Technology
Sanmina Reports Fourth Quarter and Fiscal 2024 Financial Results
Published
3 weeks agoon
By
SAN JOSE, Calif., Nov. 4, 2024 /PRNewswire/ — Sanmina Corporation (“Sanmina” or the “Company”) (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fourth quarter and fiscal year ended September 28, 2024 and outlook for its fiscal first quarter ending December 28, 2024.
Fourth Quarter Fiscal 2024 Financial Highlights
• Revenue: $2.02 billion
• GAAP operating margin: 4.4%
• GAAP diluted EPS: $1.09
• Non-GAAP(1) operating margin: 5.3%
• Non-GAAP(1) diluted EPS: $1.43
Fiscal Year 2024 Financial Highlights
• Revenue: $7.57 billion
• GAAP operating margin: 4.4%
• GAAP diluted EPS: $3.91
• Non-GAAP(1) operating margin: 5.4%
• Non-GAAP(1) diluted EPS: $5.28
Additional Highlights
• Cash flow from operations: Q4 $52 million and FY’24 $340 million
• Free cash flow(2): $29 million in Q4 and $231 million in FY’24
• Share repurchases: 0.9 million shares for $65 million in Q4 and approximately 4.0 million shares for $227 million in FY’24
• Q4 ending cash and cash equivalents: $626 million
(1)
See Schedule 1 below for information regarding the items excluded from and our use of non-GAAP financial measures. A reconciliation of the non-GAAP financial information contained in this release to their most directly comparable GAAP measures is included in the financial statements furnished with this release.
(2)
See Condensed Consolidated Cash Flow Statement included in the financial statements furnished with this release.
“We finished the year with solid momentum. Our fourth quarter revenue was up 9.6 percent sequentially, and non-GAAP diluted earnings per share was up 14.3 percent over the prior quarter and exceeded our outlook. We saw growth in the majority of our end-markets, primarily with strength from the communications networks and cloud infrastructure,” stated Jure Sola, Chairman and Chief Executive Officer of Sanmina Corporation.
“Our fiscal year 2024 results were in line with our expectations as we managed a challenging first half with improvements in the second half of the year. While our revenue was impacted for the year, we delivered another solid year of cash flow from operations. Furthermore, we demonstrated our commitment to return value to our shareholders by repurchasing 4 million shares for $227 million in fiscal 2024.”
“The team has done an excellent job navigating the market dynamics and the Company continues to demonstrate resilience. Based on the forecasts from our customers and currently healthy demand levels, we expect fiscal 2025 to be a growth year,” concluded Sola.
First Quarter Fiscal 2025 Outlook
The following outlook is for the fiscal first quarter ending December 28, 2024. These statements are forward-looking and actual results may differ materially.
Revenue between $1.925 billion to $2.025 billionGAAP diluted earnings per share between $1.03 to $1.13Non-GAAP diluted earnings per share between $1.30 to $1.40
Safe Harbor Statement
The statements above including our financial outlook for the first quarter fiscal 2025 and expectations for growth in fiscal 2025 generally, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, including adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; geopolitical uncertainty, including from the war in Ukraine and conflict in the Middle East; and the other risk factors set forth in the Company’s annual and quarterly reports filed with the Securities Exchange Commission.
The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.
Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the fourth quarter and fiscal year 2024 and outlook for the first quarter of fiscal 2025 on Monday, November 4, 2024 at 4:30 p.m. ET (1:30 p.m. PT). The access numbers are: domestic 800-836-8184 and international 646-357-8785. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q4’24 Earnings. Additional information in the form of a slide presentation is available on Sanmina’s website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 888-660-6345 and international 646-517-4150, access code is 88946#.
About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.
Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610
Sanmina Corporation
Condensed Consolidated Balance Sheets
(in thousands)
(GAAP)
(Unaudited)
September 28,
2024
September 30,
2023
ASSETS
Current assets:
Cash and cash equivalents
$ 625,860
$ 667,570
Accounts receivable, net
1,337,562
1,230,771
Contract assets
384,077
445,757
Inventories
1,335,744
1,477,223
Prepaid expenses and other current assets
79,301
58,249
Total current assets
3,762,544
3,879,570
Property, plant and equipment, net
616,067
632,836
Deferred tax assets
160,703
177,597
Other
175,646
183,965
Total assets
$ 4,714,960
$ 4,873,968
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$ 1,485,484
$ 1,612,833
Accrued liabilities
196,681
267,148
Accrued payroll and related benefits
133,129
127,406
Short-term debt, including current portion of long-term debt
17,500
25,945
Total current liabilities
1,832,794
2,033,332
Long-term liabilities:
Long-term debt
299,823
312,327
Other
220,835
209,684
Total long-term liabilities
520,658
522,011
Stockholders’ equity
2,361,508
2,318,625
Total liabilities and stockholders’ equity
$ 4,714,960
$ 4,873,968
Sanmina Corporation
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(GAAP)
(Unaudited)
Three Months Ended
Twelve Months Ended
September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Net sales
$ 2,017,505
$ 2,052,019
$ 7,568,328
$ 8,935,048
Cost of sales
1,846,212
1,878,591
6,927,899
8,191,837
Gross profit
171,293
173,428
640,429
743,211
Operating expenses:
Selling, general and administrative
70,490
62,124
266,194
255,072
Research and development
8,243
7,715
28,514
26,427
Restructuring
2,970
4,323
10,227
6,054
Total operating expenses
81,703
74,162
304,935
287,553
Operating income
89,590
99,266
335,494
455,658
Interest income
2,799
3,910
12,440
13,595
Interest expense
(5,047)
(8,257)
(29,183)
(36,290)
Other expense
(564)
(8,168)
(1,216)
(20,156)
Interest and other, net
(2,812)
(12,515)
(17,959)
(42,851)
Income before income taxes
86,778
86,751
317,535
412,807
Provision for income taxes
19,438
21,396
79,784
85,294
Net income before noncontrolling interest
67,340
65,355
237,751
327,513
Less: Net income attributable to noncontrolling interest
5,959
3,514
15,215
17,543
Net income attributable to common shareholders
$ 61,381
$ 61,841
$ 222,536
$ 309,970
Net income attributable to common shareholders per share:
Basic
$ 1.12
$ 1.08
$ 4.00
$ 5.36
Diluted
$ 1.09
$ 1.04
$ 3.91
$ 5.18
Weighted-average shares used in computing per share amounts:
Basic
54,783
57,406
55,592
57,847
Diluted
56,235
59,178
56,970
59,815
Sanmina Corporation
Reconciliation of GAAP to Non-GAAP Measures
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended
Twelve Months Ended
September 28,
2024
June 29,
2024
September 30,
2023
September 28,
2024
September 30,
2023
GAAP Operating income
$ 89,590
$ 82,367
$ 99,266
$ 335,494
$ 455,658
GAAP Operating margin
4.4 %
4.5 %
4.8 %
4.4 %
5.1 %
Adjustments:
Stock compensation expense (1)
15,489
14,682
12,942
57,407
50,402
Amortization of intangible assets
—
—
1,342
—
2,493
Distressed customer charges (recoveries)
(2)
—
(2,500)
—
1,799
—
Legal and other (3)
(720)
500
—
1,130
5,170
Restructuring
2,970
1,793
4,323
10,227
6,054
Non-GAAP Operating income
$ 107,329
$ 96,842
$ 117,873
$ 406,057
$ 519,777
Non-GAAP Operating margin
5.3 %
5.3 %
5.7 %
5.4 %
5.8 %
GAAP Net income attributable to common
shareholders
$ 61,381
$ 51,602
$ 61,841
$ 222,536
$ 309,970
Adjustments:
Operating income adjustments (see above)
17,739
14,475
18,607
70,563
64,119
Legal and other (3)
—
—
—
(4,967)
(3,630)
Adjustments for taxes (4)
1,175
4,751
3,526
12,736
3,771
Non-GAAP Net income attributable to
common shareholders
$ 80,295
$ 70,828
$ 83,974
$ 300,868
$ 374,230
GAAP Net income attributable to common
shareholders per share:
Basic
$ 1.12
$ 0.93
$ 1.08
$ 4.00
$ 5.36
Diluted
$ 1.09
$ 0.91
$ 1.04
$ 3.91
$ 5.18
Non-GAAP Net income attributable
to common shareholders per share:
Basic
$ 1.47
$ 1.28
$ 1.46
$ 5.41
$ 6.47
Diluted
$ 1.43
$ 1.25
$ 1.42
$ 5.28
$ 6.26
Weighted-average shares used in
computing per share amounts:
Basic
54,783
55,466
57,406
55,592
57,847
Diluted
56,235
56,711
59,178
56,970
59,815
(1)
Stock compensation expense
Cost of sales
$ 4,700
$ 4,327
$ 3,978
$ 17,493
$ 16,763
Selling, general and administrative
10,461
10,082
8,747
38,867
32,781
Research and development
328
273
217
1,047
858
Total
$ 15,489
$ 14,682
$ 12,942
$ 57,407
$ 50,402
(2)
Relates to accounts receivable and inventory write-downs (recoveries) associated with distressed
customers.
