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Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2019 Financial Results
Record fiscal fourth quarter revenue of $810 million and record fiscal 2019 revenue of $3.2 billion
Fiscal fourth quarter GAAP diluted EPS of $1.23, including $0.19 of stock-based compensation expense
Non-GAAP adjusted diluted EPS of $0.93, excluding a non-cash benefit of $0.35 per share related to special tax items and a charge of $0.05 per share related to restructuring activities
Initiates fiscal first quarter 2020 revenue guidance of $780 to $820 million with GAAP diluted EPS of $0.87 to $0.97

NEENAH, WI – October 23, 2019 - Plexus (NASDAQ: PLXS) today announced financial results for its fiscal
fourth quarter ended September 28, 2019, and guidance for its fiscal first quarter ending January 4, 2020.
 
 
Three Months Ended
 
 
Sept 28, 2019
 
Sept 28, 2019
 
Jan 4, 2020
 
 
Q4F19 Results
 
Q4F19 Guidance (3)
 
Q1F20 Guidance
Summary GAAP Items
 
 
 
 
 
Revenue (in millions)

$810

 
$760 to $800
 
$780 to $820
Operating margin
4.6
%
 
See note (3)
 
4.5% to 4.9%
Diluted EPS (1)

$1.23

 
See note (3)
 
$0.87 to $0.97
 
 
 
 
 
 
 
Summary Non-GAAP Items (2)
 
 
 
 
 
Adjusted operating margin
4.8
%
 
See note (3)
 
 
Adjusted diluted EPS (1)

$0.93

 
See note (3)
 
 
Return on invested capital (ROIC)
13.1
%
 
 
 
 
Economic Return
4.1
%
 
 
 
 
 
 
 
 
 
 
 
(1)
Includes stock-based compensation expense of $0.19 for Q4F19 results and $0.18 for Q4F19 and Q1F20 guidance.
(2)
Refer to Non-GAAP Supplemental Information in Tables 1 and 2 for non-GAAP financial measures and a reconciliation to GAAP.
(3)
Q4F19 guidance, issued on July 17, 2019, for operating margin of 4.5% to 4.9% and diluted EPS of $0.81 to $0.91 did not include the impact of $10.5 million in special tax benefits, or $0.35 per share, and $1.7 million ($1.5 million after tax), or $0.05 per share, of restructuring charges.
Fiscal Fourth Quarter 2019 Information
Won 35 manufacturing programs during the quarter representing $202 million in annualized revenue when fully ramped into production
Trailing four quarter wins total $907 million in annualized revenue when fully ramped into production
Purchased $31.4 million of our shares at an average price of $58.38 per share under our existing share repurchase programs
Fiscal Year 2019 Information
Revenue of $3.2 billion, up 10% from fiscal 2018
GAAP diluted EPS of $3.50
Non-GAAP adjusted diluted EPS of $3.43, excluding a net benefit of $0.12 per share related to special tax items and a charge of $0.05 per share related to restructuring activities
ROIC of 13.1%, delivering an economic return of 410 basis points above our weighted average cost of capital
Purchased $182 million of our shares at an average price of $57.19 per share under our existing share repurchase programs

1

The following information was filed by Plexus Corp (PLXS) on Wednesday, October 23, 2019 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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