Plexus Announces Fiscal First Quarter 2019 Financial Results

• Quarterly revenue of $766 million during the fiscal first quarter of 2019
• GAAP diluted EPS of $0.69
• Non-GAAP adjusted diluted EPS of $0.91, excluding $0.22 per share of tax expense related to
  recently issued regulations under U.S. tax reform
• Initiates fiscal second quarter 2019 revenue guidance of $760 to $800 million with GAAP diluted
  EPS of $0.80 to $0.90

Fiscal First Quarter 2019 Information

• Won 33 manufacturing programs during the quarter representing $230 million in annualized revenue
  when fully ramped into production
• Trailing four quarter manufacturing wins total $920 million in annualized revenue when fully
  ramped into production
• Purchased $50.1 million of our shares at an average price of $57.53 per share under our existing
  share repurchase program

Todd Kelsey, President and CEO, commented “Our fiscal first quarter results were aligned with our
expectations entering the quarter. We delivered revenue of $766 million and non-GAAP EPS of $0.91, which
represented increases of 13% and 21%, respectively, over the comparable period in fiscal 2018. In addition,
we achieved strong operating performance with operating margin of 4.8%, firmly within our enduring target
range of 4.7% to 5.0%.”

Patrick Jermain, Senior Vice President and CFO, commented, “Fiscal first quarter GAAP diluted EPS included
$0.22 per share of expense related to additional regulations issued by the U.S. Department of the Treasury
in November 2018 under the U.S. Tax Cuts and Jobs Act. During the quarter, we repurchased over $50
million of our shares, which was partially funded with repatriated cash. Since the enactment of U.S. tax reform,
we have brought back over $450 million.”

Mr. Kelsey continued, “As we look ahead to the fiscal second quarter, we expect new program ramps will
offset weakness in the semiconductor capital equipment market. Therefore, we are guiding revenue of $760
million to $800 million. We anticipate revenue at this level will lead to GAAP diluted EPS in the range of $0.80
to $0.90.”

Mr. Jermain concluded, “We anticipate non-operating expenses in the fiscal second quarter to be
approximately $1.6 million, or $0.05 per share, higher than the fiscal first quarter. The increase is primarily
related to additional interest expense from expected increased borrowing under our revolving credit facility
and the commencement of a capital lease for our new facility in Guadalajara, Mexico. In addition, our
operating margin is expected to be slightly below our enduring target range as we absorb the reset of payroll
tax for U.S. employees and seasonal salary adjustments.”

Mr. Kelsey concluded, “Within the fiscal first quarter our teams delivered $230 million of new manufacturing
wins, consisting of a healthy mix of programs with new and existing customers, bringing our trailing four
quarter wins to a recent high of $920 million. When we couple the new wins strength with largely stable end
markets in our non-traditional sectors, we expect a solid growth year in fiscal 2019. In addition, we anticipate
operating margin within our 4.7% to 5.0% target range for the fiscal year as we mitigate the second quarter
seasonal cost pressures through improved productivity. These factors, combined with our share repurchase
program, are expected to result in EPS leverage in fiscal 2019.”