(3)
Represents expenses, charges and recoveries associated with certain legal and other matters.
(4)
GAAP provision for income taxes
$ 19,438
$ 19,900
$ 21,396
$ 79,784
$ 85,294
Adjustments:
Tax impact of operating income adjustments
1,550
1,303
2,645
7,415
7,736
Discrete tax items
2,925
1,462
1,210
3,425
12,930
Deferred tax adjustments
(5,650)
(7,516)
(7,381)
(23,576)
(24,437)
Subtotal – adjustments for taxes
(1,175)
(4,751)
(3,526)
(12,736)
(3,771)
Non-GAAP provision for income taxes
$ 18,263
$ 15,149
$ 17,870
$ 67,048
$ 81,523
Q1 FY25 Earnings Per Share Outlook*:
Q1 FY25 EPS Range
Low
High
GAAP diluted earnings per share
$ 1.03
$ 1.13
Stock compensation expense
$ 0.27
$ 0.27
Non-GAAP diluted earnings per share
$ 1.30
$ 1.40
* Due to uncertainty regarding the timing of recognition of restructuring charges, impairment charges and other unusual or infrequent items, if any, that could be incurred during the first quarter of FY25, an estimate of such items is not included in the outlook for Q1 FY25 GAAP EPS.
Sanmina Corporation
Condensed Consolidated Cash Flow
(in thousands)
(GAAP)
(Unaudited)
Three Month Periods
Twelve Month Periods
Q4’24
Q3’24
Q2’24
Q1’24
Q4’23
FY24
FY23
Net income before noncontrolling interest
$ 67,340
$ 54,738
$ 55,309
$ 60,364
$ 65,355
$ 237,751
$ 327,513
Depreciation and amortization
31,654
29,764
30,274
30,726
30,521
122,418
118,237
Other, net
30,110
19,708
18,634
18,185
21,947
86,637
80,923
Net change in net working capital
(77,229)
(14,211)
(31,900)
16,750
(40,966)
(106,590)
(291,505)
Cash provided by operating activities
51,875
89,999
72,317
126,025
76,857
340,216
235,168
Purchases of long-term investments
(3,300)
(600)
(700)
(600)
(500)
(5,200)
(2,500)
Net purchases of property & equipment
(22,597)
(22,772)
(29,611)
(34,216)
(37,803)
(109,196)
(189,958)
Cash used in investing activities
(25,897)
(23,372)
(30,311)
(34,816)
(38,303)
(114,396)
(192,458)
Holdback paid in connection with previous
business combination
—
—
—
—
—
—
(8,558)
Net share repurchases
(60,412)
(54,629)
(17,477)
(115,619)
(30,397)
(248,137)
(103,681)
Net borrowing activities
—
(4,375)
(4,375)
(12,820)
4,070
(21,570)
(9,055)
Proceeds from sale of non-controlling
interest
—
—
—
—
—
—
215,799
Cash used for financing activities
(60,412)
(59,004)
(21,852)
(128,439)
(26,327)
(269,707)
94,505
Effect of exchange rate changes
2,585
(772)
(886)
1,250
(1,245)
2,177
498
Net change in cash & cash equivalents
$ (31,849)
$ 6,851
$ 19,268
$ (35,980)
$ 10,982
$ (41,710)
$ 137,713
Free cash flow:
Cash provided by operating activities
$ 51,875
$ 89,999
$ 72,317
$ 126,025
$ 76,857
$ 340,216
$ 235,168
Net purchases of property & equipment
(22,597)
(22,772)
(29,611)
(34,216)
(37,803)
(109,196)
(189,958)
$ 29,278
$ 67,227
$ 42,706
$ 91,809
$ 39,054
$ 231,020
$ 45,210
Schedule 1
The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income and earnings per share. Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.
Management excludes these items principally because such charges or benefits are not directly related to the Company’s ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company’s operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company’s strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management’s approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company’s liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company’s performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.
Additional information regarding the economic substance of each exclusion, management’s use of the resultant non-GAAP measures, the material limitations of management’s approach and management’s methods for compensating for such limitations is provided below.
Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company’s results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company’s core results with those of its competitors.
