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Last $43.20 USD
Change Today -0.39 / -0.89%
Volume 237.4K
PLXS On Other Exchanges
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As of 8:10 PM 07/6/15 All times are local (Market data is delayed by at least 15 minutes).

plexus corp (PLXS) Key Developments

Plexus Corp. Amends and Restates its Bylaws

On May 21, 2015, the Board of Directors of Plexus Corp. amended and restated the company's Bylaws primarily to remove provisions related to the eligibility for continued service of directors elected prior to the company's 1997 Annual Meeting because such provisions no longer apply; to explicitly provide that the officers of the company may include a chief operating officer and a chief financial officer, and to include descriptions of such positions; and to allow the Chairman of the Board, if one is appointed, to be an executive officer or a non-executive officer position.

Plexus Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and First Six Months Ended April 4, 2015; Provides Earnings Guidance for the Third Quarter of Fiscal 2015 and for the Fiscal Year of 2015

Plexus Corp. announced unaudited consolidated earnings results for the second quarter and first six months ended April 4, 2015. For the quarter, the company announced net sales of $651,285,000 compared to $557,616,000 for the same period a year ago. Operating profit was $29,452,000 compared to $19,000,000 for the same period a year ago. Income before income taxes was $26,797,000 compared to $17,272,000 for the same period a year ago. Net income was $23,594,000 or $0.69 per diluted share compared to $18,516,000 or $0.53 per diluted share for the same period a year ago. Operating profit, as adjusted was $29,452,000 compared to $25,045,000 for the same period a year ago. Net income, as adjusted was $23,594,000 compared to $20,831,000 for the same period a year ago. Diluted earnings per share, as adjusted were $0.69 compared to $0.60 for the same period a year ago. For the three months ended April 4, 2015, cash flow provided by operations was approximately $131 million and capital expenditures were approximately $7 million, resulting in positive free cash flow of approximately $124 million. For the six months, the company announced net sales of $1,315,975,000 compared to $1,091,521,000 for the same period a year ago. Operating profit was $58,234,000 compared to $40,761,000 for the same period a year ago. Income before income taxes was $52,838,000 compared to $37,098,000 for the same period a year ago. Net income was $46,673,000 or $1.36 per diluted share compared to $36,179,000 or $1.04 per diluted share for the same period a year ago. Operating profit, as adjusted was $59,925,000 compared to $50,411,000 for the same period a year ago. The company provided earnings guidance for the third quarter of fiscal 2015. For the third quarter of 2015, the company expects its revenue between $670 million and $700 million suggests a 5% sequential increase at the midpoint of the range. The company is are guiding diluted EPS in the range of $0.71 to $0.79, reflecting a 9% sequential improvement at the midpoint. Gross margin is expected to be in the range of 9.0% to 9.3% comparable to the fiscal second quarter 2015. Depreciation and amortization expense is expected to be approximately $12.4 million in the fiscal third quarter, up slightly from the $11.9 million in the fiscal second quarter. The company is estimating a tax rate of 9% to 11% for both the fiscal third quarter and full year. Cash flow in the range of $70 million to $90 million for fiscal 2015. The company continues to forecast capital spending at approximately $50 million for fiscal 2015. The majority of this capital is for equipment to support new capabilities, new program ramps and the refresh of older equipment. Full year revenue expected to a range of 13% to 14.5%. In support of higher revenue expectations for the year, the company adjusting free cash flow guidance to a healthy but more conservative range of $70 million to $90 million.

Plexus Corp. to Report Q2, 2015 Results on Apr 22, 2015

Plexus Corp. announced that they will report Q2, 2015 results After-Market on Apr 22, 2015

Plexus Corp., Q2 2015 Earnings Call, Apr 23, 2015

Plexus Corp., Q2 2015 Earnings Call, Apr 23, 2015

Plexus Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended January 3, 2015; Provides Earnings Guidance for the Second Quarter of 2015 and Provides Capital Expenditure Guidance for the Full Year 2015

Plexus Corp. reported unaudited consolidated earnings results for the first quarter ended January 3, 2015. For the quarter, the company reported net sales of $664.690 million compared to $533.905 million a year ago. Income before income taxes was $26.041 million compared to $19.825 million a year ago. Net income was $23.079 million or $0.67 per diluted share, compared to $17.633 million or $0.51 per diluted share, a year ago. Non-GAAP net income, before special items was $24.770 million or $0.72 per diluted share against $21.268 million or $0.61 per diluted share a year ago. Operating profit, as adjusted was $30.474 million compared to $25.366 million a year ago. Cash flow used in operations was $90.3 million for the quarter. Capital expenditures for the quarter were $9.6 million. Free cash flow for the quarter was negative at $99.9 million. Operating profit was $28,783,000 against $21,761,000 a year ago. For the second quarter of 2015, the company expects revenue in the range of $630 to $660 million and diluted EPS in the range of $0.64 to $0.72 including $0.10 per share of stock-based compensation expense but excluding any unanticipated special items. Gross margin is expected to be in the range of 9.0% to 9.3%, comparable to the fiscal first quarter of 2015. Gross margin guidance includes the impact of merit increases implemented at the beginning of the calendar year and the reset of payroll taxes for U.S. employees. Depreciation and amortization expense is expected to be approximately $12.6 million in the fiscal second quarter. The company estimating a tax rate for the fiscal second quarter of 10% to 12% The company announced that tax rate for the full fiscal year 2015 of 9% to 11%. Currently forecasting between $80 million to $100 million in free cash flow for fiscal 2015. The company continue to forecast capital spending at approximately $50 million for fiscal 2015. The majority of this capital is for equipment to support new capabilities, new program ramps and the refresh of older equipment.

 

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