Sanmina Corporation (NASDAQ:SANM) Q3 2017 Earnings Conference Call - Final Transcript

Jul 24, 2017 • 05:00 pm ET

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Sanmina Corporation (NASDAQ:SANM) Q3 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon. My name is Jesse and I'll be your conference operator today. At this time, I would like to welcome everyone to the Sanmina Corporation's Third Quarter Fiscal 2017 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Paige Bombino, Vice President of Investor Relations, you may begin your conference.

Executive
Paige Bombino

Thank you, Jesse. Good afternoon, ladies and gentlemen, and welcome to Sanmina's third quarter fiscal 2017 earnings call. A copy of today's release is available on our web-site in the Investor Relations section. You can follow along with our prepared remarks in the slides posted on our Website. Please turn to the Safe Harbor statement.

During this conference call, we may make projections or other forward-looking statements regarding future events or the future financial performance of the company. We caution you that such statements are just projections. The company's actual results of operation may differ significantly as a result of various factors, including adverse changes to the key markets we target, operational and other inefficiencies, risks arising from our international operations, competition that could cause us to lose sales, reliance on relatively small number of customers for a majority of our sales, and other factors set forth in the company's annual and quarterly reports filed with the Securities and Exchange Commission.

You'll note in our press release and slides issued today that we have provided you with statements of operations for three months and nine months ending July 1, 2017 on a GAAP basis as well as certain non-GAAP financial information. A reconciliation between the GAAP and non-GAAP financial information is also provided in the press release and slides posted on our Website.

In general, our non-GAAP information excludes restructuring costs, acquisition and integration costs, non-cash stock-based compensation expense, amortization expense, and certain other infrequent or unusual items to the extent material. Any comments we make on this call as they relates to the income statement measures will be directed at our non-GAAP financial results. Accordingly, unless otherwise stated in this conference call, when we refer to gross profit, gross margin, operating income, operating margin, taxes, net income and earnings per share, we are referring to our non-GAAP information.

I'd now like to turn the call over to Jure Sola, Chairman and Chief Executive Officer.

Executive
Jure Sola

Thanks, Paige. Good afternoon, ladies and gentlemen. Welcome. I'd like to take this opportunity to thank you all for being here with us today. With me on today's conference call is Bob Eulau, our current CFO and our future CEO.

Executive
Bob Eulau

Thanks, Jure, and hello everyone.

Executive
Jure Sola

I'm proud to say that Bob Eulau is going to be our future CEO effective October 2, 2017. I'm also very confident that Bob is the right leader for our Company. Bob will drive Sanmina's strategy and our culture, which is based on three principles. Number one, our customers, our people, where we have a great team and our shareholders. Again, Bob is