Restructuring, Acquisition and Integration Expenses, which consist of employee severance, lease termination costs, exit costs, environmental investigation, remediation and related employee costs and other charges primarily related to closing and consolidating manufacturing facilities and those associated with the acquisition and integration of acquired businesses, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company’s competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company’s core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company’s competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company’s liquidity. Therefore, management also reviews GAAP results including these amounts.
Impairment Charges for Goodwill and Other Assets, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company’s liquidity. In addition, given the fact that the Company’s competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company’s core results with those of its competitors.
Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company’s liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company’s core results with those of its competitors because the Company’s competitors complete acquisitions at different times and for different amounts than the Company.
Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, and gains and losses on sales of assets, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company’s ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company’s competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company’s liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.
Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures, and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company’s core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.
Logo – https://mma.prnewswire.com/media/1992091/4833572/SANMINA_CORPORATION_LOGO_2024.jpg
View original content:https://www.prnewswire.com/news-releases/sanmina-reports-fourth-quarter-and-fiscal-2024-financial-results-302295715.html
SOURCE Sanmina Corporation
You may like
Technology
Zooming into the green transformation, the “Together We Act” platform for China’s dual-carbon talent plan was released
Published
50 minutes agoon
November 24, 2024By
“Empowering Green Value Chains, Contributing to New Productive Forces” Side Event was Successfully Held at COP29
BAKU, Azerbaijan, Nov. 23, 2024 /PRNewswire/ — The side event titled “Empowering Green Value Chains, Contributing to New Productive Forces” was held in Baku, Azerbaijan, during COP29. The event was jointly organized by the Vanke Foundation, C Team, and Phoenix TV. The aim of the event was to explore how industries in China can empower human capital and implement green value chains to achieve green, efficient, and low-carbon operational models under the country’s dual-carbon strategy. The goal was also to inspire new productive forces and drive the green transformation of economic and social development.
The side event brought together experts, scholars, business representatives, and NGO partners from both China and abroad to discuss the latest global trends and developments in green value chains across key industries. The event was chaired by Yang Peidan, Director of C Team. In her opening remarks, Liu Xi, Senior Manager of Climate Change and Biodiversity at the Vanke Foundation, highlighted the foundation’s vision of a “beautiful and shared future home” and its commitment to promoting environmental protection and social public welfare. She also introduced the “Net Zero Drive” Talents Acceleration Initiative, unveiling the “Together We Act” platform, a significant new step in the foundation’s efforts to align with its strategies.
Liu Yifeng, Deputy Director of C Team, provided an in-depth introduction to the “Together We Act” platform. This platform aims to cultivate and empower talents in the field of China’s dual-carbon strategy, equipping individuals with the knowledge and skills needed to better adapt to and lead the green low-carbon transformation.
C Team is implementing a strategic upgrade to support the development of emerging industry talents while facilitating the transition of workers from traditional industries. This initiative aims to create a green employment market system. According to Liu, workers in traditional industries need to adapt to the “new wave” of industry transformation, while employees in emerging sectors must quickly update their knowledge and skills to keep pace with technological advancements. Through effective training and accelerated efforts, industries, businesses, and regions can better apply technologies and management practices, achieving both technological and energy transformations.
To this end, C Team has partnered with Tencent to develop the “Together We Act” platform. The platform breaks down knowledge into “knowledge cards,” which are categorized and tailored for workers in need of transformation or upskilling. The platform offers smart, content-driven training and quantitative assessments. By using algorithms, the platform provides personalized knowledge to users and includes management features that allow administrators to assign tasks and learning objectives. Knowledge and exercises are managed separately, creating a flexible and intelligent learning system.
Additionally, C Team plans to leverage the data on workforce technology upgrades and training behaviors collected by the platform to analyze the impact of dual-transformation policies and strategies on the workforce in both corporate supply chains and regional areas. This data will help companies and local governments better understand workforce trends and provide support for industry and regional transitions.
Media’s role is also essential in promoting new productive forces. Yang Yuntong, Director of International Cooperation and Project Operations at Phoenix TV, shared that as the largest well-rounded Chinese-language cultural media group overseas, Phoenix TV has long been committed to advancing new productive forces through practical actions. The group has been actively involved in climate-change communication in China and has hosted the annual “Zero-Carbon Mission International Climate Summit” for the past four years in the lead-up to COP, providing a platform for dialogue and discussion among stakeholders and influencing corporate practices and public advocacy.
