billion. The Company is not in a position to provide an update to earnings for the quarter ended March 31, 2007 at this time. However, with the decline in revenue, the Company expects non-GAAP earnings per share to be below its previously provided guidance. Full financial results will be provided during the Company's regularly scheduled earnings call on Tuesday, April 24, 2007.
"The second quarter has historically been a seasonally weak quarter for us, but we experienced even greater weakness in demand over the last two to three weeks. The majority of this softness was in the communications and high-end computing end-markets, while the rest of the markets delivered to our expectations. We believe this weakness will be short-term and that the business should improve in the second half of 2007," stated Jure Sola, Chairman and Chief Executive Officer. For the quarter ended March 31, 2007 the Company anticipates reporting a decrease in inventory of at least $90 million and an increase in cash and cash equivalent of at least $100 million.
The company will hold a conference call today, Monday, April 9, 2007 at 8:30 AM Eastern (5:30 AM Pacific) to provide an update.
The access numbers are: domestic 877-273-6760 and international: 706-634-6605. The conference will be broadcast live over the Internet by logging on to the live webcast at www.sanmina-sci.com. A replay of today's conference call will be available for 48-hours. The access numbers are: domestic 800-642-1687 and international: 706-645-9291, access code: 5064627.
About Sanmina-SCI
Sanmina-SCI Corporation is a leading electronics contract manufacturer serving the fastest-growing segments of the global electronics manufacturing services (EMS) market. Recognized as a technology leader, Sanmina-SCI provides end-to-end manufacturing solutions, delivering superior quality and support to large OEMs primarily in the communications, defense and aerospace, industrial and medical instrumentation, computer technology and multimedia sectors. Sanmina-SCI has facilities strategically located in key regions throughout the world. Information about Sanmina-SCI is available at www.sanmina-sci.com.