Sanmina, listed on the NASDAQ Global Select Market under the ticker SANM, specializes in printed circuit board manufacturing and other related services. The company is incorporated in Delaware and operates with its headquarters in San Jose, California.
With a current ratio of 1.99, the company maintains strong liquidity to meet its short-term obligations.The information in this article is based on a press release statement from the company, as disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on November 29, 2024. The filing details the planned retirement of a key financial officer and the appointment of his successor, reflecting the company's commitment to maintaining a strong leadership structure.
With a current ratio of 1.99, the company maintains strong liquidity to meet its short-term obligations.The information in this article is based on a press release statement from the company, as disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on November 29, 2024. The filing details the planned retirement of a key financial officer and the appointment of his successor, reflecting the company's commitment to maintaining a strong leadership structure.
Sanmina's choice of Venkatesh for the significant role of Global Controller and Chief Accounting Officer indicates the company's confidence in his abilities to oversee its financial operations and uphold the company's fiscal responsibilities. For a comprehensive analysis of Sanmina's financial health and future prospects, investors can access detailed metrics and expert insights through InvestingPro's extensive research reports.
Sanmina, listed on the NASDAQ Global Select Market under the ticker SANM, specializes in printed circuit board manufacturing and other related services. The company is incorporated in Delaware and operates with its headquarters in San Jose, California.
The information in this article is based on a press release statement from the company, as disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on November 29, 2024. The filing details the planned retirement of a key financial officer and the appointment of his successor, reflecting the company's commitment to maintaining a strong leadership structure.
Sanmina's choice of Venkatesh for the significant role of Global Controller and Chief Accounting Officer indicates the company's confidence in his abilities to oversee its financial operations and uphold the company's fiscal responsibilities.
In other recent news, Sanmina Corporation outperformed Q4 forecasts with revenue reaching $2.02 billion, exceeding the expected $1.9 billion to $2.0 billion range.
The company's non-GAAP earnings per share (EPS) also surpassed projections at $1.43, compared to the anticipated $1.30 to $1.40. These developments showcase Sanmina's robust financial health as it closed the fiscal year with $626 million in cash and cash equivalents and no outstanding debt.
Looking ahead, Sanmina anticipates high-single-digit revenue growth in fiscal 2025, driven by diversified markets and new programs. The company is also focusing on margin expansion, aiming for operating margins of 5% to 6% in the short term.
In the past year, Sanmina's partnership with Reliance Industries (NS:RELI) in India has been progressing well, with Sanmina managing operations and Reliance holding a majority stake. This joint venture aims to capitalize on growth opportunities in India as it becomes a major exporter of high-tech products.
Sanmina has also been investing in AI to enhance manufacturing efficiency and supply chain operations, demonstrating its commitment to innovation. While there was a decline in the cloud segment's revenue, management maintains a positive outlook for the sector's recovery. These are among the recent developments that reflect Sanmina's strategic approach to business and growth
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