President and COO, Randy Furr Leaves the Company Due to Personal Reasons
October 24 2005 - 9:30AM
PR Newswire (US)
Company Reaffirms Revenue Guidance SAN JOSE, Calif., Oct. 24
/PRNewswire-FirstCall/ -- Sanmina-SCI Corporation (NASDAQ:SANM), a
leading global electronics manufacturing services (EMS) company,
today announced that Randy Furr, its President and Chief Operating
Officer and a member of the Company's Board of Directors, is
leaving the company for personal and family reasons that require
his immediate attention. Mr. Furr has served as the Company's
President and COO since March 1996, and joined the company as Chief
Financial Officer in August 1992. Mr. Furr will also resign as a
member of Sanmina-SCI's board of directors. Mr. Furr stated "I
would like to personally thank the Sanmina-SCI employees and
industry friends for their years of support in helping the Company
grow from approximately $60 million annually to a $12 billion
leader in the EMS industry. I am a firm believer in the EMS
industry and Sanmina-SCI, and believe the company is well
positioned for the future." Mr. Furr continued, "The decision to
leave the company at this time was a difficult one to make, but due
to my personal circumstances, it is more important for me to focus
my attention on my family." "Over the past 13 years, Randy has made
a tremendous contribution to the evolution of Sanmina-SCI," said
Jure Sola, Chief Executive Officer and Chairman of the Board. "He
has been an asset to the company throughout his career. While we
will miss him, we understand his reason for resigning and wish him
and his family the very best. "Randy and I shared the
responsibility of the day-to-day management of the company and I
will continue to assume these responsibilities while some of
Randy's other duties will be distributed among other senior staff
members. "I want to assure our investors, customers and employees
that we are committed to our customer-focused strategy. We believe
that Sanmina-SCI is well positioned for the future." Separately,
the Company also announced that, although the year-end audit of the
Company's financial statements is still in the process of being
completed, based on preliminary results the Company believed that
revenues for its fourth quarter ended October 2, 2005 would be near
the high-end of the $2.65 to $2.8 billion guidance range initially
announced in the Company's press release dated July 26, 2005. The
Company's financial results for the full year and fourth quarter of
fiscal 2005 will be announced at the close of market November 3,
2005. About Sanmina-SCI Sanmina-SCI Corporation is a leading
electronics contract manufacturer serving the fastest-growing
segments of the global electronics manufacturing services (EMS)
market. Recognized as a technology leader, Sanmina-SCI provides
end-to-end manufacturing solutions, delivering unsurpassed quality
and support to OEMs primarily in the communications, defense and
aerospace, industrial and medical instrumentation, computer
technology, and multimedia sectors. Sanmina-SCI has facilities
strategically located in key regions throughout the world. More
information regarding the Company is available at
http://www.sanmina-sci.com/. Sanmina-SCI Safe Harbor Statement The
foregoing, including the discussion regarding the company's future
prospects, contains certain forward-looking statements that involve
risks and uncertainties, including uncertainties associated with
economic conditions in the electronics industry, particularly in
the principal industry sectors served by the company, changes in
customer requirements and in the volume of sales to principal
customers, the ability of Sanmina-SCI to effectively assimilate
acquired businesses and achieve the anticipated benefits of its
acquisitions, and competition and technological change. The
company's actual results of operations may differ significantly
from those contemplated by such forward-looking statements as a
result of these and other factors, including factors set forth in
the company's fiscal year 2004 Annual Report on Form 10-K filed on
December 29, 2004 and 10-Q filed on August 10, 2005 with the
Securities Exchange Commission. SANMF DATASOURCE: Sanmina-SCI
Corporation CONTACT: Paige Bombino, Investor Relations, Sanmina-SCI
Corporation, +1-408-964-3610 Web site: http://www.sanmina-sci.com/
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