Xu Shilun, head of the ESG projects at Onewo’s Sustainable Development Center, shared that reducing energy consumption and carbon emissions in property management are key concerns for the company. Onewo is integrating its experience from managing various spaces, such as communities and office buildings, into its “Magic Stone” AI system, focusing on energy management to improve carbon management efficiency in public spaces and encourage owners and tenants to adopt greener lifestyles.
The roundtable discussion focused on two main themes: “Collaborative Innovation of Diverse Forces in Creating New Productive Forces” and “Empowering Green Value Chains to Drive the Green Transformation of Economic and Social Development”. Representatives from leading companies such as JA Solar, Anta Group, Lenovo, Carbonstop, PES, Exiss, ACT, Dasso, Hainan Deeprock, and SQUAKE participated in the discussion. The Secretary of the CPC Municipal Committee of Huzhou City, Chen Hao, also joined via video to introduce the innovative concept of “Bamboo Forest Carbon Sequestration.”
The organizers stated that the side event was not only a deep exploration of green development concepts but also a firm commitment to future sustainable development. C Team plans to further collaborate with nonprofit organizations, environmental foundations, leading enterprises, research institutions, and knowledge service platforms to jointly promote public and inclusive transformation, ensuring that high-quality training content is presented on the platform. Through collective effort and the pooling of knowledge and resources, the event sought to support industry development, regional transformation, and the green transformation of society.
About C Team:
C Team is a non-profit organization dedicated to promoting corporate climate action and sustainable development.
View original content:https://www.prnewswire.com/news-releases/zooming-into-the-green-transformation-the-together-we-act-platform-for-chinas-dual-carbon-talent-plan-was-released-302314780.html
SOURCE C Team
Technology
Urgent Call: Donate Electronics to Empower Charities Nationwide
Published
2 hours agoon
November 23, 2024By
TORONTO, Nov. 23, 2024 /CNW/ – This holiday season, the Electronic Recycling Association (ERA) is spreading the spirit of giving with its annual 12 Days of Electronic Giving campaign. Aiming to donate over 200 electronic devices to charities across Canada, ERA is committed to empowering organizations to deliver critical services to their communities.
However, the demand for electronics remains pressing. More than 500 charities are still on ERA’s waitlist—a number that highlights the urgent need for public and corporate donations of pre-loved technology.
“Together, We Can Create Impact”
Bojan Paduh, Founder and President of ERA, urges individuals and businesses to step up this holiday season:
“We’ve accomplished so much, but hundreds of charities are still waiting for essential technology to continue their work. I encourage everyone to consider donating their unused laptops, tablets, or cell phones. Your generosity can transform lives and reduce e-waste at the same time.”
ERA’s 12 Days of Electronic Giving campaign is already making an impact, supporting a wide range of organizations across the country, including:
Children’s Autism Services of Edmonton – Edmonton, ABWinnipeg Humane Society – Winnipeg, MBBent Arrow Traditional Healing Society – Edmonton, ABCanadian Mental Health Association – Toronto, ONYork Region Educational Services – Toronto, ONIt Takes a Village Community Outreach and Advocacy – Halifax, NSToronto Fringe – Toronto, ONMarina Housing Co-op – Vancouver, BCAgape Table Inc. – Winnipeg, MBGreater Edmonton Live-In Society – Edmonton, ABEqual Housing Initiative Inc. – Winnipeg, MBValley Community Learning Association – Kentville, NSAlberta Children’s Hospital – Calgary, AB
How You Can Help
The holidays are the perfect time to give back. If you or your organization have unused electronic devices gathering dust, ERA invites you to donate and make a meaningful difference. Whether it’s a laptop, tablet, or cell phone, every device can create opportunities, reduce e-waste, and bring hope to someone in need.
Donating is Simple
ERA offers convenient, free pickup services across Canada.
Call: 1-877-9EWASTE / Email: info@era.ca / Visit: www.era.ca to schedule a pickup.
Let’s Make This Season Count
“Your donation today can change lives tomorrow,” adds Paduh. “Together, we can meet the urgent needs of these charities while fostering a sustainable future.” Don’t wait—help ERA ensure no charity is left behind this holiday season.
SOURCE Electronic Recycling Association
Technology
MyDataRemoval Proven More Effective Than Competing Data Removal Services [updated links]
Published
3 hours agoon
November 23, 2024By
Internal and external reports show MyDataRemoval to be the most effective personal data removal service. MyDataRemoval has achieved over 70% data removal within the first week and 90% within four months, outperforming industry competitors who average 26% in the first week and 35% within four months.
