Plexus Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2018; Provides Earnings Guidance for the Second Quarter Ending March 30, 2019 and Full Year of Fiscal 2019
January 16, 2019 at 04:40 pm EST
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Plexus Corp. reported unaudited consolidated earnings results for the first quarter ended December 29, 2018. For the period, the company's net sales were $765,544,000 compared to $677,294,000 a year ago. Operating income was $36,951,000 compared to $31,557,000 a year ago. Income before income taxes was $34,115,000 compared to $29,041,000 a year ago. Net income was $22,226,000 compared to loss of $98,493,000 a year ago. Basic earnings per share were $0.71 compared to basic loss per share of $2.93 a year ago. Diluted earnings per share were $0.69 compared to diluted loss per share of $2.93 a year ago.
For the second quarter ending March 30, 2019, the company expects revenue in the range of $760 million to $800 million. The company anticipates revenue at this level will lead to GAAP diluted EPS in the range of $0.80 to $0.90.
For the fiscal 2019, the company expects solid growth year in fiscal 2019. The company anticipates operating margin within its 4.7% to 5.0% target range for the fiscal year as the company mitigate the second quarter seasonal cost pressures through improved productivity. These factors, combined with the company's share repurchase program, are expected to result in EPS leverage in fiscal 2019.
Plexus Corp. is specialized in providing design and development, supply chain solutions, new product introduction, manufacturing, and sustaining services. The Company offers solutions to industrial, healthcare/life sciences and aerospace/defense market sectors by comprehensive solutions throughout the products lifecycle. Its segments include Americas (AMER), Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions. Its design and development services include user-centered design (UCD), mechanical engineering, electrical engineering, quality, and compliance engineering, project management, and software engineering. Its supply chain services include design for supply chain, supply chain risk management, actionable analytics, innovative sourcing, and others. Its new product introduction includes test engineering, rapid prototyping, and transition management. Its sustaining services include aftermarket services, product lifecycle extension, and distribution management.
Plexus Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 29, 2018; Provides Earnings Guidance for the Second Quarter Ending March 30, 2019 and Full Year of Fiscal 2019