Sanmina-SCI Believes the Worst is Over

Sanmina-SCI Corporation has reported financial results for the fourth quarter and fiscal year ended October 3, 2009. Revenue for the fourth quarter was $1.35 billion, up 12 percent, compared to $1.21 billion in the prior quarter ended June 27, 2009. Revenue for the fiscal year ended October 3, 2009 was $5.18 billion, compared to $7.20 billion for the year ended September 27, 2008.

"I am pleased with Sanmina-SCI's progress despite a challenging economy and optimistic that the worst is now behind us. We delivered solid results for the quarter with 12 percent growth in revenue and 70 basis point improvement in gross margin over the prior quarter. We expect to further expand margins through our diversified end-markets, efficient manufacturing processes and increase in demand. Our new business strategy and lean cost structure offer distinct advantages to our customers that differentiate us from the competition and position us for future profitable growth," stated Jure Sola, Chairman and Chief Executive Officer.

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