Will Confirm Third-Quarter Guidance
NEENAH, Wis. — Plexus Corp. (NASDAQ:PLXS) is hosting a meeting on June 18 in the Chicago area to update investors on the company and its strategy, growth initiatives and financial performance. The program will include presentations from Dean Foate, President and Chief Executive Officer, as well as other members of the Company’s senior management team. The event, which runs from 10:00 a.m. to 3:00 p.m. Central Daylight Time (CDT), is being held at the Sheraton Chicago NW Hotel in Arlington Heights, IL.
During the meeting, Plexus Corp. will confirm its prior fiscal 3rd quarter guidance of revenue from $430 to $450 million and EPS, excluding any restructuring charges, in the range of $0.36 to $0.41, including approximately $0.05 per share of stock-based compensation expense. The Company will also confirm that the expected revenue growth for the full year will be in the range of 16% to 18%. The Company will also discuss two additional items that impact the Company’s financial results:
1. The Company has received purchase orders for approximately $5 million of additional production for its historically episodic, unnamed defense program. These orders are expected to be produced and shipped in the 4th fiscal quarter of 2008. While the Company has not yet received any additional purchase orders, we are aware of potential orders in the amount of approximately $17 million. If Plexus receives these orders, it currently anticipates these orders would be produced relatively evenly over the first three quarters of fiscal 2009.
2. Through June 13, 2008 the Company has repurchased a total of $168 million of its common stock, at an average price of $26.57, under the share repurchase program announced on February 25, 2008. The balance of the share repurchase program is expected to be completed in the open market by the end of calendar 2008, although there is no firm schedule or commitment for these purchases.
Individuals who are not able to attend the meeting in person will be able to view a webcast at http://tinyurl.com/43bdgl. A replay of the presentations will be available at the Company’s website: http://www.plexus.com/news.php until 11:59 p.m. CDT on July 18, 2008.
