Plexus (PLXS) Q2 Earnings Miss Estimates, Revenues Beat
Zacks Investment Research | Apr 25, 2018 09:54PM ET
Plexus Corp (NASDAQ:PLXS) reported fiscal second-quarter 2018 adjusted earnings of 74 cents per share, which missed the Zacks Consensus Estimate by a penny and declined 11.9% year over year.
Revenues of $698.7 million however surpassed the consensus mark of $690.8 million and increased 15.6% on a year-over-year basis.
Healthcare/Life Sciences revenues (35%) were up nearly 21% from the year-ago quarter to $248 million.
Industrial/Commercial revenues (35%) were up 26% year over year to $242 million.
Defense/Security/Aerospace segment revenues (16%) grew 11% on a year-over-year basis to $110 million.
Revenues from the Communications sector (14% of total revenue) however fell 8.3% year over year to $99 million.
Region-wise, revenues from the Americas increased 11% from the year-ago quarter to $302 million. Revenues from the Asia Pacific region rose 12.9% to $350 million on a year-over-year basis. Revenues from Europe, the Middle East and Africa, which totaled $74 million, grew 68.2% year over year.
Plexus won 41 new manufacturing programs worth approximately $255 million (highest quarterly win) in the quarter. It added over $847 million in revenues in the trailing four quarters from new wins.
The 10 customers of the company together accounted for about 58% of net revenues in the quarter.
Plexus Corp. Price, Consensus and EPS Surprise
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