---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-059130"
form_type: "8-K"
ticker: "SANM"
cik: "0000897723"
company_name: "SANMINA CORP"
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:31:43.188815+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Sanmina says prior financials from FY2020 to Q1 FY2023 cannot be relied upon; restatement pending

## Summary
- Audit Committee found division personnel made unsupported cost adjustments; revenue misstated by $10.2M (FY20), $18.3M (FY21), ($29.1M) (FY22), $5.6M (Q1 FY23).
- EPS over/(under)stated by $0.09 (FY20), $0.29 (FY21), $0.25 (FY22), ($0.06) (Q1 FY23) in the affected periods.
- Division accounts for ~3% of annual revenue; investigation identified weak finance function and culture lacking rigor in contract estimate review.
- Preliminary Q2 FY23 results: revenue $2.32B, GAAP diluted EPS $1.33, non-GAAP diluted EPS $1.59.
- Company intends to file restated financials on Form 10-K/A and 10-Q/A as soon as possible.

## SEC filing metadata
- accession: 0001104659-23-059130
- form_type: 8-K
- ticker: SANM
- cik: 0000897723
- company_name: SANMINA CORP
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/897723/000110465923059130/0001104659-23-059130-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/897723/000110465923059130/tm2315406d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-059130
- JSON: https://secwatch.observer/filing/0001104659-23-059130.json
- Plain text: https://secwatch.observer/filing/0001104659-23-059130.txt

## Key facts
- Auditor Changes
  SANMINA CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: PricewaterhouseCoopers LLP
  source text: the Audit Committee concluded that the consolidated financial statements for the Affected Periods included in the Company’s Annual Reports on Form 10-K for the fiscal years ended October 3, 2020, October 2, 2021 and October 1, 2022 and the unaudited condensed consolidated financial statements included in the Company’s Quarterly Reports on Form 10-Q for the quarterly fiscal periods included in such fiscal years and for the first fiscal quarter ended December 31, 2022 should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/897723/000110465923059130/0001104659-23-059130-index.htm
- Earnings Releases
  SANMINA CORP reported for the fiscal second quarter ended April 1, 2023 results: revenue Revenue: $2.32 billion, EPS GAAP diluted EPS: $1.33; Non-GAAP diluted EPS: $1.59.
  - Period: for the fiscal second quarter ended April 1, 2023
  - Revenue: Revenue: $2.32 billion
  - EPS: GAAP diluted EPS: $1.33; Non-GAAP diluted EPS: $1.59
  - Result: preliminary results
  source text: Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported preliminary financial results for the fiscal second quarter ended April 1, 2023 and outlook for its fiscal third quarter ending July 1, 2023. Second Quarter Fiscal 2023 Financial Highlights § Revenue: $2.32 billion § GAAP operating margin: 5.2% § GAAP diluted EPS: $1.33 § Non-GAAP (1) operating margin: 5.8% § Non-GAAP diluted EPS: $1.59
  evidence_url: https://www.sec.gov/Archives/edgar/data/897723/000110465923059130/0001104659-23-059130-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.