Plexus Corp. reported unaudited consolidated earnings results for the first quarter ended January 2, 2016. For the quarter, the company reported net sales of $616.664 million compared to $664.690 million a year ago. Income before income taxes was $17.302 million compared to $26.041 million a year ago. Net income was $14.448 million or $0.42 per diluted share, compared to $23.079 million or $0.67 per diluted share, a year ago. Operating profit was $21.524 million against $28.783 million a year ago. Non-GAAP net income, before special items was $15.955 million or $0.47 per diluted share against $24.770 million or $0.72 per diluted share a year ago. Operating profit, as adjusted was $23.031 million compared to $30.474 million a year ago. The Company delivered $21.3 million in cash from operations and used $11.8 million for capital investments during the quarter.

For the second quarter ending April 2, 2016, the company expects revenue in the range of $600 to $630 million and diluted EPS in the range of $0.47 to $0.55. Effective tax rate of 12% to 14%. Gross margin is expected to be in the range of 8.1% to 8.4%, at the midpoint slightly above the fiscal first quarter of 2016. Depreciation expense is expected to be consistent with the fiscal first quarter at approximately $12 million. Free cash flow in the range of $20 million to $40 million.

For the full year, the company expected effective tax rate of 11% to 13%. The company reaffirms expectation of free cash flow in the range of $80 million to $100 million. Capital spending of approximately $40 million, which will be focused on maintenance capital and capital to support new program ramps.