Sanmina Authorizes Repurchase of Up to 5 Percent of Company's Shares Outstanding
SAN JOSE, Calif., Sept. 17 /PRNewswire/ -- Sanmina Corporation (Nasdaq: SANM), a leading electronics contract manufacturer, announced today that its board of directors has authorized the repurchase of up to 5% of its total outstanding common shares. "Management and the board of directors believe the stock repurchase plan is a good investment and is in the best interest of our shareholders," said Jure Sola, Sanmina's chairman and chief executive officer. "The long-term fundamentals of the manufacturing services industry are intact and we are confident of our growth prospects due to our leading-edge technology, financial strength and full service manufacturing capabilities." Repurchases may be made from time-to-time, in the open market, through block trades or otherwise. Company Profile Founded in 1980, Sanmina Corporation (www.sanmina.com) provides a cost-efficient, design and manufacturing solution to the world's leading original equipment manufacturing (OEMs) in the communications, medical, industrial instrumentation, and high-end computer sectors. Sanmina's complete end-to-end solution includes design, engineering, circuit fabrication or bare printed circuit boards, circuit board and backplane order fulfillment, and end-of-life product services. OEMs benefit from this model by dealing with a single-source supply-chain and global supply-base, which helps them achieve cost efficiencies in material acquisition as well as flexibility to reduce lead times. Safe Harbor Statement The foregoing, including the discussion regarding the company's future prospects contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with economic conditions in the electronics industry, particularly in the principal industry sectors served by the company, changes in customer requirements and in the volume of sales to principle customers, the ability of the company to assimilate acquired business and to achieve the anticipated benefits of such acquisitions, and competition and technological change. The company's actual results of operations may differ significantly than those contemplated by such forward-looking statements as a result of these and other factors, including factors set forth in the company's 2000 Annual Report on Form 10-K filed with the Securities Exchange Commission on December 18, 2000, and the company's most recent quarterly 10-Q Report dated August 10, 2001. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X14864735
SOURCE Sanmina Corporation
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