Plexus Reports 11% Y/Y Revenue Growth

Plexus announced financial results for its fiscal first quarter ended January 4, 2020, and guidance for its fiscal second-quarter ending April 4, 2020, after the closing bell.

Fiscal First Quarter 2020 Information

• Won 30 manufacturing programs during the quarter, representing $167 million in annualized revenue when fully ramped into production
• Trailing four-quarter wins total $843 million in annualized revenue when fully ramped into production
• Purchased $6.3 million of our shares at an average price of $69.82 per share under our existing share repurchase program

I am pleased with our strong performance in the fiscal first quarter, during which we delivered record quarterly revenue of $852 million and adjusted diluted EPS of $1.00, each result exceeding the high end of our expectations entering the quarter.  This revenue represents 11% growth over the comparable period in fiscal 2019 and 5% growth sequentially. 

Our Healthcare/Life Sciences sector exceeded our expectations coming into the quarter as our team responded to increased demand from several of our customers.  The Industrial/Commercial sector was exceptionally strong as we capitalized on further strengthening in the semiconductor capital equipment sub-sector.  Our global teams continue to prioritize operational excellence, and through that focus delivered fiscal first quarter operating margin of 4.7%.”  – Todd Kelsey, President and CEO