UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
October 25, 2012
Date of Report (Date of earliest event reported)
SANMINA-SCI CORPORATION
(Exact name of registrant as specified in its charter)
|
Delaware |
|
000-21272 |
|
77-0228183 |
|
(State or other jurisdiction of |
|
(Commission File Number) |
|
(I.R.S. Employer Identification |
2700 North First Street
San Jose, California 95134
(Address of principal executive offices)
(408) 964-3500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On October 30, 2012, Sanmina-SCI Corporation (the “Company”) issued a press release announcing financial results for its fiscal quarter and full fiscal year ended September 29, 2012. The press release is furnished as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
The information set forth in this Item 2.02, including the exhibit hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. In addition, the information in this report shall not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
item 2.05 costs associated with exit or disposal activities
On October 25, 2012, the Company adopted a restructuring plan which impacts two of its manufacturing facilities. This action will improve the Company’s operational cost structure, flexibility and capacity utilization. As a result of this plan, the Company has recorded charges in its fourth quarter of approximately $11.9 million, consisting of severance pay for affected employees and related asset impairments. A total of $9.3 million of such expenses are expected to be cash and $2.6 million are expected to be non-cash in nature. The Company expects to complete the actions being taken under the plan in fiscal 2013. The Company will continue to evaluate its plans and further restructuring actions may occur, which may cause the Company to incur additional restructuring charges relating to this plan.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
|
Exhibit No |
|
Description |
|
|
|
|
|
Exhibit 99.1 |
|
Earnings Press Release issued by Sanmina-SCI Corporation on October 30, 2012 (furnished herewith) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
SANMINA-SCI CORPORATION | |
|
|
|
|
|
|
|
|
|
|
By: |
/s/ Robert K. Eulau |
|
|
|
Robert K. Eulau |
|
|
|
Executive Vice President and Chief Financial Officer |
|
|
|
|
|
|
|
|
|
Date: October 30, 2012 |
|
|