Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)

Three Months Ended

Dec. 27,

Dec. 28,

2014

2013

Net sales

$    1,671,162

$    1,447,498

Cost of sales

1,544,816

1,336,713

Gross profit

126,346

110,785

Operating expenses:

Selling, general and administrative

59,418

59,182

Research and development

8,069

7,905

Amortization of intangible assets

425

474

Restructuring costs 

3,000

3,704

Asset impairments

1,954

-

     Total operating expenses

72,866

71,265

Operating income

53,480

39,520

Interest income

289

806

Interest expense 

(6,437)

(7,473)

Other income (expense), net

(1,528)

878

Interest and other, net

(7,676)

(5,789)

Income before income taxes

45,804

33,731

Provision for income taxes 

23,148

10,630

Net income

$         22,656

$         23,101

Basic income per share

$             0.27

$             0.28

Diluted income per share

$             0.26

$             0.26

Weighted-average shares used in computing 

per share amounts:

  Basic

82,548

83,766

  Diluted

86,682

87,259