LAS VEGAS, Nov. 23, 2024 /PRNewswire-PRWeb/ — Recent findings from a consumer advocacy group have raised concerns about the effectiveness of people-search site removal services, revealing high rates of ineffectiveness among tested companies. Notably, MyDataRemoval was not included in this study. In response, MyDataRemoval conducted an internal audit [updated link] to evaluate its standing relative to the competition, revealing that it was already leading the industry. Building on this success, MyDataRemoval has since enhanced its methodologies and technologies for data removal. As a result, MyDataRemoval is now reaching a 90% removal rate within four months and exceeding a 70% removal rate within the first week—results that place it well above the competition.
Over 70% of personal data removed within the first week: MyDataRemoval successfully removed over 70% of personal data from people-search websites within just one week, outperforming all other services tested by Consumer Reports.Effectiveness over time: MyDataRemoval maintained superior performance compared to other data removal services, with 80% of data removed within one month and 90% within four months.Competitor Comparison in one week: The average effectiveness for the first week across competing services was 30%, whereas MyDataRemoval removed over 70%, demonstrating a clear advantage.Competitor Comparison at four months: Competing services demonstrated significantly lower data removal rates, with some services removing only 27% of personal data within four months.
MyDataRemoval’s internal audits have demonstrated that the service is not only more effective in the initial stages of data removal but also continues to outperform over time. Its proprietary methods, commitment to ongoing audits, and dedication to continuous improvement ensure that it remains a leader in data removal.
MyDataRemoval acknowledges that while current effectiveness rates are industry-leading, there is still room for growth. The goal is to achieve over 90% removal rates across all categories and time frames. MyDataRemoval is committed to conducting monthly audits and making these results publicly available to ensure transparency and continuous improvement. You can see the most recent audit results here [updated link].
Privacy is more important than ever, and MyDataRemoval is here to help individuals reclaim theirs. Do not settle for ineffective data removal—trust the service that has been proven to deliver results. Find MyDataRemoval at www.mydataremoval.com or contact us at hello@mydataremoval.com or call (855) 700-2914 to start your journey towards a more private online presence.
Stay tuned for our monthly audit updates to see how we are continuously improving to make your personal information private once again.
Audit date: 8/9/2024
Profiles removed within 1 week: 85%Profiles removed within 1 month: 71%Profiles removed within 4 months: 73%
Audit date: 9/9/2024
Profiles removed within 1 week: 85%Profiles removed within 1 month: 78%Profiles removed within 4 months: 92%
Audit date: 10/9/2024
Profiles removed within 1 week: 59%Profiles removed within 1 month: 81%Profiles removed within 4 months: 90%
Audit date: 11/9/2024
Profiles removed within 1 week: 77%Profiles removed within 1 month: 81%Profiles removed within 4 months: 90%
Media Contact
James Wilson, MyDataRemoval, 1 8557002194, hello@mydataremoval.com, https://www.mydataremoval.com
View original content:https://www.prweb.com/releases/mydataremoval-proven-more-effective-than-competing-data-removal-services-updated-links-302313853.html
SOURCE MyDataRemoval
Zooming into the green transformation, the “Together We Act” platform for China’s dual-carbon talent plan was released
Urgent Call: Donate Electronics to Empower Charities Nationwide
Is Bitcoin heading back to $90K? Solana ETFs, and more: Hodler’s Digest, Nov. 17 – 23
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
Peloton Unveils Holiday 2022 Creative Campaign Highlighting How Motivation Transcends Beyond the Workout
These ’90s fashion trends are making a comeback in 2017
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Near Videos5 days ago
AI in Crypto: Due Diligence & On-Chain Security 🔍
-
Near Videos4 days ago
AI Agents, Hot Wallet, and Mass Market Crypto Apps
-
Technology5 days ago
ETOE Unveils Innovative Projectors with Built-in Google TV for AV Enthusiasts – Developed by Anker’s Former Head of Projectors
-
Near Videos5 days ago
Why Manual Machine Learning Beats LLMs in Some Cases”
-
Coin Market4 days ago
Smithsonian to display IRS laptop that tracked Bitfinex’s 120K stolen Bitcoin
-
Coin Market5 days ago
Genius Group kicks off Bitcoin treasury play with $10M in BTC
-
Technology5 days ago
17sing teams up with Beldora to create a dream stage: “I wanna be famous”
-
Technology5 days ago
Preferred Networks Chooses Digital Realty’s Data Center in Japan for Scalable, Cutting-Edge AI Platform