Sanmina-SCI Corp. reported unaudited consolidated financial results for the first quarter ended December 29, 2012. For the quarter, the company's net sales were $1,494,945,000 compared to $1,502,366,000 a year ago. Operating income was $31,462,000 compared to $39,688,000 a year ago. Income before income taxes was $3,654,000 compared to $16,591,000 a year ago. Net income was $621,000 compared to $8,575,000 a year ago. Basic and diluted net income per share was $0.01 compared to diluted net income per share of $0.10 a year ago. Non-GAAP operating income was $41,422,000 compared to $49,919,000 a year ago. Non-GAAP net income was $24,239,000 compared to $22,799,000 a year ago. Diluted net income per share was $0.29 compared to basic and diluted net income per share of $0.28 a year ago. Cash flow from operations was $97.1 million. First quarter revenue and EPS were below expectations due to weak demand across most of its market segments. Property, plant and equipment were down $6 million for the quarter. Net capital expenditures for the quarter were $19 million.

For the second quarter ending March 30, 2013, the company expects revenue to be in the range of $1.40 billion to $1.45 billion, non-GAAP diluted earnings per share to be in the range of $0.26 to $0.32. The company expects that gross margin will be in the range of 7% to 7.4%. Operating expense should be $62 million to $63 million. The company expects the tax rate to remain in the range of 14% to 16%. Capital expenditures will be around $20 million to $25 million, while depreciation and amortization will be around $25 million as well.