On Jan. 25, 2007, integrated electronics manufacturer Sanmina-SCI (NASDAQ:SANM) released first-quarter earnings for the period ended Dec. 30, 2006.

  • Reduced demand cut revenues roughly 3%.
  • Lower operating expenses helped boost the bottom line by 62.4%.
  • Management's focus on product mix and efficiency helped grow margins across the board.
  • Sanmina-SCI is only a one-star stock in Motley Fool CAPS, our interactive stock database.

(Figures in millions, except per-share data)

Income Statement Highlights

Q1 2007

Q1 2006

Change

Sales

$2,778.8

$2,861.8

(2.9%)

Net Profit

$28.2

$17.4

62.4%

EPS

$0.05

$0.03

66.7%

Diluted Shares

528.3

524.7

0.7%



Get back to basics with a look at the income statement.

Margin Checkup

Q1 2007

Q1 2006

Change*

Gross Margin

6.1%

5.9%

0.2

Operating Margin

2.1%

1.1%

1.0

Net Margin

1.0%

0.6%

0.4

*Expressed in percentage points

Margins are the earnings engine. See how they work.

Balance Sheet Highlights

Assets

Q1 2007

Q1 2006

Change

Cash + ST Invest.

$538.8

$1,039.3

(48.2%)

Accounts Rec.

$1,558.1

$1,612.3

(3.4%)

Inventory

$1,328.1

$1,122.8

18.3%



Liabilities

Q1 2007

Q1 2006

Change

Accounts Payable

$1,481.7

$1,636.4

(9.5%)

Long-Term Debt

$1,582.5

$1,635.8

(3.3)%



Learn the ways of the balance sheet.

Cash Flow Highlights

Sanmina-SCI must have a few missing circuits, because it forgot to include a cash flow statement in the press release.

Find out why Fools always follow the money.

Related Companies:

  • Celestica (NYSE:CLS)
  • Solectron (NYSE:SLR)
  • Flextronics (NASDAQ:FLEX)
  • Jabil Circuit (NYSE:JBL)

Related Foolishness:

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