Last $42.24 USD
Change Today -0.33 / -0.78%
Volume 188.3K
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As of 8:10 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

plexus corp (PLXS) Snapshot

Open
$42.33
Previous Close
$42.57
Day High
$42.76
Day Low
$42.13
52 Week High
04/21/14 - $45.53
52 Week Low
07/17/13 - $30.21
Market Cap
1.4B
Average Volume 10 Days
183.2K
EPS TTM
$2.62
Shares Outstanding
33.9M
EX-Date
--
P/E TM
16.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for PLEXUS CORP (PLXS)

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plexus corp (PLXS) Details

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services. It offers product development and conceptualization; product design and value-engineering solutions, including program management, feasibility studies, product conceptualization, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, and test specifications development and product verification testing; commercialization solutions, such as prototyping, new product introduction, design for supply chain, test development, and transition management; manufacturing solutions; and fulfillment and logistics solutions. The company also provides sustaining solutions, which include sustaining engineering solutions comprising failure and root cause analysis, redesign for cost reduction, enhanced reliability and obsolescence mitigation, and regulatory compliance surveillance and remediation; sustaining supply chain solutions consisting of reverse logistics management, logistics optimization, component lifecycle analysis, and alternate component sourcing and supplier qualification; and sustaining manufacturing solutions, including receiving and diagnostic analysis on returned goods, warranty and non-warranty repair, refurbishment and upgrade to outdated products, and field replenishment strategies. In addition, it offers value-add solutions, such as engineering change-order management, cost reduction redesign, component obsolescence management, product feature expansion, test enhancement, and component re-sourcing. The company provides its solutions to companies in the networking/communications, healthcare/life sciences, industrial/commercial, and defense/security/aerospace sectors in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region. Plexus Corp. was founded in 1979 and is headquartered in Neenah, Wisconsin.

9,200 Employees
Last Reported Date: 11/22/13
Founded in 1979

plexus corp (PLXS) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $800.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $371.3K
Regional President of Plexus Asia Pacific
Total Annual Compensation: $366.6K
Chief Customer Officer and Executive Vice Pre...
Total Annual Compensation: $315.4K
Compensation as of Fiscal Year 2013.

plexus corp (PLXS) Key Developments

Plexus Corp. Announces Omnibus Amendment to Its Credit Agreement

On May 15, 2014, Plexus Corp., the lenders listed on the signature pages thereto and U.S. Bank National Association, as administrative agent, entered into an omnibus amendment to the company's credit agreement, dated as May 15, 2012, among the Company and the banks, financial institutions and other institutional lenders listed on the signature pages thereof, U.S. Bank National Association, as administrative agent, PNC Bank, National Association, as syndication agent, The Bank of Tokyo-Mitsubishi UFJ Ltd., HSBC Bank USA, National Association, RBS Citizens, N.A. and Wells Fargo Bank, N.A., as co-documentation agents, and U.S. Bank National Association and PNC Capital Markets, LLC, as joint lead arrangers and joint book runners, related to its senior unsecured credit facility. As a result of the Amendment, the Credit Facility, which was formerly a $250 million facility consisting of a $160 million revolving credit facility and a $90 million term loan (balance of $75 million as of May 15, 2014), was converted into a $235 million revolving credit facility. The Credit Facility may potentially be increased by $100 million to $335 million generally by mutual agreement of the Company, the lenders, the letter of credit issuers and the administrative agent named in the Credit Agreement, subject to certain customary conditions. Borrowings under the Credit Facility bear interest, at the Company's option, at a eurocurrency or base rate plus, in each case, an applicable interest rate margin based on the Company's then-current consolidated total debt to consolidated EBITDA (as defined in the Credit Agreement) ratio. At the Company's current leverage ratio, the interest rate margin would be 1.125% on eurocurrency loans and 0% on base rate loans. In addition, the Amendment extends the termination date of the Credit Facility from May 15, 2017 to May 15, 2019, and modifies certain definitions and other provisions.

Plexus Corp. Announces Management Changes

Plexus Corp. announced that Patrick J. Jermain has assumed the role of Chief Financial Officer succeeding outgoing CFO, Ginger Jones, who intends to resign from her employment with Plexus by September 28, 2014. Jones will remain employed by Plexus in a non-executive officer role to assist with the transition of her successor. Jermain, 48, joined Plexus in 2010 most recently serving as Treasurer and Vice President of Finance since April 2013, and previously as Corporate Controller. Before joining Plexus, Mr. Jermain was the Corporate Controller, Assistant Treasurer and Principal Accounting Officer at Appleton Papers Inc., currently known as Appvion Inc. Ginger M. Jones is also resigning as Senior Vice President of the company. Patrick J. Jermain also assumed the role of principal accounting officer in addition to CFO, effective immediately.

Plexus Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 29, 2014; Reports Impairment Charges for the Quarter of 2014; Provides Earnings Guidance for the Third Quarter of Fiscal 2014 and Capital Expenditure for the Fiscal Year 2014

Plexus Corp. announced unaudited consolidated earnings results for the second quarter and six months ended March 29, 2014. For the quarter, net sales were $557,616,000 against $557,824,000 a year ago. Operating income was $19,000,000 against $23,188,000 a year ago. Income before income taxes was $17,272,000 against $19,931,000 a year ago. Net income was $18,516,000 or $0.53 per diluted share against $17,975,000 or $0.52 per diluted share a year ago. Adjusted operating profit was $25,045,000 against $23,188,000 a year ago. Adjusted net income was $20,831,000 or $0.60 per diluted share against $17,975,000 or $0.52 per diluted share a year ago. The company generated $16 million in cash from operation and spent $8.8 million in capital expenditures with approximately half of that capital for footprint expansion in Guadalajara, Mexico. Resulting free cash flow during the quarter was $7.2 million. For the six months, net sales were $1,091,521,000 against $1,088,356,000 a year ago. Operating income was $40,761,000 against $44,672,000 a year ago. Income before income taxes was $37,098,000 against $37,617,000 a year ago. Net income was $36,179,000 or $1.04 per diluted share against $34,591,000 or $1.00 per diluted share a year ago. Adjusted operating profit was $50,411,000 against $44,672,000 a year ago. Cash flow provided by operations was $16 million. Capital expenditures were $8.8 million and free cash flow was $7.2 million. For the third quarter, the company expects revenue to be between $600 million to $630 million. Diluted EPS is expected to be between $0.69 to $0.74. Gross margin is expected to be in the range of 9.4% to 9.6%. The company is estimating a tax rate for fiscal 2014 of 8% to 10%, above fiscal 2013 rate of 3.2%. For the full year, the company estimates capital expenditure of $75 million. For the quarter, fixed assets impairment charges were $3,160,000.

 

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PLXS

Industry Average

Valuation PLXS Industry Range
Price/Earnings 17.6x
Price/Sales 0.6x
Price/Book 1.9x
Price/Cash Flow 17.1x
TEV/Sales 0.4x
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