Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)

Three Months Ended

Six Months Ended

March 28,

March 29,

March 28,

March 29,

2015

2014

2015

2014

Net sales

$ 1,527,530

$ 1,476,712

$ 3,198,692

$ 2,924,210

Cost of sales

1,412,267

1,357,745

2,957,083

2,694,458

Gross profit

115,263

118,967

241,609

229,752

Operating expenses:

Selling, general and administrative

57,023

62,332

116,441

121,514

Research and development

7,559

8,829

15,628

16,734

Amortization of intangible assets

425

474

850

948

Restructuring costs 

1,740

2,565

4,740

6,269

Asset impairments

-

-

1,954

-

Gain on sales of long-lived assets

(1,136)

(530)

(1,136)

(530)

     Total operating expenses

65,611

73,670

138,477

144,935

Operating income

49,652

45,297

103,132

84,817

Interest income

265

174

554

980

Interest expense 

(6,197)

(7,482)

(12,634)

(14,955)

Other income (expense), net

(365)

626

(1,893)

1,504

Interest and other, net

(6,297)

(6,682)

(13,973)

(12,471)

Income before income taxes

43,355

38,615

89,159

72,346

Provision for income taxes 

28,607

17,775

51,755

28,405

Net income

$      14,748

$      20,840

$      37,404

$      43,941

Basic income per share

$          0.18

$          0.25

$          0.45

$          0.53

Diluted income per share

$          0.17

$          0.24

$          0.43

$          0.51

Weighted-average shares used in computing 

per share amounts:

  Basic

82,977

82,728

82,762

83,247

  Diluted

86,897

86,144

86,797

86,723