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Sanmina-SCI Corporation (Nasdaq NM: SANM, "the Company"), a leading global electronics manufacturing services (EMS) company, today reported revenue for its third quarter ended July 1, 2006 of $2.71 billion, up from $2.67 billion in the second quarter of fiscal 2006. Revenue in the third quarter of fiscal 2005 was $2.83 billion. As previously announced, the Company's Board of Directors formed an independent special committee of the Board to review certain matters concerning the Company's stock option administration policies and practices dating back to January 1, 1997. The special committee of the Board is currently working with independent outside legal counsel and is in the process of conducting its investigation and analysis of the Company's stock option activity. Until the investigation is complete, the Company is not providing detailed GAAP or Non-GAAP financial information for the quarter ended July 1, 2006 and will not be in a position to announce additional financial results for the third quarter until the special committee has completed its investigation. Further, as a result of this investigation, the Company may not be able to file its 10-Q within the deadlines prescribed by the SEC. In the case of a delay in the Company's filing, the Company will notify its stockholders in a press release.
"Sanmina-SCI is fully cooperating with the requests of the independent special committee to investigate the company's stock option activity dating back to January 1, 1997. We are focused on appropriately resolving these issues as quickly as possible, and providing complete transparency of our results as soon as available," stated Sanmina-SCI's CEO and Chairman, Jure Sola.
Company Revenue Outlook
Sanmina-SCI expects fourth quarter revenue to be in the range of $2.7 billion to $2.8 billion.
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