Sanmina Corporation

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(GAAP)

(Unaudited)

Three Months Ended

Nine Months Ended

June 27,

June 28,

June 27,

June 28,

2015

2014

2015

2014

Net sales

$ 1,539,271

$ 1,604,727

$ 4,737,963

$ 4,528,937

Cost of sales

1,418,709

1,477,814

4,375,792

4,172,272

Gross profit

120,562

126,913

362,171

356,665

Operating expenses:

Selling, general and administrative

59,736

63,029

176,177

184,543

Research and development

8,339

7,829

23,967

24,563

Amortization of intangible assets

314

425

1,164

1,373

Restructuring costs 

7,711

2,302

12,451

8,571

Asset impairments

-

-

1,954

-

Gain on sales of long-lived assets

(2,821)

-

(3,957)

(530)

     Total operating expenses

73,279

73,585

211,756

218,520

Operating income

47,283

53,328

150,415

138,145

Interest income

273

210

827

1,190

Interest expense 

(6,017)

(8,439)

(18,651)

(23,394)

Other expense, net

(1,248)

(6,101)

(3,141)

(4,597)

Interest and other, net

(6,992)

(14,330)

(20,965)

(26,801)

Income before income taxes

40,291

38,998

129,450

111,344

Provision for income taxes 

15,816

18,277

67,571

46,682

Net income

$      24,475

$      20,721

$      61,879

$      64,662

Basic income per share

$          0.30

$          0.25

$          0.75

$          0.78

Diluted income per share

$          0.29

$          0.24

$          0.72

$          0.75

Weighted-average shares used in computing  per share amounts:

  Basic

81,700

82,467

82,357

82,988

  Diluted

85,493

86,235

86,308

86,597