The company provides non-GAAP supplemental information. For example, our call today may refer to earnings or earnings per share, EPS, excluding restructuring costs or other unusual items. Non-GAAP financial data is provided to facilitate meaningful period-to-period comparisons of underlying operational performance by eliminating infrequent or unusual charges. Similar non-GAAP financial measures including return on invested capital are used for internal management assessments because such measures provide additional insight into ongoing financial performance. For a full reconciliation of non-GAAP supplemental information, please refer to yesterday’s press release and our periodic SEC filings.Joining me this morning are Dean Foate, President and Chief Executive Officer; Ginger Jones, Vice President and Chief Financial Officer; Todd Kelsey, Senior Vice President of Global Customer Services; and Michael Buseman, Senior Vice President of Global Manufacturing Operations. Let me now turn the call over to Dean Foate. Dean? Dean Foate Thank you, Angelo, and good morning everyone. Last night we reported results for our fourth fiscal quarter of 2010. Revenues were $556 million, up 3.6% sequentially with EPS of $0.65. Both revenue and earnings exceeded the higher end of our guidance range. We are pleased to deliver a strong quarter bringing a close to a really wonderful year. Fiscal 2010 was an excellent year for Plexus with organic revenue growth of 25%, driving full year revenue above $2 billion, a significant and exciting milestone for the company. We grew revenues in all of our market sectors with the lone exception being our smallest sector, Defense, Security, and Aerospace. We grew revenues in all regions, the Americas, EMEA, and Asia-Pacific. The APAC region experienced exceptional growth, and in combination with your facility in Mexico shifted the company’s revenue mix in favor of low-cost regions for the first time. Our engineering solutions group contributed meaningfully to our financial performance, delivering highly valued solutions to our customers and exciting new products into manufacturing.
Importantly, our teams are disciplined and consistently focused not just on growth, but on delivering profitable revenue growth. As a consequence, we delivered full year EPS of $2.19, an 87% improvement over the prior year, while improving our return on invested capital performance to 19.5%. We remain committed to ROIC as a key variable and compensation incentive metric for the company. One of our enduring financial goals is to deliver ROIC at least 500 basis points above our weighted average cost of capital, a fundamental delivering economic profit and shareholder value.Turning now to some additional insight into our sector [ph] performance by market sector and our current expectations for early fiscal 2011. Our Wireline/Networking sector was down 1% in Q4, in line with our expectations when we established guidance for the quarter. While we experienced growth with the majority of our significant customers in this sector, and market challenges with a couple of customers held this sector to overall lackluster performance. Our Wireline/Networking sector, our biggest sector, grew a robust 18% in fiscal 2010. Looking ahead to Q1, we currently expect our Wireline/Networking sector to grow in the mid-single digit percentage range, although the performance among the top 10 customers is a mixed bag and ups and downs. Our Wireless Infrastructure sector grew approximately 5% in Q4, a weaker performance than the 10% growth we had anticipated, as a couple of customers experienced weaker than anticipated end market demand. While a smaller and volatile sector in our overall portfolio, our Wireless Infrastructure sector grew 43% in fiscal 2010. In Q1, our Wireless Infrastructure revenues are expected to decline about 10% as the wind down production of this Cisco Starent program. As previously disclosed, Cisco acquired Starent earlier in the calendar year, and informed us early on that they intend to consolidate the Starent program into one of their preferred EMS partners. As we communicated earlier, we had modeled an aggressive ramp down of the Starent business in fiscal 2011 forecast. The latest plan is even more aggressive as we currently anticipate largely completing the Starent transition during fiscal Q1. Read the rest of this transcript for free on seekingalpha.com