Sanmina (SANM) 8-K Sanmina-sci Revises Stock Compensation Expenses and Issues Revised First Quarter Fiscal 2006 Results

EXHIBIT 99.2

Revised Release Financials

SANMINA-SCI CORPORATION

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(GAAP)

(Unaudited)

	Three Months Ended
	December 31, 2005			January 1, 2005
Net sales	$	2,861,797		$	3,252,706
Cost of sales	2,692,117			3,075,739
Gross profit	169,680			176,967
Operating expenses:
Selling, general and administrative	88,535			87,309
Research and development	8,917			7,490
Amortization of intangible assets	2,233			2,030
Integration costs	175			114
Restructuring costs	35,628			20,425
Total operating expenses	135,488			117,368
Operating income	34,192			59,599
Interest Income	5,925			3,507
Interest expense	(34,248		)	(30,056		)
Other expense, net	1,054			270
Interest and other expense, net	(27,269		)	(26,279		)
Income before income taxes and cumulative effect of accounting change	6,923			33,320
Provision for (benefit from) income taxes(1)	(12,957		)	8,954
Income before cumulative effect of accounting change	19,880			24,366
Cumulative effect of accounting change, net of tax (2)	4,752			—
Net income	$	24,632		$	24,366
Income per share before cumulative effect of accounting change:
Basic	$	0.04		$	0.05
Diluted	$	0.04		$	0.05
Net income per share:
Basic	$	0.05		$	0.05
Diluted	$	0.05		$	0.05
Weighted average shares used in computing per share amounts:
Basic	524,311			519,205
Diluted	524,703			525,008

(1)Included a one-time favorable income tax adjustment of $64.0 million relating to previously-accrued income taxes that were reversed as a result of a settlement reached with the U.S. Internal Revenue Service.  The settlement was in relation to certain U.S. tax audits.  Notification of approval of the settlement by the Congressional Joint Committee on Taxation was received following the filing of the Company’s Annual Report on Form 10-K for fiscal 2005.  Of the $64 million adjustment, $27.9 million was recorded as an income tax benefit to earnings.  The remaining $36.1 million was recorded as an adjustment for pre-merger tax items with SCI Systems.

(2)Impact of adoption of SFAS 123R “Shared-Based Payment”.

SANMINA-SCI CORPORATION

Condensed Consolidated Balance Sheets

(In thousands)

(GAAP)

	December 31, 2005			October 1, 2005
	(Unaudited)			(Derived from
				audited financials)
ASSETS
Current assets:
Cash and cash equivalents	$	1,011,098		$	1,068,053
Short-term investments	28,178			57,281
Accounts receivable, net	1,612,325			1,477,401
Inventories	1,122,773			1,015,035
Deferred income taxes	39,107			42,767
Prepaid expenses and other current assets	104,142			86,620
Total current assets	3,917,623			3,747,157
Property, plant and equipment, net	606,895			662,101
Goodwill	1,654,126			1,689,198
Other intangible assets, net	33,658			35,907
Other non-current assets	80,363			81,874
Restricted cash	25,538			25,538
Total assets	$	6,318,203		$	6,241,775
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	1,259		$	1,439
Accounts payable	1,636,397			1,559,172
Accrued liabilities	353,322			366,920
Accrued payroll and related benefits	141,141			146,687
Total current liabilities	2,132,119			2,074,218
Long-term liabilities:
Long-term debt, net of current portion	1,635,847			1,644,666
Other	152,774			143,873
Total long-term liabilities	1,788,621			1,788,539
Stockholders’ equity:
Preferred stock	—			—
Common stock	5,475			5,457
Treasury stock	(188,200		)	(188,519		)
Additional paid-in capital	5,749,864			5,745,125
Accumulated other comprehensive income	25,623			36,886
Accumulated deficit	(3,195,299		)	(3,219,931		)
Total stockholders’ equity	2,397,463			2,379,018
Total liabilities and stockholders’ equity	$	6,318,203		$	6,241,775