Sanmina (SANM) FY2014 results: revenue $6.2 billion, up 5.0% on the year
Sanmina Corp. (SANM) reported revenue of $6.2 billion for fiscal 2014, the year ended 27 September 2014, up 5.0% on the year before. Net income was $197 million, up 148.5%, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2014.
Revenue
$6.2 billion
+5.0% on the year
FY2009FY2014
Operating margin
3.2%
2.7% a year earlier
FY2009FY2014
Net income
$197 million
+148.5% on the year
FY2009FY2014
Diluted EPS
$2.27
+144.1% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
6,215
5,917
6,093
+5.0%
Cost of revenue
5,727
5,490
5,658
+4.3%
Gross profit
488
427
436
+14.4%
Gross margin
7.9%
7.2%
7.2%
Research and development
32.5
25.6
21.9
+27.1%
Selling, general and administrative
242
238
241
+1.8%
Operating income
200
158
137
+26.7%
Operating margin
3.2%
2.7%
2.3%
Interest expense
30.8
41.0
71.7
-24.9%
Pre-tax income
162
103
49.9
+56.4%
Income tax
-35.4
24.1
-130
Effective tax rate
-21.9%
23.3%
-260.9%
Net income
197
79.4
180
+148.5%
Net margin
3.2%
1.3%
3.0%
Diluted EPS
$2.27
$0.93
$2.16
+144.1%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
307
318
215
-3.3%
Capital expenditure
69.5
76.0
78.6
-8.5%
Free cash flow
238
242
137
-1.7%
Free cash flow margin
3.8%
4.1%
2.2%
Cash from investing
n/a
n/a
-78.0
Cash from financing
n/a
n/a
-367
Depreciation and amortisation
97.7
96.0
99.5
+1.7%
Share-based compensation
18.8
17.5
18.0
+7.2%
Buybacks
76.2
1.5
0.3
+4,899.1%
Diluted shares, weighted
87m
85m
83m
+1.6%
Shares outstanding at period end
82m
84m
82m
-2.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,247
1,092
964
+14.2%
Debt
544
585
897
-7.0%
Other liabilities
1,522
1,319
1,307
+15.4%
Total liabilities and equity
3,313
2,996
3,168
+10.6%
Fixed assets
563
540
569
+4.2%
Goodwill
25.7
n/a
n/a
Intangible assets
11.4
n/a
7.2
Cash and equivalents
467
403
410
+15.8%
Receivables
979
945
1,002
+3.7%
Inventory
893
782
827
+14.3%
Other assets
374
326
353
+14.5%
Total assets
3,313
2,996
3,168
+10.6%
10-K for the year ended 27 September 2014, filed 13 November 2014: the filing.