The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ruplu Bhattacharya - BofA Global Research - Analyst
: Hi, Jure. Thanks for taking my questions. Jure, I just wanted to clarify something, and I have a question on the cloud segment. I think last year you
had said that this was about 16% of revenues and I think on today's call, you said 15% of revenue. So just from the math because revenues is down
year on year, looks like even in cloud, it went from $1.4 billion to $1.1 billion. Where do you see growth within the cloud business? I mean, what
specifically are the growth areas? And how should we think about cloud? Do you think the business grows now from 2024 to 2025? And what
growth rate should we think of for this business?
Question: Ruplu Bhattacharya - BofA Global Research - Analyst
: Okay. Thanks for that. And then maybe just on the communication side, I mean, I know Sanmina has a good, very strong optical footprint. Can you
talk about the trends you are seeing in communication, specifically in networking and optical? You said that maybe the inventory correction is
coming to an end. How many more quarters of that do you see? And even within communications, where do you see growth in fiscal 25?
Question: Ruplu Bhattacharya - BofA Global Research - Analyst
: Okay. Got it. If I can ask Jon a couple of quick questions. Just on, I wanted to focus on margins. So fiscal 4Q revenue came strong at the high-end
operating margin was at the low end. You mentioned some investments. How should we think about the progression of operating margin in fiscal
'25? And can you just talk about your areas of investment in this year?
Question: Ruplu Bhattacharya - BofA Global Research - Analyst
: Okay. Thanks for that. Jon and maybe just the final one for me. Can you just remind us of your priorities for cash in fiscal '25 and maybe you can
also time in when you look at the market right now, you see opportunity for inorganic growth, meaning M&A or how would you think about
buybacks or for their capital rebalancing the balance sheet taking out more debt. So, any thoughts on priorities of cash? Thank you.
Question: Ruplu Bhattacharya - BofA Global Research - Analyst
: Okay. Thank you for all the details. Appreciate.
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