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Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2016 Financial Results

Fiscal fourth quarter 2016 revenue of $653 million
GAAP diluted EPS of $0.56; non-GAAP adjusted diluted EPS of $0.82, excluding $0.26 per share of special items
Initiates fiscal first quarter 2017 revenue guidance of $620 to $650 million with GAAP diluted EPS of $0.74 to $0.82

NEENAH, WI – October 26, 2016 - Plexus (NASDAQ: PLXS) today announced financial results for its fiscal
fourth quarter ended October 1, 2016, and guidance for its fiscal first quarter ending December 31, 2016.

 
 
Three Months Ended
 
 
Oct 1, 2016
 
Oct 1, 2016
 
Dec 31, 2016
 
 
Q4F16 Results
 
Q4F16 Guidance
 
Q1F17 Guidance
Summary GAAP Items
 
 
 
 
 
Revenue (in millions)

$653

 
$655 to $685
 
$620 to $650
Operating margin
3.6
%
 
 
 
4.9% to 5.2%
Diluted EPS (1)

$0.56

 
 
 
$0.74 to $0.82
 
 
 
 
 
 
 
Summary Non-GAAP Items (2)
 
 
 
 
 
Adjusted operating margin
5.1
%
 
4.8% to 5.1%
 
 
Adjusted diluted EPS

$0.82

 
$0.76 to $0.84
 
 
Return on invested capital (ROIC)
13.8
%
 
 
 
 
Economic Return
2.8
%
 
 
 
 
 
 
 
 
 
 
 
(1)
Includes stock-based compensation expense of $0.25 for Q4F16 results and $0.11 for Q1F17 guidance.
(2)
Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for non-GAAP financial measures discussed in this release, such as adjusted operating margin, adjusted diluted EPS, and free cash flow, and a reconciliation of these measures to GAAP. Adjusted operating margin and adjusted diluted EPS exclude special items of $9.9 million for the three months ended October 1, 2016, related to accelerated stock-based compensation expense, typhoon-related losses, and restructuring and other charges.

Fiscal Fourth Quarter 2016 Information
Won 37 programs during the quarter representing approximately $200 million in annualized revenue when fully ramped into production
Trailing four quarter wins total approximately $747 million in annualized revenue
Purchased $7.1 million of our shares at an average price of $45.81 per share

Fiscal Year 2016 Information
Revenue: $2.6 billion, down 3.7% from prior year
Diluted EPS: $2.24, including $0.57 per share of stock-based compensation expense
ROIC: 13.8%, 280 basis points above our weighted average cost of capital
Purchased $30 million of our shares at an average price of $39.43 per share



The following information was filed by Plexus Corp (PLXS) on Wednesday, October 26, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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