Sanmina Corporation announced unaudited consolidated financial results for the first quarter ended December 28, 2013. For the quarter, the company reported net sales of $1,447.498 million against $1,494.945 million a year ago. Operating income was $39.520 million against $31.462 million a year ago. Income before income taxes was $33.731 million against $3.654 million a year ago. Net income was $23.101 million or $0.26 per diluted share against $0.621 million or $0.01 per diluted share a year ago. Non-GAAP operating income was $48.646 million against $41.422 million a year ago. Non-GAAP net income was $35.486 million or $0.41 per diluted share against $24.239 million or $0.29 per diluted share a year ago. Cash flow from operations for the quarter was $38 million and net capital expenditures for the quarter were $13 million.

The following forecast is for the second fiscal quarter ending March 29, 2014. Revenue is expected between $1.425 billion to $1.475 billion and non-GAAP diluted earnings per share is expected between $0.36 to $0.42. The company expects gross margin to be in the range of 7.6% to 8.0%. Operating expense to be $64 million to $66 million. The company expects other income and expense will be in the range of $7 million to $8 million. The company expects expect the tax rate to be 17.2%, plus or minus a percentage point. The company expects that capital expenditures will be around $20 million, while depreciation and amortization will be around $25 million.