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Internal Revenue Code section d provides: "The social security account number issued to an individual for purposes of section c 2 A of the Social Security Act [codified as 42 U. From Wikipedia, the free encyclopedia. Identifier for a taxpaying entity in the U. This article is about identification numbers used in the US tax system.
For taxpayer identification numbers used in other countries, see National identification number. For other types of identifying numbers, see UID disambiguation. Not to be confused with Personal identification number. Federal taxation. Furr was appointed to such position in March As of the consummation of the merger, Mr. In July , Mr. In March , Mr. Furr was appointed President and Chief Operating Officer.
In December , Mr. Furr is a Certified Public Accountant. Ackel worked with a number of high technology and manufacturing clients. ITEM 5. The following table lists the high and low closing prices for Sanmina-SCI's common stock as reported on Nasdaq. As of December 10, , we had approximately 2, common stockholders of record. We have never declared or paid any cash dividends on our common stock. We currently expect to retain future earnings for use in the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future.
ITEM 7. Sanmina-SCI Corporation "Sanmina-SCI" was incorporated in Delaware in May to acquire its predecessor company which had been in the printed circuit board and backplane business since Sanmina-SCI is a leading independent provider of customized integrated electronic manufacturing services "EMS" , including turnkey electronic assembly and manufacturing management services, to original.
Sanmina-SCI's electronics manufacturing services consist primarily of the design and manufacture of complex printed circuit board assemblies using surface mount "SMT" and pin-through hole "PTH" interconnection technologies, the manufacture of custom designed backplane assemblies, fabrication of complex multi-layered printed circuit boards, metal stamping and plating, electronic enclosure systems, subsystem assembly, testing, and assembly of completed systems and direct order fulfillment. In addition to assembly, turnkey manufacturing management also involves procurement and materials management, as well as consultation on printed circuit board design and manufacturing.
Sanmina-SCI also manufactures custom cable and wire harness assemblies. Sanmina-SCI, prior to its merger with SCI, manufactured its products in 53 decentralized plants, consisting of 28 electronics assembly facilities, 9 printed circuit board fabrication facilities, 3 cable assembly facilities, 12 enclosure assembly facilities and 1 other manufacturing facility. In addition to the above facilities, Sanmina-SCI had a This transaction includes the purchase of certain manufacturing operations in the United States, in Mexico and Northern Ireland.
The transaction was structured as a stock for stock exchange and was accounted for as a pooling of interests. Under the terms of the agreement, each Segerstrom common share and convertible debenture was converted into approximately 0. Sanmina-SCI has commenced a compulsory acquisition process for the remaining shares in accordance with Swedish law and business practice. Sanmina-SCI has issued approximately Segerstrom has manufacturing facilities in Brazil, Finland, Scotland and Sweden. Prior to being acquired by Sanmina-SCI, Segerstrom operated under a calendar year end, and accordingly, Segerstrom's statements of operations, shareholders' equity and cash flows for the year ended December 31, have been combined with the corresponding Sanmina-SCI consolidated statements for the year ended September 30, Sanmina-SCI's results of operations have varied and may continue to fluctuate significantly from period to period, including on a quarterly basis.
Sanmina-SCI's operating results are affected by a number of factors. These factors include timing of orders from major customers, mix of product ordered by and shipped to major customers, the volume of orders as related to Sanmina-SCI's capacity, the ability of Sanmina-SCI to effectively manage inventory and fixed assets, pricing and competitive pressures, component shortages, which could cause Sanmina-SCI to be unable to meet customer delivery schedules, and the ability of Sanmina-SCI to time expenditures in anticipation of future sales.
Sanmina-SCI's results are also affected by the mix of products between backplane assemblies and printed circuit boards as well as general economic conditions in the electronics industry. From time to time, Sanmina-SCI experiences changes in the volume of sales to each of its principal customers, and operating results may be affected on a period-to-period basis by these changes.
Sanmina-SCI's customers generally require short delivery cycles, and a substantial portion of Sanmina-SCI's backlog is typically scheduled for delivery within six months. Quarterly sales and operating results therefore depend in large part on the volume and timing of bookings received during the quarter, which are difficult to forecast, especially with the uncertainty and slowdown of Sanmina-SCI's customers' end-markets.
Sanmina-SCI's backlog also affects its ability to plan production and inventory levels, which could lead to fluctuations in operating results. In addition, a significant portion of Sanmina-SCI's operating expenses are relatively fixed in nature and planned expenditures are based in part on anticipated orders. Any inability to adjust spending quickly enough to compensate for any revenue shortfall may magnify the adverse impact of such revenue shortfall on Sanmina-SCI's results of operations.
Results of operations in any period should not be considered indicative of the results to be expected for any future period.
