Sales for the quarter were $2.0 billion, in line with expectations, while sales for the first nine months were a record $6.6 billion, up approximately 10% from the same period of fiscal 2000. For the third quarter, SCI reported cash net income of $41.7 million, and cash EPS of $.28 per share, exceeding market expectations, and excluding the effects of special charges.
For the nine-month period, cash net income was $160.6 million, up from the $150.7 reported for the first nine months of fiscal 2000, excluding the effects of the special charges. On the same basis, cash EPS was $1.07 for the first nine months of 2001, up from $1.03 last year. During the quarter, the company recorded special charges of $59 million ($39.6 million after tax) to reflect its previously disclosed plans to realign its capacity and employment in light of changing market conditions. Including the charge, SCI reported cash net income of $2.1 million and cash EPS of $.03 per share. On the same basis, SCI reported cash net income of $121.0 million for the first nine months, and cash EPS of $0.82 per share.
We are pleased that our results met or exceeded expectations in this period, particularly in light of market instability and reduced end user demand, said Gene Sapp, SCI Systems’ Chairman and CEO. He further stated, We made significant progress during the quarter on realigning our capacity, geographic footprint and employment levels while continuing to develop a more favorable and balanced end market business mix. We continue to win new business that will contribute to future growth, and we expect to benefit from a number of OEM manufacturing consolidation initiatives. We believe that SCI is well positioned to take advantage of numerous opportunities and the expected resumption of industry growth that lie ahead of us.
