Sanmina Corporation reported a net sales increase of 7.4% for the fiscal year ending September 27, 2025, reaching $8.13 billion, compared to $7.57 billion in the previous year. The company's gross profit also rose to $716.4 million, resulting in a gross margin of 8.8%, up from 8.5% in 2024. However, operating income remained stable at $354.6 million, with an operating margin of 4.4%, unchanged from the prior year. Net income attributable to common shareholders was $245.9 million, reflecting a 10.5% increase from $222.5 million in 2024.
The company experienced notable changes in its revenue streams, particularly in the communications networks and cloud infrastructure sector, which saw a 17.1% increase to $3.1 billion, driven by new program wins and ramp-ups. Conversely, the industrial, medical, defense, and aerospace sectors reported a modest increase of 2.2% to $5.02 billion. Sanmina's Integrated Manufacturing Solutions (IMS) segment accounted for approximately 80% of total revenue, while the Components, Products, and Services (CPS) segment contributed the remaining 20%.
Strategically, Sanmina completed the acquisition of ZT Systems, a data center infrastructure manufacturing business, for $1.6 billion in October 2025. This acquisition is expected to enhance Sanmina's capabilities in the cloud and AI sectors. The company incurred $34 million in acquisition and integration charges during the fiscal year, primarily related to this transaction. Additionally, Sanmina's workforce remained stable at approximately 39,000 employees, with a focus on maintaining a diverse and inclusive workplace.
Operationally, Sanmina's cash and cash equivalents increased to $926.3 million, up from $625.9 million in the previous year. The company reported a significant rise in deferred revenue and customer advances, which reached $878.5 million, indicating strong customer demand and prepayments for inventory. Looking ahead, Sanmina anticipates continued growth driven by its strategic focus on high-value markets and the successful integration of ZT Systems, despite potential challenges from macroeconomic factors such as inflation and supply chain constraints.
About SANMINA CORP
Sanmina Corporation is a global provider of integrated electronics manufacturing solutions, offering product design, engineering, component manufacturing, high-level assembly, testing, logistics, and after-market services. Serving industries such as medical, defense, aerospace, automotive, and communications, it supports OEMs with end-to-end supply chain management. Its core value lies in advanced technology, vertical integration, and global manufacturing capabilities that enable high-value, mission-critical product production.
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