SAN JOSE, Calif., (April 18, 2002) — Sanmina-SCI Corporation (Nasdaq NM: SANM), a leading supplier of integrated design and electronics manufacturing services (EMS), today reported financial results for its second quarter and six months ended March 30, 2002.

Second quarter fiscal 2002 highlights include:

• EXCLUDING CHARGES, PRO FORMA CASH EARNINGS PER SHARE OF $0.01 INLINE WITH COMPANY’S GUIDANCE
  
• COMPANY GENERATES $305 MILLION IN OPERATING CASH FLOW, EXCLUDING PAY DOWN OF ASSET SECURITIZATION
  
• INTEGRATION OF CORPORATE MERGER EXCEEDING EXPECTATIONS
  COMPANY EXPANDS MANUFACTURING PARTNERSHIPS WITH LEADING OEMs

Reflecting the company’s merger with SCI Systems, which was completed on December 6, 2001, the pro forma financial tables following this release include presentation of combined results of operations for Sanmina and SCI Systems for all periods presented. The pro forma tables are presented before giving effect to merger, restructuring and other infrequent or unusual charges. The GAAP financial tables do not include results of operations for SCI Systems for periods prior to December 6, 2001, the date of completion of the merger.

For the second quarter ended March 30, 2002, Sanmina-SCI reported revenues of $2,411 million, compared to pro forma revenue (giving effect to the combination of Sanmina and SCI Systems) of $3,198 million in the second quarter last year. This compares to revenues of $2,406 million in the first quarter this year.

Pro forma net income for the second quarter ended March 30, 2002 was $132 thousand, compared to $156.7 million in the second quarter last year. The company reported diluted cash earnings per share for the second quarter of $0.01, compared to $0.30 in the second quarter a year ago. These financial results are pro forma and include the results of SCI Systems as if combined at the beginning of each respective period. Results are exclusive of merger, restructuring and other infrequent and unusual charges.

At March 30, 2002, the company reported $928.5 million in cash and investments. Cash provided by operations was approximately $305 million. Approximately, $240 million of this amount was used to pay down asset securitization. At quarter-end, the company had a current ratio of 2.2. Working capital was $2.4 billion and shareholders’ equity was $6.1 billion.

Merger Integration Successful; Company Further Expands OEM Partnerships
"During the quarter, we made great progress in furthering our strategic plan, successfully integrating our two companies, expanding our partnerships with leading OEMs, and advancing our leading-edge technology," said Jure Sola, Sanmina-SCI’s Chairman and Chief Executive Officer. "Following our merger with SCI, which we completed in December last year, we moved aggressively to reduce costs and realign our operations. As a result, we have further enhanced our customer service, reinforcing throughout our global network our core competency of increased flexibility and responsiveness. Our increasing efficiencies in supply chain management and ongoing improvements in customer service underscore our commitment to excellence.

"At the same time, we also focused on our growth strategy announcing initiatives to extend our partnerships with Alcatel, Hewlett Packard and IBM, and expand our leading position in the global EMS market. These OEM transactions, which include the acquisition of full system integration, test and order fulfillment capabilities as well as multi-year supply contracts, advance our strategy of providing customers total manufacturing solutions," continued Sola.

"Reflecting our commitment of providing customers best-in-class engineering and services, during the quarter, we announced further progress in our advanced capabilities in fiber optic design, assembly and test. As a result, we are emerging as a leader in meeting the demands for this next generation network technology.

"As we look to the remainder of this year and increased stability in our markets, we will continue to streamline operations, increase profitability and advance our leadership in providing reliable, innovative technology solutions. We will work closely with our customers helping them to reduce their costs, to increase their profitability, and to strengthen their competitive advantage," Sola concluded.

Company Outlook
Sanmina-SCI projects third quarter fiscal 2002 revenue of approximately $2.4 to 2.7 billion, and cash earnings per share of approximately $0.02 to $0.04, before merger, restructuring and other infrequent or unusual charges.

Company Conference Call Information
Sanmina-SCI will be holding a conference call regarding this announcement on Thursday, April 18, 2002 at 5:00 p.m. EDT (2:00 p.m. PDT). The dial in number for the teleconference: domestic 877-273-6760; international 706-634-6605. The conference will also be broadcast live over the Internet. Log onto the live webcast at http://www.videonewswire.com/event.asp?id=4005. A replay of the conference all will be available for 48 hours. The access numbers are: domestic 877-642-1687 and international 706-645-9291, conference ID 2896153.

About Sanmina-SCI
Sanmina-SCI Corporation is a leading electronics contract manufacturer serving the fastest-growing segments of the $130 billion 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 large OEMs primarily in the communications, industrial and medical instrumentation, and computer technology sectors of the market. Sanmina-SCI has over 100 facilities strategically located in key regions throughout the world. For more information go to http://www.sanmina-sci.com

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 integrate its operations following the merger of Sanmina Corporation and SCI Systems, Inc. and to assimilate other acquired businesses and achieve the anticipated benefits of the merger and other such acquisitions, and competition and technological change. The company's actual results of operations may differ significantly from those contemplated in the company's 2001 Annual Report on Form 10-K and 10K/A filed with the Securities Exchange Commission on December 21, 2001 and March 26, 2002, and the company’s 10-Q filed with the Securities Exchange Commission on February 12, 2002.