Sanmina Reports Fourth Quarter And Fiscal Year End Results

About Sanmina
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to OEMs primarily in the communications, defense and aerospace, industrial and semiconductor systems, medical, multimedia, computing and storage, automotive and clean technology sectors. Sanmina has facilities strategically located in key regions throughout the world. More information regarding the company is available at www.sanmina.com.

Sanmina Safe Harbor Statement
Certain statements contained in this press release, including the Company's outlook for the first quarter and its expectations regarding fiscal 2014, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, including changes to or a deterioration in the markets for the Company's customers' products; inability of customers to pay for the Company's products due to insolvency  or otherwise;  dependence on a relatively small number of customers; competition that could result in a reduction of revenues and margins; any failure of the Company's Components, Products and Services business to meet expectations;  component shortages, which could result in production delays or increases in manufacturing costs;  and the other factors set forth in the Company's annual and quarterly reports filed with the Securities Exchange Commission ("SEC").

The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.

 

Sanmina Corporation

Condensed Consolidated Balance Sheets

(In thousands)

(GAAP)







September 28,


September 29,







2013


2012
















(Unaudited)



ASSETS














Current assets:








Cash and cash equivalents



$    402,875


$    409,618


Accounts receivable, net



944,816


1,001,543


Inventories




781,560


826,539


Prepaid expenses and other current assets


75,337


88,599



Total current assets



2,204,588


2,326,299










Property, plant and equipment, net



540,151


569,365

Other





251,109


272,122



Total assets



$ 2,995,848


$ 3,167,786










LIABILITIES AND STOCKHOLDERS' EQUITY














Current liabilities:








Accounts payable



$    956,488


$    937,737


Accrued liabilities 



109,363


104,741


Accrued payroll and related benefits


118,572


117,074


Short-term debt



22,301


59,995



Total current liabilities



1,206,724


1,219,547










Long-term liabilities:






Long-term debt



562,512


837,364


Other




135,048


147,094



Total long-term liabilities


697,560


984,458










Stockholders' equity



1,091,564


963,781



Total liabilities and stockholders' equity


$ 2,995,848


$ 3,167,786


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