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 Corp reports developments in integrated manufacturing solutions for original equipment manufacturers in the Electronics Manufacturing Services market. Company news commonly covers quarterly and annual results, earnings call schedules, margin and cash-flow commentary, capital allocation actions such as share repurchase authorizations, and demand trends across industrial and energy, medical, defense and aerospace, automotive and transportation, communications networks, and cloud and AI infrastructure markets.
Sanmina updates also include changes to its manufacturing footprint, customer and partner activity, and completed transactions that expand its service capabilities. The completed acquisition of the ZT Systems data center infrastructure manufacturing business added a recurring focus on cloud and AI infrastructure manufacturing alongside Sanmina's established printed circuit board assembly, components, interconnect, mechanical systems, and after-market services activities.
Sanmina Corporation (Nasdaq: SANM) announced enhancements to its backplane testing capabilities through the integration of RoBAT RCI technology at its California and Mexico facilities. This upgrade aims to accelerate time-to-market for customers in communications, datacenter, defense, and aerospace sectors. With over 40 years of experience, Sanmina continues to focus on product development in advanced backplane assembly and testing. The new technology complements their existing testing solutions, reinforcing the company's leadership in the electronics manufacturing services (EMS) market.
Sanmina Corporation (NASDAQ: SANM) announced the immediate departure of its CEO Hartmut Liebel, with co-founder Jure Sola resuming the roles of Chairman and CEO. The company aims to enhance shareholder value by reorganizing into three segments: Integrated Manufacturing Solutions, SCI, and Components Technology. Despite the ongoing challenges posed by the COVID-19 pandemic, Sola expressed confidence in the company’s ability to drive long-term growth. The firm has not updated its outlook for the fiscal fourth quarter ending October 3, 2020, as previously stated on July 29, 2020.
Sanmina Corporation (NASDAQ: SANM) reported a 4% revenue growth in Q3 FY20, reaching $1.65 billion, despite ongoing COVID-19 challenges. Their net income rose to $44.88 million with a diluted EPS of $0.64. Non-GAAP operating income was $75.83 million, improving the operating margin to 4.6%. The company ended the quarter with $1.1 billion in cash and cash equivalents, including $650 million in borrowings. Sanmina also repurchased 667,000 shares for $17.5 million. They anticipate additional revenue in the upcoming quarter.
Sanmina Corporation (NASDAQ: SANM) has scheduled its third quarter fiscal 2020 earnings conference call for Wednesday, July 29, 2020 at 5:00 PM ET. This call aims to provide insights into the company's financial performance and future outlook. Interested parties can connect through designated dial-in numbers: 866.891.4420 for domestic and 201.383.2868 for international. More information can be found on their official website.