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 concerning growth in fiscal 2015, 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 adverse changes to the key markets we target; credit problems experienced by our customers; risks arising from our international operations; competition that could cause us to lose sales; consolidation among our customers and suppliers that could adversely affect our business; 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.

Condensed Consolidated Balance Sheets

(in thousands)

(GAAP)




September 27,


September 28,




2014


2013




(Unaudited)



ASSETS










Current assets:





Cash and cash equivalents

$     466,607


$    402,875


Accounts receivable, net

979,475


944,816


Inventories

893,178


781,560


Prepaid expenses and other current assets

111,714


75,337



Total current assets

2,450,974


2,204,588







Property, plant and equipment, net

563,016


540,151

Other


299,099


251,109



Total assets

$  3,313,089


$ 2,995,848







LIABILITIES AND STOCKHOLDERS' EQUITY










Current liabilities:





Accounts payable

$  1,139,845


$    956,488


Accrued liabilities 

110,357


109,363


Accrued payroll and related benefits

126,541


118,572


Short-term debt

157,394


22,301



Total current liabilities

1,534,137


1,206,724







Long-term liabilities:





Long-term debt

386,681


562,512


Other

145,516


135,048



Total long-term liabilities

532,197


697,560







Stockholders' equity

1,246,755


1,091,564



Total liabilities and stockholders' equity

$  3,313,089


$ 2,995,848


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