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BUSINESS
September 3, 1998
* San Jose-based Sanmina Corp. shares fell 8% after the maker of printed circuit boards warned of disappointing earnings, at the same time it announced it will buy rival Altron Inc. of Wilmington, Mass., for as much as $226.6 million in stock and debt. Sanmina's warning was the first time it has indicated it won't meet analysts' expectations. Altron also warned of lower-than-expected earnings. The companies blamed delays in shipments and slowing demand. Shares of Sanmina fell $2.
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BUSINESS
September 14, 2006 | From Bloomberg News
Sanmina-SCI Corp. said it probably would restate earnings for the last three years after an internal probe of options grants. Quarterly profit statements and news releases dating to Sept. 29, 2002, should no longer be relied upon, San Jose-based Sanmina said Wednesday in a regulatory filing. More than 125 companies have disclosed federal or internal investigations into whether they improperly backdated stock option grants.
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BUSINESS
July 23, 1997 | (Bloomberg News)
Sanmina Corp. said it will buy rival circuit board maker Elexsys International Inc. of Irvine in a stock swap valued at about $220 million. The bid is valued at $22.21 a share, based on Sanmina's closing price Tuesday of $67.31, up $1.19 on Nasdaq. Elexsys shareholders will receive 0.33 share of Sanmina for each of their Elexsys shares, the companies said. The purchase will broaden Sanmina's product offerings and enhance its technology, Chief Executive Jure Sola said in a statement.
BUSINESS
July 17, 2001 | MICHAEL LOVELL, BLOOMBERG NEWS
Sanmina Corp., a contract manufacturer of telecommunications equipment and computers marketed by other companies, agreed to buy rival SCI Systems Inc. for about $4.5 billion in stock as competition intensifies for fewer sales. Sanmina will swap 1.36 shares for each SCI share, and will assume about $1.5 billion in SCI debt, the companies said Monday. Shares of San Jose-based Sanmina fell $2.38, or 11%, to $19.76 on Nasdaq. Huntsville, Ala.-based SCI rose $1.28, or 5.1%, to $26.
BUSINESS
April 18, 2000 | Bloomberg News
Sanmina Corp., a contract electronics maker, said it agreed to buy Hadco Corp., which makes electronic connection equipment, for $1.28 billion to sell more circuit boards and add production capacity. Sanmina said it will pay 1.4 of its shares for each Hadco share, valued at $71.31 a share based on Sanmina's closing price Monday. That's an 18% premium to the share price of Hadco, valuing the stock portion of the transaction at $992 million. Hadco had $288 million in debt as of Jan. 29.
BUSINESS
July 17, 2001 | MICHAEL LOVELL, BLOOMBERG NEWS
Sanmina Corp., a contract manufacturer of telecommunications equipment and computers marketed by other companies, agreed to buy rival SCI Systems Inc. for about $4.5 billion in stock as competition intensifies for fewer sales. Sanmina will swap 1.36 shares for each SCI share, and will assume about $1.5 billion in SCI debt, the companies said Monday. Shares of San Jose-based Sanmina fell $2.38, or 11%, to $19.76 on Nasdaq. Huntsville, Ala.-based SCI rose $1.28, or 5.1%, to $26.
BUSINESS
September 14, 2006 | From Bloomberg News
Sanmina-SCI Corp. said it probably would restate earnings for the last three years after an internal probe of options grants. Quarterly profit statements and news releases dating to Sept. 29, 2002, should no longer be relied upon, San Jose-based Sanmina said Wednesday in a regulatory filing. More than 125 companies have disclosed federal or internal investigations into whether they improperly backdated stock option grants.
BUSINESS
May 26, 2000 | Bloomberg News, Reuters
Update on stock price decimalization: The Securities and Exchange Commission expects to let the New York Stock Exchange introduce dollars-and-cents prices that move in 1-cent increments, with the Nasdaq Stock Market starting in 5-cent increments, an SEC official said. The SEC preparations mean that, as the securities industry moves away from quoting stocks in fractions, investors initially will see different kinds of decimal prices on the two biggest markets.
BUSINESS
October 13, 2006 | From the Associated Press
Sanmina-SCI Corp. has severed ties with an executive accused of helping to manipulate the value of employee stock options in a nearly decade-long scheme now under investigation by a federal grand jury. Sanmina spokeswoman Paige Bombino declined to identify the executive, saying only that it wasn't the company's chief executive or chief financial officer.
BUSINESS
January 9, 2002 | Reuters
Contract manufacturer Sanmina-SCI Corp. said it will take over production of some IBM desktop computers in the United States and Europe in a $5-billion pact IBM said will cut its costs in the extremely competitive personal computer industry. The move comes on the back of declining revenue in IBM's personal computer and printing division. San Jose-based Sanmina-SCI will produce the NetVista computers, IBM's main desktop line covering several different models sold primarily to large corporations.
BUSINESS
April 18, 2000 | Bloomberg News
Sanmina Corp., a contract electronics maker, said it agreed to buy Hadco Corp., which makes electronic connection equipment, for $1.28 billion to sell more circuit boards and add production capacity. Sanmina said it will pay 1.4 of its shares for each Hadco share, valued at $71.31 a share based on Sanmina's closing price Monday. That's an 18% premium to the share price of Hadco, valuing the stock portion of the transaction at $992 million. Hadco had $288 million in debt as of Jan. 29.
BUSINESS
September 3, 1998
* San Jose-based Sanmina Corp. shares fell 8% after the maker of printed circuit boards warned of disappointing earnings, at the same time it announced it will buy rival Altron Inc. of Wilmington, Mass., for as much as $226.6 million in stock and debt. Sanmina's warning was the first time it has indicated it won't meet analysts' expectations. Altron also warned of lower-than-expected earnings. The companies blamed delays in shipments and slowing demand. Shares of Sanmina fell $2.
BUSINESS
July 23, 1997 | (Bloomberg News)
Sanmina Corp. said it will buy rival circuit board maker Elexsys International Inc. of Irvine in a stock swap valued at about $220 million. The bid is valued at $22.21 a share, based on Sanmina's closing price Tuesday of $67.31, up $1.19 on Nasdaq. Elexsys shareholders will receive 0.33 share of Sanmina for each of their Elexsys shares, the companies said. The purchase will broaden Sanmina's product offerings and enhance its technology, Chief Executive Jure Sola said in a statement.
BUSINESS
March 24, 2001 | From Dow Jones Newswires
Shares of DDI Corp. climbed nearly 24% Friday, leading a rebound by several printed circuit-board makers whose stocks had plummeted earlier in the week when a rival disclosed a negative business outlook. Analysts said Anaheim-based DDI doesn't necessarily fall into the same category as rival Merix Corp.
BUSINESS
March 12, 1995
* William Hegarty has been appointed chief operating officer of Elexsys International Inc. in Irvine, a manufacturer of circuit boards and back panels formerly known as Diceon Electronics Inc. Hegarty was previously vice president of sales and marketing at Sanmina Corp. Before that, he was with Kollmorgen Corp. for eight years. * Frederic Castan has joined the Westin South Coast Plaza hotel in Costa Mesa as executive chef.
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