Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)

Three Months Ended

Nine Months Ended

June 28,

June 29,

June 28,

June 29,

2014

2013

2014

2013

Net sales

$

1,604,727

$

1,489,214

$

4,528,937

$

4,411,801

Cost of sales

1,477,814

1,374,963

4,172,272

4,100,318

     Gross profit

126,913

114,251

356,665

311,483

Operating expenses:

     Selling, general and administrative

63,029

62,120

184,543

180,942

     Research and development

7,829

6,761

24,563

18,176

     Amortization of intangible assets

425

474

1,373

1,422

     Restructuring and integration costs

2,302

9,391

8,571

20,263

     Asset impairments

-

-

-

1,100

     Gain on sales of long-lived assets

-

(176)

(530)

(23,361)

          Total operating expenses

73,585

78,570

218,520

198,542

Operating income

53,328

35,681

138,145

112,941

     Interest income

210

391

1,190

835

     Interest expense

(8,439)

(8,944)

(23,394)

(32,444)

     Other expense, net

(6,101)

(38)

(4,597)

(16,437)

Interest and other, net

(14,330)

(8,591)

(26,801)

(48,046)

Income before income taxes

38,998

27,090

111,344

64,895

Provision for income taxes 

18,277

8,352

46,682

24,345

Net income

$

20,721

$

18,738

$

64,662

$

40,550

     Basic income per share

$

0.25

$

0.23

$

0.78

$

0.49

     Diluted income per share

$

0.24

$

0.22

$

0.75

$

0.48

     Weighted-average shares used in computing

     per share amounts:

        Basic

82,467

83,082

82,988

82,515

        Diluted

86,235

85,602

86,597

84,819