Sanmina (SANM) FY2013 results: revenue $5.9 billion, down 2.9% on the year
Sanmina Corp. (SANM) reported revenue of $5.9 billion for fiscal 2013, the year ended 28 September 2013, down 2.9% on the year before. Net income was $79 million, down 56.0%, and diluted earnings per share $0.93. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2013.
Revenue
$5.9 billion
-2.9% on the year
FY2009FY2013
Operating margin
2.7%
2.3% a year earlier
FY2009FY2013
Net income
$79 million
-56.0% on the year
FY2009FY2013
Diluted EPS
$0.93
-56.9% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
5,917
6,093
6,602
-2.9%
Cost of revenue
5,490
5,658
6,092
-3.0%
Gross profit
427
436
510
-2.1%
Gross margin
7.2%
7.2%
7.7%
Research and development
25.6
21.9
20.8
+16.8%
Selling, general and administrative
238
241
247
-1.2%
Operating income
158
137
212
+14.6%
Operating margin
2.7%
2.3%
3.2%
Interest expense
41.0
71.7
99.1
-42.8%
Pre-tax income
103
49.9
99.5
+107.0%
Income tax
24.1
-130
30.6
Effective tax rate
23.3%
-260.9%
30.8%
Net income
79.4
180
68.9
-56.0%
Net margin
1.3%
3.0%
1.0%
Diluted EPS
$0.93
$2.16
$0.83
-56.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
318
215
235
+47.6%
Capital expenditure
76.0
78.6
108
-3.4%
Free cash flow
242
137
127
+76.9%
Free cash flow margin
4.1%
2.2%
1.9%
Cash from investing
n/a
-78.0
-98.1
Cash from financing
n/a
-367
-89.0
Depreciation and amortisation
96.0
99.5
105
-3.5%
Share-based compensation
17.5
18.0
18.9
-2.6%
Buybacks
1.5
0.3
0.0
+400.0%
Diluted shares, weighted
85m
83m
83m
+2.3%
Shares outstanding at period end
84m
82m
81m
+3.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,092
964
771
+13.3%
Debt
585
897
1,243
-34.8%
Other liabilities
1,319
1,307
1,341
+1.0%
Total liabilities and equity
2,996
3,168
3,354
-5.4%
Fixed assets
540
569
588
-5.1%
Intangible assets
n/a
7.2
11.0
Cash and equivalents
403
410
640
-1.6%
Receivables
945
1,002
1,014
-5.7%
Inventory
782
827
891
-5.4%
Other assets
326
353
209
-7.6%
Total assets
2,996
3,168
3,354
-5.4%
10-K for the year ended 28 September 2013, filed 27 November 2013: the filing.