In addition, fluctuations in operating results may also result in fluctuations in the price of Sanmina-SCI's convertible subordinated notes and common stock. Sanmina-SCI's customers include a diversified base of OEMs in the communications telecommunications and networking , high-speed computer systems, industrial and medical instrumentation, multimedia entertainment and personal computers sectors of the electronics industry.
These industry sectors, and the electronics industry as a whole, are subject to rapid technological change and product obsolescence. The electronics industry is also subject to economic cycles and has in the past experienced, and is likely in the future to experience, recessionary periods.
In particular, many sectors of the electronics industry, including particularly the telecommunications sector, are currently experiencing a significant downturn in economic conditions. These changes in demand and in economic conditions have resulted and may continue to result in customer rescheduling of orders and shipments, which could affect Sanmina-SCI's results of operations.
In addition, a protracted general recession in the electronics industry could have a material adverse effect on Sanmina-SCI's business, financial condition and results of operations. Sanmina-SCI has no firm long-term volume commitments from its customers and over the last few years has experienced reduced lead-time in customer orders.
In addition, customer orders can be canceled and volume levels can be changed or delayed. The timely replacement of cancelled, delayed or reduced orders with new business cannot be assured. The loss of one or more of Sanmina-SCI's principal customers, or reductions in sales to any of such customers, could have a material adverse effect on Sanmina-SCI's business, financial condition and results of operations.
Acquisitions of companies and businesses and expansion of operations involves certain risks, including. No assurance can be given that Sanmina-SCI will not incur problems with integrating acquired operations, including the integration of SCI, which is currently underway. Furthermore, there can be no assurance that Sanmina-SCI will realize value from any such acquisition that equals or exceeds the consideration paid.
In addition, there can be no assurance that Sanmina-SCI will realize anticipated strategic and other benefits from expansion of existing operations to new sites. Any such problems could have a material adverse effect on Sanmina-SCI's business, financial condition and results of operations. In addition, future acquisitions may result in dilutive issuances of equity securities, the incurrence of additional debt, large one-time write-offs and the creation of other intangible assets that could result in amortization expense and goodwill.
Sanmina-SCI expects that competition for these opportunities among electronics manufacturing services firms will be intense because these transactions typically enable the acquirer to enter into long-term supply arrangements with the divesting OEM. In addition, due to the large scale and long-term nature of supply arrangements typically entered into in OEM divestiture transactions and because cost reductions are generally a major reason why the OEM is divesting operations, pricing of manufacturing services may be less favorable to the manufacturer than in standard contractual relationships.
Delaware North Companies, Inc. Highmark Inc. This report contains forward-looking statements, which involve risks and uncertainties. These matters are described in greater detail under "Factors Affecting Operating Results. As part of the consolidation, Sanmina-SCI reduced its workforce in the same regions by approximately people. You're in good company! From components to complete systems.
The following table sets forth, for the periods indicated, certain statements of operations data expressed as a percentage of net sales. Net Sales. Net sales in fiscal decreased 4. Net sales in fiscal increased The decrease in net sales for fiscal was primary due to a downturn in economic conditions worldwide and in the electronics industry in general, and the communications sector in particular. This downturn has had a significant impact on our customers and the markets in which they sell their products and services during the last nine months of fiscal year The increase in net sales for fiscal as compared to fiscal was due primarily to a more positive economic environment, resulting in increased shipments of printed circuit boards and EMS assemblies to both existing and new customers obtained both through acquisitions and internal growth.
Sanmina-SCI's printed circuit board fabrication operations focused increasingly on manufacturing printed circuit boards used in EMS assemblies and subassemblies manufactured by Sanmina-SCI. Growth in EMS assembly revenues between fiscal and was influenced by the electronics industry trend towards outsourcing, expansion of Sanmina-SCI's operations, both through acquisitions and Sanmina-SCI originated expansions, and a generally positive economic environment in the communications, medical and industrial instrumentation, and high speed computer systems sectors of the electronics industry.
These industry sectors continued to experience overall growth during fiscal and fiscal Domestic sales for fiscal decreased by 3. The decrease in sales in both geographic segments is primarily due to the downturn in economic conditions worldwide. Domestic sales for fiscal increased by As a result of the acquisition of Segerstrom and the prior pooling of interests accounting for Hadco and Essex, Sanmina-SCI has restated its historical results of operations to include the results of operations of these entities.
The financial information presented gives effect to this restatement. A reconciliation of the financial statements for the year ended September 30, , to previously reported information is as follows in thousands :. In the last two fiscal years, Sanmina-SCI has made substantial strategic acquisitions of communication product manufacturing operations and electronics industry related enclosure manufacturers.
These acquisitions contributed to end market diversification and represented 6.
Gross Margin. Gross margins were The decrease in margins between and was primarily attributable to applying fixed costs to a lower base of revenues, changes in product and customer mix and additions to inventory reserves to account for changing customer demand, as compared to the prior year.